The advance figure for seasonally adjusted initial unemployment claims was 231,000 during the week ending November 11th, an increase of 13,000 from the previous week.
News in end use
US Building Materials Costs in Residential Construction Inch Lower in October
The prices of good used in residential construction, less energy, fell 0.1% in October, not seasonally adjusted, according to the BLS and NAHB.
Canadian Home Sales Fall Month-Over-Month in October, but Remain Slightly Higher Year-Over-Year
Home sales recorded over Canadian MLS® Systems declined 5.6% between September and October, the Canadian Real Estate Association reported.
Mortgage Applications Climb in the Week Ending November 10th, Marking Second Consecutive Increase
Mortgage loan application volume increased 2.8% on a seasonally adjusted basis, according to the Mortgage Bankers Association.
Producer Price Index for Final Demand Declines Month-Over-Month but Rises Year-Over-Year in October
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.5% in October, following an increase of 0.4% in September.
Mortgage Credit Availability Increases for Third Consecutive Month in October
The Mortgage Bankers Association Mortgage Credit Availability Index (MCAI) shows mortgage credit availability increased in October.
Consumer Price Index Unchanged in October; All-Items Index Up 3.2% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October, on a seasonally adjusted basis, after increasing 0.4% in September and 0.6% in August.
Canadian Rent Prices Continue to Climb Higher in October
Data released by Rentals.ca and Urbanation shows that October’s annual rate of rent growth in Canada was down from the 11.1% jump posted in September, CKPGToday and the Canadian Press reported.
NFIB Small Business Optimism Index Declines in October
The October National Federation of Independent Business Small Business Optimism Index (SBOI) declined 0.1 points to a reading of 90.7.
High Interest Rates and Limited Availability of Existing Homes for Sale Have Not Weakened Buyer Demand
According to Zillow, although mortgage rates remain close to 23-year highs and existing home inventory remains low, those factors seem to be spurring surprisingly strong competition.