The Mortgage Bankers Association Purchase Applications Payment Index showed that homebuyer affordability declined in January.
Wood Markets News
US Existing-Home Listings Increase in February, but Higher Mortgage Rates Stifle Sales
In the four-week period ending February 25th, new listings of US homes for sale increased 13% year-over-year, Redfin reported.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for February
The Index of Consumer Sentiment increased to a reading of 76.9 in February, down from 79.0 in January. This is a month-over-month decline of 2.7% but up 14.9% year-over-year (66.9 in February 2023).
Canadian Real GDP, Income, and Expenditures for 2023Q4
Read GDP inched 0.2% higher in 2023Q4, following a 0.1% decline in Q3.
Roseburg’s New East Coast Sawmill in Roanoke Rapids, NC, Donates First Truckload to Local 4-H
Roseburg’s new east coast sawmill facility in Roanoke Rapids, NC, has produced it first full truckload of market-ready southern pine lumber.
Weyerhaeuser and Lapis Energy Announce Carbon Sequestration Exploration Agreement
Weyerhaeuser and Lapis Energy announced the execution of an exclusive exploration agreement for subsurface CO2 sequestration in Arkansas, Louisiana, and Mississippi.
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.