The Federal Reserve raised the federal funds target range by 25 basis points to 3.75–4.0%, citing elevated inflation.
Wood Markets News
US Builder Confidence for Newly Built Single-Family Homes Sinks in September
The NAHB/Wells Fargo Housing Market Index fell 3 points to 32 in September, with 38% of builders cutting prices and 66% using sales incentives.
US New-Home Purchase Mortgage Applications Drop in August
Mortgage applications for new-home purchases fell 6.0% in August and were down 5.5% year-over-year, MBA reported.
US Mortgage Applications Decline in the Week Ending September 11
Mortgage loan application volume decreased 4.1% on a seasonally adjusted basis from one week earlier, MBA reported.
Latvia State Forest Service Updates Storm Damage Estimate
Latvia’s State Forest Service estimates nearly 500,000 cubic meters of trees were damaged by the August 22–23 storm.
Canadian Job Vacancies Steady in Q2
Canadian job vacancies held steady at 510,200 in Q2, while total labor demand rose 0.3% and the unemployed-to-vacancy ratio remained at 3.0.
NZ Super Fund Raises US Timberland Mandate With Domain Timber Advisors to US$200 Million
NZ Super Fund committed another US$50 million to its US timberland mandate with Domain Timber Advisors, bringing total committed capital to US$200 million.
BC Announces CA$15 Million for 2027 FireSmart Community Program
BC is investing CA$15 million in the 2027 FireSmart Community Funding and Supports program to help communities reduce wildfire risk and improve resilience.
US Wood Pellet Exports Increase in July
US wood pellet exports totaled more than 1.08 million metric tons in July, up from June and year-ago levels, the USDA and Biomass Magazine reported.
Canadian Existing-Home Sales Fall in August
Existing-home sales in Canada fell 0.7% in August as new listings rose and the sales-to-new listings ratio moved to 49.1%, CREA reported.