The level of commercial and multifamily mortgage debt outstanding at the end of 2023 was 2.8% higher than at the end of 2022, the MBA reported.
Wood Markets News
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for March
The University of Michigan Index of Consumer Sentiment declined slightly to a reading of 76.5, down from 76.9 in February.
Eastwood Forests Purchases 20,580 Acres of Forestland in Virginia and West Virgina
Eastwood Forests recently completed its acquisition of approximately 20,580 acres of forestland in Virginia and West Virginia, adding to its Climate Smart Forestry Fund portfolio.
US Building Materials Costs in Residential Construction Continue to Trend Higher in February
The prices of goods used in residential construction, less energy, increased for the fourth consecutive month in February, the BLS and NAHB reported.
Associated Builders and Contractors Construction Backlog Indicator Moves Lower in February
The Associated Builders and Contractors Construction Backlog Indicator declined to 8.1 months in February, down from 8.4 months in January.
Fixed-Rate Mortgages Continue to Move Lower in the Week Ending March 14th
The 30-year fixed-rate mortgage averaged 6.74%, down from last week when it averaged 6.88%, Freddie Mac reported.
Europe’s First College Building Entirely Constructed From Solid Wood Opens in the Netherlands
The Netherlands is now home to the first college building in Europe entirely constructed from solid wood, according to a profile by dezeen.
Producer Price Index for Final Demand Increases Month-Over-Month and Year-Over-Year in February
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.6% in February. This follows a 0.3% increase in January.
US Weekly Jobless Claims Inch Lower in the Week Ending March 9th
The advance figure for seasonally adjusted initial unemployment claims was 209,000 during the week ending March 9th, a decrease of 1,000 from last week.
Recent Forest Fires Have Quebec Questioning Its Long-Term Timber Harvest Projections
Quebec’s timber harvest targets are being called into question due to wildfires, climate disruption, and the province’s commitments to protect territory, Radio-Canada’s ICI Quebec reported.