According to the ESR Group, the economy now appears to be on firmer footing than previously thought.
Wood Markets News
Investment in Canadian Building Construction Increases in August
Investment in building construction edged 0.2% higher in August, following a 1.6% decrease in July. Year-over-year, investment grew 7.2%.
US Mortgage Rates Climb for Third Consecutive Week
The 30-year fixed-rate mortgage averaged 6.44%, up from last week when it averaged 6.32%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Decrease 6.0% in September
Mortgage applications for new-home purchases decreased 6.0% in September but remained 10.8% higher year-over-year, MBA reported.
EU Launches Anti-Dumping Investigation Into Chinese Plywood Imports
The European Union is launching an anti-dumping investigation into Chinese plywood imports, Timberbiz reported.
US Weekly Initial Jobless Claims Decline in the Week Ending October 12th
The advance figure for seasonally adjusted initial unemployment claims was 241,000, a decrease of 19,000 from the previous week’s revised level.
Interfor to Exit Its Québec Operations
Interfor plans to exit its operations in Québec, Canada, including the sale of its three manufacturing facilities and the closure of its Montréal corporate office.
Oregon Dedicates a State Forest to Carbon Storage and Crediting
Oregon is the second state to enroll an entire state forest in a plan to store carbon in exchange for carbon credits, The Oregon Capital Chronicle reported.
Norfolk Southern Says Some Hurricane-Damaged Lines Won’t Reopen Until January 2025
Norfolk Southern officials said its East Tennessee rail network devastated by Hurricane Helene could take months to reopen, Fox Weather reported.
Canadian Housing Starts Rise 5% in September
The Canada Mortgage and Housing Corporation reported that the annual pace of housing starts in Canada was up 5% in September.