Commercial and multifamily mortgage loan originations were 25% lower in 2023Q4 when compared to 2022Q4, the MBA reported.
Wood Markets News
NFIB Small Business Optimism Index Trends Lower to Start 2024
The National Federation of Independent Business Small Business Optimism Index declined 2.0 points to a reading of 89.9 in January.
Rosboro Closes Springfield, Oregon, Stud Mill; Plans to Reopen in Two Years as Glulam Facility
Greater details have become available regarding Rosboro’s recent announcement that it was temporarily closing its Springfield, Oregon, stud mill, according to reporting by The Register-Guard.
Drax Begins Construction on Longview, Washington, Wood Pellet Manufacturing Facility
Drax, under its subsidiary Pinnacle Renewable Holdings, is building a plant in Longview, Washington, to manufacture wood pellets for power generation in Asia, The Daily News reported.
Mortgage Delinquencies Grow in 2023Q4
The delinquency rate for mortgage loans on 1–4-unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of Q4, the MBA reported.
Lending Standards Loosened for Commercial and Residential Real Estate Loans in 2023Q4
Lending standards loosened for all commercial real estate loan and residential real estate categories in Q4, an NAHB review of the Fed’s Senior Loan Officer Opinion Survey shows.
US Asking Rents Up Year-Over-Year in January, but Less Volatile Than Pandemic Years
The median US asking rent rose 1.1% year-over-year to $1,964 in January, the largest annual increase since March 2023, Redfin reported.
Owens Corning Announces Acquisition of Masonite International Corporation for $3.9 Billion
Owens Corning and Masonite International Corporation have entered into an agreement under which Owens Corning will acquire all outstanding shares of Masonite for approximately $3.9 billion.
VMG Group Opens LVL, I-Joist, and Structural Particleboard Facility in Lithuania
The VMG Lignum Construction factory has an annual capacity of 120,000 m3 of LVL, 15 million meters of I-joists, and 200,000 m3 of structural particleboard.
How Carbon Credits Are Impacting New Hampshire’s Forest Products Industry
The New Hampshire Business Review explored the impact of carbon credits on New Hampshire’s forest industry.