New residential single-family home sales were at a SAAR of 664,000 in December, 8.0% above November and 4.4% above December 2022.
Wood Markets News
Fixed-Rate Mortgages Climb in the Week Ending January 25th
The 30-year fixed-rate mortgage averaged 6.69%, up from last week when it averaged 6.60%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 3.3% in 2023Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 3.3% in Q4, the BEA said in its “advance estimate. That follows a reported real GDP increase of 4.9% in Q3.
Mortgage Application Payments Move Lower in December
The Mortgage Bankers Association’s Purchase Applications Payment Index fell 3.8% to a reading of 161.8 in December, down from 168.2 in November.
US Weekly Jobless Claims Increase in the Week Ending January 20th
The advance figure for seasonally adjusted initial claims was 214,000 during the week ending January 20th, an increase of 25,000 from the previous week.
Exemplary Forestry Management Acquires 3,000 Acres in Maine, Launching Investment Fund
Exemplary Forestry Management and its partners have launched an investment fund with the acquisition of the 3,000-acre Scammon Ridge Headwaters in Maine.
Sveaskog, Sweden’s Largest Forest Owner, Raises Timber Prices
Citing strong demand for green raw materials, Sveaskog announced that it is raising the prices for private forest owners who sell their wood to Sveaskog.
Mortgage Applications Climb in Week Ending January 19th, Marking Third Consecutive Increase
Mortgage loan application volume increased 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Mortgage Bankers Association Expects Commercial/Multifamily Borrowing and Lending to Increase in 2024
The Mortgage Bankers Association expects total commercial/multifamily borrowing and lending to rise to $576 billion in 2024, a 29% increase from 2023.
US Population Growth Returns to Pre-Pandemic Rate
The US resident population grew by 1.63 million in 2023 to total population of 334.91 million, the Census Bureau and NAHB reported.