Southern Forest Industries will temporarily close its Smarr, Georgia, sawmill after its largest customer, PalletOne, ended operations at the site.
Wood Markets News
Pending US Home Sales Edge Lower as Buyers Wait for Lower Rates
Pending home sales fell 0.3% in the four weeks ending November 9, while new listings continue to rise modestly, Redfin reported.
US Mortgage Rates Little Changed in the Week Ending November 13
The 30-year fixed-rate mortgage averaged 6.24%, up slightly from 6.22% the previous week, Freddie Mac reported.
EU Parliament Advances Plan to Ease Anti-Deforestation Rules
EU lawmakers backed a draft bill to ease anti-deforestation due diligence rules as talks continue over legal concerns, with a final vote expected in late November, Euronews reported.
Mass Timber Education Center Expands Auburn University’s Kreher Preserve
Auburn University’s Kreher Preserve opened a new 5,000-square-foot mass-timber education center, Architectural Record reported.
Value of Canadian Building Permits Climbs in September
The total value of Canadian building permits rose 4.5% in September to CA$11.7 billion, with residential and nonresidential intentions both increasing.
US Mortgage Credit Availability Index Rises in October
The MBA Mortgage Credit Availability Index rose 2.3% to 106.8 in October, with conventional credit leading the monthly increase.
US Mortgage Applications Increase in the Week Ending November 7
Mortgage loan application volume increased 0.6% on a seasonally adjusted basis in the week ending November 7, MBA reported.
Metsä Fibre Starts Talks on Possible 90-Day Layoffs at Four Finnish Sawmills
Metsä Fibre has begun change negotiations on possible 90-day layoffs affecting about 350 workers at its sawmills in Lappeenranta, Rauma, Renko, and Vilppula.
Metsä Group to Cut 520 Positions in Finland
Metsä Group will cut 520 permanent positions in Finland—up to 440 through redundancies—as part of its EUR 300 million savings program, with further talks ongoing abroad.