BC announced it was providing new funding for six wood product manufacturers that will help create and protect hundreds of resource-sector jobs and strengthen BC’s value-added wood sector.
Wood Markets News
US Builder Confidence Continues to Climb Higher in January
The National Association of Home Builders/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes increased 7 points in January.
Mortgage Applications Increase in the Week Ending January 12th
Mortgage loan application volume increased 10.4% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.
US Rail Traffic Declines 4.1% in the Week Ending January 13th
Total weekly rail traffic was 457,453 carloads and intermodal units, down 4.1% compared to the same week last year, the American Association of Railroads reported.
Canadian Industrial Product and Raw Materials Price Indexes Both Decline in December
The prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 1.5% month-over-month in December.
Canadian Housing Starts Move Higher in December, but 6-Month Moving Average Slips
The six-month trend in housing starts was 2.1% lower month-over-month in December, with 249,898 units being reported, CMHC reported.
BC Wildfire Service Says Over 100 Wildfires Are Still Burning in the Province
A combination of a busy 2023 wildfire season, drought, and drier conditions through December have left more than 100 wildfires still burning in BC, The Canadian Press reported.
Home Price Growth Falls Further in 2023Q4, Fannie Mae Reports
Single-family home prices increased 7.1% year-over-year in 2023Q4, the Fannie Mae Home Price Index (FNM-HPI) showed.
Delinquency Rate for Mortgages Backed by Commercial Properties Increases in 2023Q4
According to MBA’s commercial real estate finance Loan Performance Survey, during 2023Q4 the delinquency rate for mortgages backed by commercial properties increased from 2023Q3.
Canadian Consumer Price Index Climbs 3.4% Year-Over-Year in December
The Canadian Consumer Price Index (CPI) increased 3.4% year-over-year in December, following a 3.1% gain in November.