Commercial mortgage delinquencies were mixed in Q2, with CMBS rates declining while Fannie Mae, Freddie Mac, and life company rates increased, MBA reported.
Wood Markets News
US Mortgage Rates Surge in the Week Ending October 1
The 30-year fixed-rate mortgage averaged 7.28%, up sharply from 7.03% the previous week, Freddie Mac reported.
US Construction Spending Increases in August
US construction spending rose 0.9% in August to a seasonally adjusted annual rate of $2,203.1 billion, up from $2,184.5 billion in July.
US Commercial and Multifamily Mortgage Debt Outstanding Rises in Q2
US commercial and multifamily mortgage debt outstanding rose $42.9 billion, or 0.9%, to $5.1 trillion in Q2. Multifamily debt reached $2.3 trillion.
US Weekly Initial Jobless Claims Edge Lower in the Week Ending September 26
The advance figure for seasonally adjusted initial unemployment claims was 197,000, a decrease of 1,000 from the previous week.
US Job Cuts Fall in September, Reaching Lowest September Total Since 2022
US employers announced 43,281 job cuts in September, down 18% from August and 20% from a year earlier, CG&C reported.
US Real GDP Increases at an Annual Rate of 2.2% in Q2, BEA Reports in Its “Third” Estimate
US real GDP grew at an annual rate of 2.2% in Q2, an upward revision of 0.7 percentage point from BEA’s “second” estimate.
US Construction Job Openings Decline in August
US construction job openings fell to 251,000 in August from 299,000 in July but remained above the 213,000 reported a year earlier, the BLS and NAHB reported.
US Personal Income and Outlays for August
Personal income rose 0.2% and personal consumption expenditures increased 0.9% in August, while the PCE price index rose 3.4% year-over-year.
Stora Enso Plans to Discontinue CLT Production at Gruvön Sawmill
Stora Enso plans to discontinue CLT production at its Gruvön sawmill in Sweden by yearend.