News in end use

Employment in the construction sector increased by 2,000 jobs in November, down from 25,000 new jobs in October, according to the NAHB and BLS.

The University of Michigan Index of Consumer Sentiment increased 13.2% month-over-month and 16.1% year-over-year.

Total nonfarm payroll employment increased by 199,000 in November, and the unemployment rate declined by 0.2% to a reading of 3.7%.

The total value of building permits in Canada, led by gains in the non-residential sector, increased 2.3% from September to $11.2 billion (CAD) in October.

The Fannie Mae Home Purchase Sentiment Index® declined 0.6 points in November, remaining within the bounds of the low-level plateau it established in the first half of 2023.

The 30-year fixed-rate mortgage averaged 7.03%, down from last week when it averaged 7.22%, Freddie Mac reported.

US-based employers announced 45,836 job cuts in November, a 24% increase from the 36,836 job cuts announced in October, according to the Challenger, Gray & Christmas, Inc.

The advance figure for seasonally adjusted initial unemployment claims was 220,000 during the week ending December 2nd, an increase of 1,000 from the previous week’s revised level of 219,000.

Mortgage loan application volume increased 2.8% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association.

On Wednesday, the Governing Council of the Bank of Canada has decided to hold its benchmark interest rate steady at 5%, CBC reported.