The 30-year fixed-rate mortgage averaged 6.88%, down from last week when it averaged 6.94%, Freddie Mac reported.
Wood Markets News
US Weekly Jobless Claims Unchanged in the Week Ending March 2nd
The advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending March 2nd, unchanged from last week.
Private Sector Job Cuts Increase 3.0% Month-Over-Month in February
US-based employers announced 84,638 job cuts in February, a 3.0% increase from January, according to Challenger, Gray & Christmas, Inc.
Oregon’s State Forester to Recommend Moving Forward With Controversial Habitat Conservation Plan
Oregon’s state forester will recommend moving forward with the controversial logging plan for 634,000 acres of state forest, The Salem Statesman Journal reported.
Junnikkala Commissions New Sawmill in Oulu, Finland
Finland’s Junnikkala recently commissioned its new €70 million sawmill in Oulu, Finland. The planned annual production is 350,000 m3 of sawn timber.
Construction Scheduled to Begin on Portland, Oregon’s Newest CLT Building
The construction of a 12-story, 51,388-square-foot, CLT building in downtown Portland, Oregon, is scheduled to begin construction in just a few months, DJC Oregon reported.
Mortgage Applications Increase in the Week Ending March 1st
Mortgage loan application volume increased 9.7% on a seasonally adjusted basis from one week earlier, the MBA reported.
ADP® Reports Increased Private Sector Employment and Compensation Gains in February
Nonfarm private sector employment increased by 140,000 jobs in February, and annual pay was up 5.1% year-over-year, ADP reported.
US Job Openings and Labor Turnover Summary for January
As of the last business day in January, the number of job openings changed little at 8.9 million.
New US Single-Family Home Production Showed Signs of Improvement in 2023Q4
Single-family growth rates saw a turnaround in 2023Q4, led by large urban metro markets, the NAHB reported.