Existing-home sales in October rose 1.6% month-over-month, the largest gain since January 2022, Redfin reported.
News in end use
US Building Materials Costs Decrease 0.2% in October
The goods component increased 0.7% over the year, while services decreased 0.4%.
MBA Mortgage Credit Availability Index Increases in October
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 99.2 in October.
Canadian Existing-Home Sales Jump 7.7% in October
Existing-home sales activity increased 7.7% month-over-month in October, reaching its highest level since April 2022, CREA reported.
US Mortgage Rates Little Changed in the Week Ending November 14th
The 30-year fixed-rate mortgage averaged 6.78%, down from last week when it averaged 6.79%, Freddie Mac reported.
US Producer Price Index for Final Demand Up 2.4% Year-Over-Year in October
The Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending November 9th
The advance figure for seasonally adjusted initial unemployment claims was 217,000, a decrease of 4,000 from the previous week’s unrevised level.
Associated Builders and Contractors Construction Backlog Indicator Falls in October
ABC’s Construction Backlog Indicator fell 0.2 months to 8.4 months in October. The reading is unchanged from October 2023.
US Consumer Price Index Increases 2.6% Year-Over-Year in October
Over the past 12 months, the all-items index has increased 2.6% before seasonal adjustment.
Mortgage Applications Increase 0.5% in the Week Ending November 8th
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.