The destruction left in the path of last year’s Oregon fire season is slowly coming into focus. Last September more than a million acres burned, destroying many homes and in some place entire communities across much of western Oregon. Weyerhaeuser timberlands were impacted by several of the fires, including approximately 125,000 acres that need to be replanted.
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Producer Price Index (PPI) for final demand, seasonally adjusted increased 1.0% in March. Final demand prices rose 0.5% in February and 1.3% in January.
In a keynote address on Thursday (4-8-21) at the virtual Council of Forest Industries (COFI) conference, British Columbia’s Premier John Horgan addressed the ongoing timber shortage in the province. “There is too little fiber, and we need to do something about that,” Horgan said.
According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) that analyzes date from the Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability increased in March.
Statistics Canada (StatsCan) is reporting that employment in Canada increased by 303,000 or 1.6% in March and is now within 1.5% of its pre-COVID-19 level of February 2020. The unemployment rate fell -0.7% points to 7.5% the lowest level since February 2020.
According to the Remodeling Market Index (RMI) released today by the National Association of Home Builders (NAHB), remodelers confidence was up sharply year-over-year. In Q1 of 2021, the RMI posted a reading of 86, up 38 points from Q1 of 2020.
Maine’s Hancock Lumber, a seventh-generation integrated forest products company, which currently operates nine existing lumber yards, eight kitchen design showrooms, three sawmills, truss and wall panel manufacturing facilities, and timberlands, has announced that it has agreed to purchase Lapointe Lumber, a fourth-generation building materials supplier, with facilities in the Augusta and Gardiner markets.
The U.S. Department of Labor is reporting that an additional 744,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, April 3, 2021 — an increase of 16,000 from the previous week’s revised level.
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending April 8, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.13% with an average 0.7 point, down from last week when it averaged 3.18%.
The use of mass timber as a building material lowers emissions, promotes innovation, and supports value-added manufacturing. That is why Canada is investing in the use of mass timber in building applications to support Canadian forestry workers with new uses of for wood.