Canadian housing starts were nearly flat in August at 229,046 units (SAAR), while the six-month trend fell 1.3% to 244,149, CMHC reported.
Wood Markets News
Canadian Industrial Product and Raw Materials Price Indices Rise in August
The Industrial Product Price Index rose 1.3% in August, while the Raw Materials Price Index increased 3.1%.
The Conference Board US Leading Economic Index Slips in August
The Conference Board Leading Economic Index fell 0.1% in August to 99.5, its first decline since March.
Western Washington University Building Highlights Mass Timber Design
Western Washington University’s Kaiser Borsari Hall cut embodied carbon 79% using CLT panels and glulam beams and columns.
US Housing Starts Fall in August but Single-Family Starts Climb 7.6%
US housing starts fell 2.6% in August. Permits declined 2.7%, while completions fell 11.9%.
US Mortgage Rates Surge Higher in the Week Ending September 17
The 30-year fixed-rate mortgage averaged 6.95%, up from 6.76% the previous week, Freddie Mac reported.
US Pending Home Sales Rise in August
Pending home sales rose 0.3% in August but fell 4.7% year-over-year, with all four major US regions lower from a year earlier, NAR reported.
Value of Canadian Building Permits Falls in July
The total value of Canadian building permits fell 17.3% to CA$12.2 billion in July, with both residential and nonresidential intentions declining.
US Weekly Initial Jobless Claims Drop in the Week Ending September 12
The advance figure for seasonally adjusted initial unemployment claims was 196,000, a decrease of 10,000 from the previous week.
Stora Enso Concludes Veitsiluoto Sawmill Closure Negotiations
Stora Enso has completed negotiations to permanently close its sawmill in Kemi, Finland. Production has been curtailed since August and will now be permanently discontinued.