News in end use

The Mortgage Bankers Association reported that mortgage applications for new home purchases declined 12.0% month-over-month but were up 14.9% year-over-year in September.

Investment in Canadian building construction increased 1.1% to $17.9 billion (CAD) in August.

Total commercial and multifamily mortgage borrowing and lending is expected to fall 46% to $442 billion this year, the Mortgage Bankers Association reported.

There were 448,000 Canadians receiving regular Employment Insurance benefits in August, up 9,100, or 2.1%, from July.

2023 will likely end with roughly 4.1 million existing home sales nationwide, Redfin reported.

Total existing-home sales recorded a 2.0% month-over-month decline in September to a seasonally adjusted rate of 3.96 million homes, the National Association of Realtors® reported.

The 30-year fixed-rate mortgage averaged 7.63%, up from last week when it averaged 7.57%, according to Freddie Mac.

The Conference Board Leading Economic Index® declined 0.7% in September to a reading of 104.6 (2016=100), after posting a 0.5% drop in August.

The advance figure for seasonally adjusted initial unemployment claims was 198,000 during the week ending October 14th, a decrease of 13,000 from the previous week.

Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,358,000. This is 7.0% above the revised August estimate of 1,269,000.