The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.54%, Freddie Mac reported.
Wood Markets News
US Bureau of Economic Analysis Reports Personal Income and Outlays for September
Personal income increased 0.3%; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.5%.
Mortgage Application Payments Decline Further in September
The MBA Purchase Applications Payment Index decreased 0.8% to a reading of 157.9 in September, down from 159.2 in August.
Canadian GDP Unchanged in August, but Advance September Estimate Shows Increase
Canadian real GDP was essentially unchanged in August, following a 0.1% increase in July.
Private Sector Job Cuts Ease in October
US-based employers announced 55,597 job cuts in October, a 23.7% decrease from the 72,821 cuts announced in September, CG&C reported.
US Weekly Initial Jobless Claims Continue to Decline in the Week Ending October 26th
The advance figure for seasonally adjusted initial unemployment claims was 216,000, a decrease of 12,000 from the previous week’s revised level.
US Real GDP Increases at an Annual Rate of 2.8% in Q3, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 2.8% in Q3, following an increase of 3.0% in Q2.
US Pending Home Sales Increase 7.4% in September
The NAR Pending Homes Sales Index increased 7.4% month-over-month to a reading of 75.8 in September.
US Forest Service to Invest $265 Million to Conserve 335,000 Acres of Private Forestlands
The Forest Service announced an investment of more than $265 million to conserve nearly 335,000 acres of ecologically and economically significant forestlands across the nation.
US Construction Employment Softens in September
The number of open construction sector jobs fell from a revised 328,000 in August to a softer 288,000 in September, NAHB reported.