Roseburg announced that it will permanently cease operations at its Missoula, Montana, particleboard plant on Wednesday, May 22nd.
Wood Markets News
US Existing-Home Sales Increase Month-Over-Month in February, but Remain Lower Year-Over-Year
Existing home sales increased 9.5% month-over-month in February to a seasonally adjusted rate of 4.38 million, the National Association of Realtors reported.
Metsä Group to Temporarily Halt Production at Several Mills in Finland Due to Strikes
Metsä Group announced that production at various Finland-based board mills and sawmills will temporarily shut down due to ongoing strikes.
US Fixed-Rate Mortgages Climb Higher in the Week Ending March 21st
The 30-year fixed-rate mortgage averaged 6.87%, up from last week when it averaged 6.74%, Freddie Mac reported.
The Conference Board’s US Leading Economic Index® Creeps Higher in February
The Conference Board’s Leading Economic Index® increased 0.1% in February, following a decline of 0.4% in January.
Complex Engineering Behind PDX’s Mass Timber Terminal Project
The Engineering News-Record has provided an in-depth update on the progress of Portland International Airport’s new terminal.
US Weekly Jobless Claims Move Lower in the Week Ending March 16th
The advance figure for seasonally adjusted initial unemployment claims was 210,000, a decrease of 2,000 from the previous week.
Alberta Officials Welcome Mondi Group to the Province After Its Purchase of Hinton Pulp Mill
Mondi recently completed the purchase of the Hinton Pulp mill from West Fraser.
Federal Reserve Leaves Interest Rates Unchanged; Still Plans Three Rate Cuts in 2024
The Federal Reserve announced it was holding interest rates steady and made no changes to its forecast that it will be necessary to cut rates three times in 2024, Yahoo Finance reported.
Mortgage Applications Decline as Mortgage Rates Rise in the Week Ending March 15th
Mortgage loan application volume declined 1.6% on a seasonally adjusted basis from one week earlier, the MBA reported.