Mortgage applications decreased 3.3% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 14. The Market Composite Index, a measure of loan application volume, decreased 3.3% from a week earlier. The refinance component of the index decreased 3% from the previous week, as did the purchase component of the index. The refinance share of mortgage activity was unchanged at 69% of total applications from the previous week. For more, click here...

U.S. housing starts in May were at a seasonally adjusted annual rate of 914,000 units, 6.8% higher than the revised April estimate and 28.6% higher than the May 2012 rate, according to the Census Bureau. Single-family starts in May were at a SAAR of 599,000 units, 0.3% above the revised April figure. Housing units authorized by permits were at a SAAR of 974,000 units, 3.1% below the revised April rate but 20.8% above the May 2012 estimate. For more, click here...

Builder confidence in the market for newly built, single-family homes hit a significant milestone in June, surging 8 points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index. Any reading higher than 50 indicates that more builders view sales conditions as good than poor. "This is the first time the index has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases," said NAHB Chairman Rick Judson, a home builder and developer from Charlotte, N.C. "With the low inventory of existing homes, an increasing number of buyers are gravitating toward new homes." For more, click here...

Thirty-year fixed-rate mortgages (FRMs) averaged 3.98% for the week ending June 13, up from last week's average of 3.91%, according to Freddie Mac. Last year at this time, the 30-year FRM averaged 3.71%. The 15-year FRM averaged 3.10% this week, up from last week's average of 3.03%. A year ago at this time, the 15-year FRM averaged 2.98%. One-year adjustable-rate mortgages (ARMs) averaged 2.58% this week, the same as last week. At this time last year, the one-year ARM averaged 2.78%. For more, click here...

Canada's New Housing Price Index rose 0.2% in April, following a 0.1% increase in March and similar gains over the past 12 months. For a third consecutive month, Calgary was the top contributor to the national advance, as prices for new homes rose 0.5% in April. Builders reported that higher material costs and labor costs as well as market conditions were the main reasons for higher prices. For more, click here...

Mortgage applications increased 5% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 7. The Market Composite Index, a measure of mortgage loan applications volume, increased 5% from a week earlier. The refinance component of the index increased 5% from the previous week. The purchase component of the index also increased 5% from a week earlier. The refinance share of mortgage activity increased to 69% of total applications, from 68% the previous week. For more, click here...

Canadian housing starts were at a seasonally adjusted annual rate of 200,178 units in May, up from 175,922 in April, according to Canada Mortgage and Housing Corp. Starts were trending at 182,756 units in May, compared to 182,971 in April. The trend is a six-month moving average of the monthly SAAR of housing starts. "The trend in total housing starts was essentially unchanged in May as gains in the multiple starts segment partly offset the moderation in activity that was observed in previous months, especially in Atlantic Canada and Ontario," said Mathieu Laberge, deputy chief economist at CMHC. For more, click here...

The number of U.S. housing markets on the mend rose by five to a total of 263 in June, according to the National Association of Home Builders/First American Improving Markets Index. The list includes entrants from 49 states and the District of Columbia. Twenty-nine new markets were added to the list this month, while 24 others were dropped from it. "This is the fifth consecutive month in which the index has designated more than 70% of U.S. metros as improving," observed NAHB Chairman Rick Judson, a builder from Charlotte, N.C. "While that's a good sign that the housing recovery is on solid footing, we know that various challenges are slowing its progress -- including continued issues with credit availability for builders and buyers, as well as appraisals that aren't keeping up with the rising cost of construction." For more, click here...

Canadian municipalities issued building permits worth $C7.0 billion in April, up 10.5% from March, according to Statistics Canada. The advance in April was a fourth consecutive monthly increase. April's advance came largely from higher construction intentions for multifamily dwellings in Ontario, British Columbia, and Quebec. For more, click here...

New-home production and remodeling contribute billions of dollars to the nation's economy each year, and with the right policies in place housing can serve as a catalyst to boost job and economic growth, the National Association of Home Builders told Congress June 4. "How lawmakers and regulators deal with tax reform, home energy codes, and the availability of building materials will go a long way to ensure a robust, long-term recovery for housing and the economy," said NAHB Chairman Rick Judson, a home builder and developer from Charlotte, N.C., in testimony before the House Energy and Commerce Committee's Subcommittee on Commerce, Manufacturing, and Trade. NAHB supports the goals of many in Congress to reform the tax code, and believes that lawmakers should maintain existing housing tax incentives because homeownership remains the major path to wealth for the middle class. For more, click here...

Pending home sales improved slightly in April and continue to be well above a year ago, according to the National Association of Realtors. Gains in the Northeast and Midwest were offset largely by declines in the West and the South. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.3% in April to a reading of 106.0, from 105.7 in March. The index is 10.3% above its level of April 2012. Home contract activity is at the highest level since the index hit 110.9 in April 2010, immediately before the deadline for the home buyer tax credit. Pending home sales have been above year-ago levels for the past 24 months. For more, click here...