Mortgage loan application volume declined 1.5% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.
News in end use
The Conference Board Consumer Confidence Index Rises for Second Consecutive Month in December
The Conference Board Consumer Confidence Index® rose to 110.7 (1985=100) in December, up from a downwardly revised November reading of 101.0.
Canadian Unemployment Inches Higher in October
The number of Canadians receiving regular Employment Insurance (EI) benefits in October changed little, increasing by 0.7%, or 2,900 persons, to 443,000.
US Housing Starts and Completions Rise but Permits Fall in November
Privately‐owned housing starts in November were at a seasonally adjusted annual rate (SAAR) of 1,560,000. This is 14.8% above the revised October estimate of 1,359,000.
Fannie Mae’s Economic and Strategic Research Group Releases Its December Commentary
In its December commentary, the ESR Group said single-family home sales likely bottomed out in 2023Q4 and are expected to begin a slow but meaningful recovery over the course of the next year.
Mortgage Applications for New-Home Purchases Down Month-Over-Month but Up Year-Over-Year in October
Mortgage applications for new home purchases decreased 12.0% month-over-month in November but were up 21.8% year-over-year, the Mortgage Bankers Association reported.
Shares of Mortgage Loans in Forbearance Decline Further in November
The total number of loans in forbearance as of November 30th decreased 3 basis points to 0.26% of servicers’ portfolio volume, the Mortgage Bankers Association reported.
Canadian Industrial Product and Raw Materials Price Indexes Both Decline in November
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 0.4% month over in November. This follows a 0.9% decrease in October.
Canadian Consumer Price Index Increases 3.1% Year-Over-Year in November
The Canadian Consumer Price Index (CPI) increased 3.1% year-over-year in November, following a similar 3.1% increase in October.
US Builder Confidence Moves Higher on Lower Mortgage Interest Rates in December
The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) shows that builder sentiment in the market for newly built single-family homes increased 3 points to a reading of 37 in December.