Harvard’s LIRA projects that year-over-year growth in US home renovation and repair spending will slow through 2026.
Wood Markets News
US Mortgage Application Payment Index Falls in December
The national median mortgage payment declined to $2,025 in December 2025 from $2,034 in November, as borrower affordability continued to improve, MBA reported.
Glennon Brothers Acquires UK Timber-Processing Business Pontrilas Group
Glennon Brothers has acquired UK timber processor Pontrilas Group, boosting its production capacity and expanding its presence across the UK timber market.
US Mortgage Rates Edge Higher in the Week Ending January 29
The 30-year fixed-rate mortgage averaged 6.10%, up from 6.09% the previous week, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending January 24
The advance figure for seasonally adjusted initial unemployment claims was 209,000, a decrease of 1,000 from the previous week.
Federal Reserve Leaves Interest Rates Unchanged
The Fed held its benchmark interest rate steady, citing “solid” economic growth and “somewhat elevated” inflation, CBS News reported.
Bank of Canada Holds Policy Rate Steady
The Bank of Canada held its policy rate at 2.25% on Wednesday, adding that elevated uncertainty makes it difficult to predict the timing or direction of future rate changes.
State-Level Construction Employment Data for December
The construction industry shed a net 11,000 jobs in December 2025, the BLS and NAHB reported.
US Mortgage Applications Fall in the Week Ending January 23
Mortgage application volume fell 8.5% on a seasonally adjusted basis, as higher rates weighed on refinancing activity, MBA reported.
720 Modular Advances Multi-Phase Modular Apartment Project on Prince Edward Island
720 Modular is advancing a multi-phase apartment project on Prince Edward Island, using modular construction to shorten build timelines, SiteNews reported.