The total number of loans in forbearance as of October 31st decreased 2 basis points to 0.29% of servicers’ portfolio volume, down from 0.31% in September, according to the Mortgage Bankers Association.
News in end use
Canadian New-Home Prices Unchanged in October
StatCan’s New-Housing Price Index was unchanged in October. Of the 27 census metropolitan areas (CMAs), 22 were unchanged and the remaining 5 were higher.
Canadian All-Items Consumer Price Index Increases 3.1% Year-Over-Year in October
The Consumer Price Index (CPI) increased 3.1% year-over-year but was down from September’s 3.8% gain.
Investment in Building Construction in Canada Increases in September
Investment in building construction increased 5.3% to $18.9 billion (CAD) in September. Residential building construction was up 7.3% to $12.9 billion.
State-Level Analysis of Construction Sector Employment in October
Overall, the construction industry added a net 23,000 jobs month-over-month in October, according to the Bureau of Labor Statistics and NAHB analysis.
Rental Concessions Increase Amid Attempts to Maintain Current and Lure New Residents
Rental concessions are at their highest level in more than two years despite stronger rental demand, Zillow reports.
The Conference Board US Leading Economic Index® Declines Again in October
The Conference Board Leading Economic Index® declined 0.8% in October, after posting declines of 0.7% in September and 0.5% in August.
Housing Starts and Building Permits Rise, While Completions Fall in October
Privately‐owned housing starts in October increased 1.9% to a seasonally adjusted annual rate of 1,372,000,
US Pending Home Sales Climb, but Number of Buyers Backing Out of Deals Grows
US pending home sales rose 1% month-over-month in October to their highest level in a year on a seasonally adjusted basis, Redfin reported.
Canada’s Industrial Product and Raw Materials Price Indexes Both Decline in October
The price of softwood lumber declined 6.4% in October—the largest monthly decrease since March, when it fell 6.7%