The 30-year fixed-rate mortgage averaged 6.64%, down from last week when it averaged 6.65%, Freddie Mac reported.
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US Weekly Initial Jobless Claims Trend Lowe in the Week Ending March 29
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 6,000 from the previous week’s revised total.
US Job Cuts Soar in March
US-based employers announced 275,240 job cuts in March, a 60% increase from the 172,017 cuts announced in February, CG&C reported. Year-over-year, cuts were up 205%.
President Trump Announces 10% Baseline Tariff; Higher Rates on Certain Countries
Trump announced a 10% baseline tariff on imports from all countries and higher tariff rates on dozens of nations, AP reported.
US Residential Construction Spending Rebounds in February
Private residential construction spending increased 1.3% in February, rebounding from a 1.2% dip in January, the Census Bureau and NAHB reported.
NCCC and IAM Announce Tentative Agreement
The National Carriers Conference Committee (NCCC) has reached a national tentative agreement with the International Association of Machinists and Aerospace Workers (IAM).
US Mortgage Applications Fall in the Week Ending March 28—Third Consecutive Decrease
Mortgage loan application volume decreased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP Reports Private Sector Employment and Compensation Both Increased in March
Private sector employment increased by 155,000 jobs in March. Year-over-year, annual compensation was up 4.6%.
Mercer Mass Timber Helps Power Sustainable Construction for Walmart’s Landmark Office Campus
Mercer Mass Timber had a key role in the construction of Walmart’s new Home Office in Bentonville, Arkansas—the largest mass timber corporate campus in the US.
US Construction Spending Rises 0.7% in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $2,195.8 billion, 0.7% above the revised January estimate.