News in end use

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.

Nonfarm private sector employment increased by 103,000 jobs in November, and annual pay was up 5.6% year-over-year, according to the ADP® National Employment Report™.

The construction labor market remained active and tight in October, according to NAHB analysis of Census Bureau data.

The number of commercial mortgage delinquencies increased for the third consecutive quarter in Q3, the Mortgage Bankers Association reported.