Mortgage loan application volume increased 1.9% on a seasonally adjusted basis from one week earlier, MBA reported.
Wood Markets News
US Single-Family Home Size Continues to Shrink in Q1
The median single-family floor area came in at 2,140 square feet in Q1, the lowest reading since the second half of 2009, the NAHB and Census Bureau reported.
Fannie Mae ESR Group Modifies Expectations for 2024 Housing Activity
The ESR Group expects housing activity will slow modestly compared to previous projections, if the broad upward movement in mortgage rates since the start of the year is sustained.
Southern Forest Products Association Receives $1.24 Million in USDA Funding to Expand Exports
The SFPA has received $1.24 million in funding over the next five years from the USDA Foreign Agriculture Service’s Regional Agricultural Promotion Program (RAPP).
US Home Prices Climb 7.3% Year-Over-Year in April
US home prices increased 0.5% month-over-month and 7.3% year-over-year, on a seasonally adjusted basis, Redfin reported.
US National Interagency Fire Center Wildfire Update For May 21st
The US National Interagency Fire Center reported a significant increase in wildland fire activity in multiple geographic areas.
Canadian Consumer Price Index Declines Month-Over-Month in April
Year-over-year, the CPI rose 2.7%, down from a 2.9% gain in March. Broad-based deceleration in headline CPI was led by declines in food prices, cost of services, and durable goods.
US Median Home-Sale Price Increases in April, Setting Yet Another Record
The median US home-sale price increased 6.2% year-over-year to $433,558 in April—the highest level on record—Redfin reported.
Custom Home Building Slows in Q1
There were 34,000 total custom building starts during Q1, NAHB reported. This marks an almost 3% decline compared to 2023Q1.
Share of Mortgage Loans in Forbearance Holds Steady in April
The number of loans in forbearance as of April 30th remained unchanged from March, holding at 0.22% of servicers’ portfolio volume, MBA reported.