Wildfires from 2023 that went dormant over the winter have once again moved above ground, producing visible smoke and smoldering, CBC reported.
Wood Markets News
Mortgage Credit Availability Improves in January
The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) increased 0.7% to a reading of 92.7 in January.
Canadian Employment Increases in January, but Lags Population Growth
Employment in Canada increased by 37,000 in January, following three consecutive months with little change.
US Wood Pellet Exports Increase Month-Over-Month and Year-Over-Year in December
The US exported 1.10 million metric tons of wood pellets in December, up from 655,649.2 metric tons in November, a Biomass Magazine review of USDA data shows.
Canfor Pulp Products Announces Sale of Its Taylor, BC, BCTMP Pulp Mill Site
Canfor Pulp Products Inc. announced that it has entered into an asset purchase agreement to sell its Taylor, BC, BCTMP pulp mill site for $7 million (CAD).
30-Year Fixed-Rate Mortgages Inch Higher in the Week Ending February 8th
The 30-year fixed-rate mortgage averaged 6.64%, up from last week when it averaged 6.63%, Freddie Mac reported.
US Weekly Jobless Claims Decline in the Week Ending February 3rd
The advance figure for seasonally adjusted initial unemployment claims was 218,000, a decrease of 9,000 from the previous week’s revised level.
Vancouver, BC, City Council Takes Steps to Remove Barriers to Mass Timber Construction
Vancouver has taken its first steps toward creating a new policy program to “remove barriers to mass timber” and encourage more developers to utilize the building form, Storeys reported.
US Housing Affordability Remains Near Record Low in 2023Q4
In 2023Q4, just 37.7% of all new and existing homes sold were affordable to families earning the US median income of $96,300, NAHB reported.
Limited Housing Availability and Elevated Mortgage Rates Remain a Headwind to Homeownership
The US homeownership rate declined to 65.7%, a result of continuing tight housing supply and elevated mortgage interest rates, according to the Census Bureau and NAHB.