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Other Industry News > Housing
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Mortgage rates show little movement
Thirty-year fixed-rate mortgages (FRMs) averaged 4.12% for the week ending September 11, up from last week's average of 4.10%, according to Freddie Mac. Last year at this time, the 30-year FRM averaged 4.57%. The 15-year FRM averaged 3.26% this week, up from last week's average of 3.24%. A year ago at this time, the 15-year FRM averaged 3.59%. One-year adjustable-rate mortgages (ARMs) averaged 2.45% this week, up from last week's average of 2.40%. At this time last year, the one-year ARM averaged 2.67%. For more, click here...
Canada's New Housing Price Index unchanged
Canada's New Housing Price Index was unchanged in July, following a 0.2% increase in June, according to Statistics Canada. Monthly price increases in eight metro areas offset decreases in seven areas, resulting in no change to the Canada level index. For more, click here...
Mortgage applications decline
Mortgage applications decreased 7.2% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending September 5. The week's results included an adjustment for the Labor Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 7.2% on a seasonally adjusted basis from a week earlier, reaching its lowest level since December 2000. On an unadjusted basis, the index decreased 17% compared with the previous week. The refinance component of the index decreased 11% from the previous week, while the purchase component fell 3% from a week earlier. For more, click here...
Canadian housing starts flat in August
The trend measure of housing starts in Canada reached 189,837 units in August compared to 189,596 in July, according to Canada Mortgage and Housing Corp. The trend is a six-month moving average of the monthly seasonally adjusted annual rate of housing starts. The stand-alone monthly SAAR was 192,368 in August, down from 199,813 in July. For more, click here...
Canadian building permits jump
Canadian municipalities issued building permits worth $C9.2 billion in July, up 11.8% from June and a fourth consecutive monthly advance. The increase in July was mainly attributable to higher construction intentions for multifamily dwellings in Ontario and British Columbia, as well as institutional buildings in Manitoba. The value of residential building permits increased for a fifth consecutive month, up 18.0% to $C5.0 billion in July. For more, click here...
Report indicates stabilizing housing market
Freddie Mac's Multi-Indicator Market Index (MiMi) reached a reading of 73.7, which the agency says reflects a weak U.S. housing market that is improving. The index increased slightly between May and June and has inched up 0.16% in the last three months. Year-over-year, the index has risen 7.67%. The nation's all-time high of 121.87 was in June 2008 and its low of 59.8 was in September 2011. For more, click here...
U.S. house prices inched higher in second quarter
U.S. house prices increased 0.8% in the second quarter, according to the Federal Housing Finance Agency's seasonally adjusted House Price Index (HPI). The gain marked the 12th consecutive price increase in the HPI. For more, click here...
New home sales slip in July
Sales of newly built single-family homes fell 2.4% to a seasonally adjusted annual rate of 412,000 units in July, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales fell 30.8% in the Northeast, 8.8% in the Midwest, and 15.2% in the West. Sales climbed 8.1% in the South, the country's largest region. The inventory of new homes increased to 205,000 units in July, which represents a 6.0-month supply at the current sales pace. For more, click here...
Existing-home sales hit 2014 peak in July
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums, and co-ops, increased 2.4% to a seasonally adjusted annual rate of 5.15 million in July from a slightly downwardly revised 5.03 million in June. Sales are at the highest pace of 2014 and have risen four consecutive months, but remain 4.3% below the 5.38 million-unit level from last July, which was the peak of 2013. The median existing home price for all housing types in July was $222,900, which is 4.9% higher than the July 2013 median. This marks the 29th consecutive month of year-over-year gains. Total housing inventory at the end of July increased 3.5% to 2.37 million existing homes available for sale, representing a 5.5-month supply at the current sales pace, unchanged from June. For more, click here...
July housing starts rebound
U.S. housing starts were at a seasonally adjusted annual rate of 1,093,000 units in July, 15.7% above the revised June rate and 21.7% higher than the July 2013 estimate, according to the Census Bureau and the Department of Housing and Urban Development. Single-family starts in July were at a SAAR of 656,000 units, 8.3% above the revised June figure. Privately owned units authorized by permits were at a SAAR of 1,052,000, 8.1% higher than the revised June estimate and 7.7% above the July 2013 rate. For more, click here...
Builder confidence maintained upward trend in August
Builder confidence in the market for newly built single-family homes increased two points to a reading of 55 on the National Association of Home Builders/Wells Fargo Housing Market Index for August. Any reading higher than 50 indicates that more builders view sales conditions as good than poor. A third consecutive monthly gain brings the index to its highest level since January. "As the employment picture brightens, builders are seeing a noticeable increase in the number of serious buyers entering the market," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. For more, click here...
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