News in end use

Mortgage applications for new-home purchases decreased 2.4% in April and were down 10.0% from a year earlier, MBA reported.

The total value of Canadian building permits rose 10.3% to CA$13.5 billion in March, but residential intentions were down 3.3%.

Mortgage loan application volume decreased 2.3% on a seasonally adjusted basis from one week earlier, MBA reported.

US pending home sales rose 1.4% month-over-month and were up 3.2% year-over-year in April, NAR reported.

Canada’s CPI rose 2.8% year-over-year in April, up from 2.4% in March, as higher gasoline prices pushed headline inflation higher.

The NAHB/Wells Fargo Housing Market Index rose in May to 37. Sentiment has now remained in negative territory for 25 consecutive months.

US pending home sales jumped 9.6% year-over-year during the four weeks ending May 10 (seasonally adjusted), Redfin reported.

Canadian housing starts rose 17% in April to 279,317 units (SAAR), while the six-month trend increased 3.2% to 256,777 units, CMHC reported.

NAHB reported that builder credit conditions remained tight in Q1, although its AD&C financing index moved closer to neutral territory.

The mortgage delinquency rate for one-to-four-unit residential properties rose 18 basis points to 4.44% in Q1, MBA reported.