The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.
Wood Markets News
US Mortgage Delinquency Rate Increases in Q3
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.
US Weekly Jobless Claims Decline in the Week Ending November 4th
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.
Canadian Building Permits Decline 6.5% in September
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 Applications Increase in the Week Ending November 3rd
Mortgage loan application volume increased 2.5% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Canada Adopts Legislation Promoting the Use of Wood-Based Construction Materials
Canada’s House of Commons has approved legislation promoting the use of wood-based construction materials to reduce carbon emissions and bolster sustainability, Construction Canada reported.
US Wood Pellet Exports Decline in September
The US exported 796,988 million metric tons of wood pellets in September, down 21% from August, according to the USDA and Biomass Magazine.
US Asking Rent Prices Continue to Inch Lower in October
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.
Consumer Credit Outstanding Growth Slows in Q3, Federal Reserve’s G.19 Consumer Credit Report Shows
Consumer credit outstanding growth slowed to a seasonally adjusted annual rate (SAAR) of 0.4% in Q3, according to the Fed and NAHB analysis.
Fannie Mae’s Home Purchase Sentiment Index® Increases in October Despite Higher Mortgage Rates
Fannie Mae’s Home Purchase Sentiment Index® (HPSI) inched 0.4 points higher to a reading of 64.9 in October.