The total value of building permits issued in Canada decreased 5.9%, or $739.5 million (CAD), to $11.7 billion in November.
News in end use
US Nonfarm Payroll Increases by 256,000 in December; Unemployment Holds Steady at 4.1%
Total nonfarm payroll employment increased 256,000 in December, following an increase of 227,000 in November.
University of Michigan Releases Preliminary Consumer Sentiment Index for January
The University of Michigan Index of Consumer Sentiment declined to a reading of 73.2 in January, a month-over-month decline of 1.1%.
Canadian Employment Improves and Unemployment Declines in December
Employment rose 0.4%, or by 91,000 jobs, in December. The employment rate increased 0.2 percentage points to 60.8%.
US Mortgage Rates Creep Higher in the Week Ending January 9
The 30-year fixed-rate mortgage averaged 6.93%, up from last week when it averaged 6.91%, Freddie Mac reported.
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.