News in end use

The Dodge Construction Network released its October Dodge Momentum Index, a monthly measure of initial reports of nonresidential building projects in planning.

The availability of loans for Land Acquisition, Development & Construction continued to tighten in Q3, according to surveys by the Federal Reserve and NAHB.

The University of Michigan Index of Consumer Sentiment declined to a reading of 60.4 in November, down from 63.8 in October. This is a month-over-month decline of 5.3%.

Just 37.4% of new and existing homes sold during Q3 were affordable to families earning the US median income of $96,000, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.

The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of Q3, the Mortgage Bankers Association reported.

The advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending November 4th. This is a decrease of 3,000 from the previous week.

The total monthly value of building permits in Canada fell 6.5% in September to $11.2 billion (CAD). In Q3, the value of building permits increased 4.9% from Q2 to $34.6 billion.

Mortgage loan application volume increased 2.5% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.

The median US asking rent in October was 3.7% below the record high of $2,054 set in August 2022 and down 0.3% from a year ago, Redfin reported.