News in end use

Data released by Rentals.ca and Urbanation shows that October’s annual rate of rent growth in Canada was down from the 11.1% jump posted in September, CKPGToday and the Canadian Press reported.

The October National Federation of Independent Business Small Business Optimism Index (SBOI) declined 0.1 points to a reading of 90.7.

According to Zillow, although mortgage rates remain close to 23-year highs and existing home inventory remains low, those factors seem to be spurring surprisingly strong competition.

The Dodge Construction Network released its October Dodge Momentum Index, a monthly measure of initial reports of nonresidential building projects in planning.

The availability of loans for Land Acquisition, Development & Construction continued to tighten in Q3, according to surveys by the Federal Reserve and NAHB.

The University of Michigan Index of Consumer Sentiment declined to a reading of 60.4 in November, down from 63.8 in October. This is a month-over-month decline of 5.3%.

Just 37.4% of new and existing homes sold during Q3 were affordable to families earning the US median income of $96,000, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.

The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of Q3, the Mortgage Bankers Association reported.

The advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending November 4th. This is a decrease of 3,000 from the previous week.