News in end use

The University of Michigan Index of Consumer Sentiment fell 5.3% month-over-month to 55.1 in September and was 21.6% lower than a year ago.

Personal income rose 0.4% and personal consumption expenditures advanced 0.6% in August, while the PCE price index increased 2.7% year-over-year.

Canadian GDP grew 0.2% in July, its first increase in four months, led by goods-producing industries. August was flat in advance estimates.

Existing-home sales fell 0.2% in August to a seasonally adjusted annual rate of 4.0 million, while prices rose for the 26th straight month, NAR reported.

The 30-year fixed-rate mortgage averaged 6.30%, up from 6.26% the previous week, Freddie Mac reported.

US real GDP grew at an annual rate of 3.8% in Q2, an upward revision from the “second” estimate, the BEA reported.

The advance figure for seasonally adjusted initial unemployment claims was 218,000, a decrease of 14,000 from the previous week.

New single-family home sales rose 20.5% in August to an annual rate of 800,000, with the median sales price climbing to $413,500.

The Chicago Fed introduced a new interim unemployment report, estimating September’s jobless rate at 4.3% nearly two weeks before the official release.

Mortgage loan application volume rose 0.6% on a seasonally adjusted basis from one week earlier, MBA reported.