Weyerhaeuser and Lapis Energy announced the execution of an exclusive exploration agreement for subsurface CO2 sequestration in Arkansas, Louisiana, and Mississippi.
Wood Markets News
US Pending Homes Sales Decline Month-Over-Month and Year-Over-Year in January
The National Association of Realtors Pending Homes Sales Index declined 4.9% month-over-month to a reading of 74.3.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in January
Personal income increased 1.0% month-over-month in January; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.2%.
30-Year Fixed-Rate Mortgages Rise in the Week Ending February 29th—Fourth Consecutive Increase
The 30-year fixed-rate mortgage averaged 6.94%, up from last week when it averaged 6.90%, Freddie Mac reported.
US Weekly Jobless Claims Climb in the Week Ending February 24th
The advance figure for seasonally adjusted initial unemployment claims was 215,000 during the week ending February 24th, an increase of 13,000 from the previous week.
Mississippi’s Drought: Boots-On-The-Ground View of Its Impact on the Forest Industry
On Tuesday, a WDAM7/WLBT3 video highlighted the impact of the drought from a boots-on-the-ground prospective.
Wildfires Continue to Scorch the Texas Panhandle; Governor Issues Disaster Declarations for 60 Counties
Wildfires scorched the Texas Panhandle on Wednesday, including a blaze that grew into one of the largest in state history, The AP reported.
Concerns About Lawsuits Lead to Defeat of Oregon Timber Accountability Legislation
Supporters of Oregon House Bill 4106, including timber companies and some county governments, are expressing disappointment after the defeat of the proposal, The Capital Press reported.
Metsä Group to Close Its Merikarvia, Finland, Sawmill by the End of June
Metsä Group said change negotiations concerning its Merikarvia sawmill have ended, and it has decided to close down operations by the end of June.
Mortgage Applications Decline in the Week Ending February 23rd, as Interest Rates Climb Above 7%
Mortgage loan application volume decreased 5.6% on a seasonally adjusted basis from one week earlier, the MBA reported.