A family earning a median income needed 38% of their income to cover the mortgage payment on a median-priced new home in Q3, NAHB and Wells Fargo reported.
Wood Markets News
The Conference Board’s US Leading Economic Index Edges Lower in October
The Conference Board Leading Economic Index (LEI) declined 0.4% to a reading of 99.5 (2016=100) in October, following a 0.3% decline in September (revised up from a 0.5% decline).
Quebec Invests C$12 Million to Support Upgrade of Domtar’s Pulp and Paper Mill in Windsor
Quebec is making a $12 million (CAD) investment to support the modernization of Domtar’s pulp and paper mill in Windsor, Paper Advance reported.
Investment in Canadian Building Construction Increases 2.1% in September
Investment in building construction in Canada rose 2.1% to $21.6 billion (CAD) in September, following a 0.2% increase in August.
US Home Prices Increase 5.9% Year-Over-Year in October
US home prices grew 0.5% month-over-month in October on a seasonally adjusted basis, matching September’s increase, Redfin reported.
Oregon Completes Santiam Forest Reforestation After 2020 Wildfires; 2.3 Million Seedlings Planted
The Oregon Department of Forestry reported that its four-year effort to reforest the Santiam State Forest after the 2020 wildfires hit an important milestone this month.
Mortgage Applications Increase in the Week Ending November 15th
Mortgage loan application volume increased 1.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Denmark to Plant 1 Billion Trees and Convert 10% of Farmland Into Forest
Danish lawmakers agreed on a deal to plant 1 billion trees and convert 10% of Denmark’s farmland into forest and natural habitats over the next two decades, AP reported.
Share of Mortgage Loans in Forbearance Increases for Fifth Consecutive Month in October
The total number of loans in forbearance as of October 31st increased to 0.47% of servicers’ portfolio volume, up from 0.34% in September, MBA reported.
Weyerhaeuser to Invest $500 Million to Build New TimberStrand Facility in Arkansas
Weyerhaeuser plans to invest approximately $500 million to build a new, state-of-the-art TimberStrand® facility near Monticello and Warren, Arkansas.