The 30-year fixed-rate mortgage averaged 6.94%, up from last week when it averaged 6.90%, Freddie Mac reported.
Wood Markets News
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.
US Housing Market Gained $2.4 Trillion in Value Year-Over-Year in December
As of December 2023, the US housing market gained $2.4 trillion in value over the last year, bringing its total value to $47.5 trillion, Redfin reported.
US Real GDP Increases at an Annual Rate of 3.2% in 2023Q4, BEA Reports in Its “Second” Estimate
US real GDP increased at an annual rate of 3.2% in Q4, following an increase of 4.9% in Q3.
Western Forest Products Completes Kiln Upgrade at Its Saltair Sawmill in BC; Announces Additional $35 Million Investment in BC
Western Forest Products has completed the installation of a continuous dry kiln at its Saltair Sawmill in BC and has plans for two additional kilns at other facilities in BC.