News in end use

Delinquency rates for mortgages backed by commercial and multifamily properties increased during Q3, according to the Mortgage Bankers Association.

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.