The Federal Reserve announced it was holding interest rates steady and made no changes to its forecast that it will be necessary to cut rates three times in 2024, Yahoo Finance reported.
Wood Markets News
Mortgage Applications Decline as Mortgage Rates Rise in the Week Ending March 15th
Mortgage loan application volume declined 1.6% on a seasonally adjusted basis from one week earlier, the MBA reported.
US Home Prices Climb 0.6% Month-Over-Month in February, Returning to Pre-Pandemic Average
The Redfin Home Price Index showed that US home prices climbed 0.6% month-over month in February, on par with the average gain in the years leading up to the pandemic.
UK Startup Hopes to Change How Affordable Housing is Built Across Europe and the US
AUAR has just raised £2.6m to kickstart plans to build affordable homes across Europe and the US, according to a recent profile by sifted.
Canadian Job Vacancies Decline at a Slower Rate in 2023Q4
In 2023Q4, job vacancies in Canada fell by 3.6%, or 25,400, to 678,500. The job vacancy rate decreased 0.1 percentage point to 3.8%.
US Housing Starts, Building Permits, and Completions Bounce Back in February
Privately‐owned housing starts in February were at a SAAR of 1,521,000, 10.7% above the revised January estimate of 1,374,000.
Fannie Mae Economic and Strategic Research Group Lowers Expectations for Total Home Sales in 2024
According to the ESR Group, the increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024.
West Fraser and Woodland Cree First Nation Sign Good Relations Agreement
West Fraser and the Woodland Cree First Nation recently signed a Good Relations Agreement to mark a new era of partnership.
Mortgage Applications for New Home Purchases Expand in February
Mortgage applications for new home purchases increased 1.0% month-over-month and 15.7% year-over-year in February, the MBA reported.
British Columbia to Expand the Use of Wildfire Predictive Technology
In advance of the 2024 wildfire season, BC is introducing technology that can produce real-time wildfire behavior predictions.