US construction spending falls in March [Yahoo! Finance]
Federal Home Loan Mortgage Corporation (FMCC)
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Source: Yahoo! Finance
The Commerce Department's Census Bureau said on Wednesday that construction spending slipped 0.2% after being unchanged in February. Economists polled by Reuters had forecast construction spending gaining 0.3%. Construction spending increased 9.6% year-on-year in March. Spending on private construction projects decreased 0.5% in March after rising 0.2% in February. Investment in residential construction dropped 0.7% after increasing 0.7% in the prior month. Outlays on new single-family construction projects fell 0.2%. Census Department data on Tuesday showed there were 728,000 housing units for sale in the first quarter compared to 665,000 in the first three months of 2023. Supply is below the 1.145 million units before the COVID-19 pandemic. Residential investment grew at its fastest pace in more than three years in the first quarter, contributing to the economy's 1.6% annualized expansion pace. Higher borrowing costs, however, are an obstacle. The average rate on the popu
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- US Mortgage Rates Decrease for Second Week, Falling to 7.02% [Yahoo! Finance]Yahoo! Finance
- Long-term mortgage rates retreat for second straight week, US average at 7.02% [Financial Post (Toronto, Ontario, Canada)]Financial Post
FMCC
Analyst Actions
- 2/26/24 - Keefe, Bruyette & Woods
FMCC
Sec Filings
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- 5/9/24 - Form ABS-15G/A
- FMCC's page on the SEC website