Investment in Canadian building construction declined 1.2% in May to $19.9 billion (CAD). On a constant dollar basis (2012=100), investment in building construction fell 1.5% to $11.5 billion.
Wood Markets News
Mortgage Applications Increase in the Week Ending July 14th
According to the Mortgage Bankers Association, mortgage loan application volume increased 1.1% on a seasonally adjusted basis from one week earlier. The results include an adjustment for the observance of Independence Day.
US Builder Sentiment Up for Seventh Consecutive Month in July
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes increased 1 point in July to a reading of 56.
Canada Mortgage and Housing Corp. Reports Record Monthly Increase in Housing Starts in June
The Canada Mortgage and Housing Corporation reported that a significant increase in actual housing starts in June helped reverse the declining trend in housing starts observed over the last several months.
Canada’s Industrial Product Price Index and Raw Materials Price Index Both Decline in June
The Industrial Product Price Index (IPPI) decreased 0.6% month-over-month in June and has declined 5.5% year-over-year. Excluding energy and petroleum products, the IPPI fell 0.9% in June.
Shares of Mortgage Loans in Forbearance Continued to Decline in June
According to the Mortgage Bankers Association, the total number of loans in forbearance as of June 30th decreased 5 basis points to 0.44% of servicers’ portfolio volume. An estimated 220,000 homeowners remain in forbearance plans.
Anthony Timberlands Center at University of Arkansas Nets Two World Architecture Festival Honors
The Anthony Timberlands Center for Design and Materials Innovation is under construction but has just received two international honors from the World Architecture Festival 2023, according to a press release by the University.
Canadian Consumer Price Index Climbed Higher in June
The Canadian Consumer Price Index (CPI) increased 2.8% year-over-year in June, following a 3.4% increase in May. Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.
Wildfires in Canada Continue to Set New Records for Total Land Burned
The Canadian Press reported on Sunday that Canada’s record-breaking wildfire season has now seen 100,000 kilometers (38,610 square miles) of land scorched as blazes continue burn out of control across the entire country.
Fannie Mae’s Home Price Index Increases in Q2
According to Fannie Mae’s latest Home Price Index, single-family home prices increased 3.0% year-over-year in Q2. This is down from Q1’s revised annual growth rate of 4.9%. On a quarterly basis, home prices rose a seasonally adjusted 1.9% in Q2.