The 30-year fixed-rate mortgage averaged 6.93%, up from last week when it averaged 6.91%, Freddie Mac reported.
News in end use
US Asking Rents Decline in December
The median US asking rent fell 0.3% year-over-year to $1,594 in December, the lowest level since March 2022, Redfin reported. On a monthly basis, rents were down 0.1%.
US Mortgage Credit Availability Increases in December
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 96.6 in December.
US Private Sector Job Cuts Drop in December
US employers announced 38,792 job cuts in December, a 33% drop from November’s 57,727, according to Challenger, Gray & Christmas. However, this marks an 11% increase year-over-year.
Mortgage Applications Decrease in the Week Ending January 3
Mortgage loan application volume declined 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.
US Weekly Initial Jobless Claims Decline in the Week Ending January 4
The advance figure for seasonally adjusted initial unemployment claims was 201,000, a decrease of 10,000 from the previous week’s unrevised level.
ADP Reports Private Sector Employment and Compensation Both Increased in December
Private sector US employment increased by 122,000 jobs in December, according to ADP. Year-over-year, annual compensation was up 4.6%.
US Residential Construction Employment Data for November
The number of open construction sector jobs increased from a revised 259,000 in October to 276,000 in November, the BLS and NAHB reported.
Fannie Mae Home Purchase Sentiment Index Declines in December
The Fannie Mae Home Purchase Sentiment Index (HPSI) fell 1.9 points in December, but it remained substantially higher than year-ago levels.
US Consumer Confidence Index Declines in December
The Conference Board Consumer Confidence Index declined 8.1 points to a reading of 104.7 (1985=100) in December.