The Mortgage Bankers Association reported that homebuyer affordability improved 0.1% in June. The national median payment applied for by applicants declined to $2,162 from $2,165 in May but up from $2,112 in April 2023.
Wood Markets News
US Dept. of Commerce Adds Antidumping and Countervailing Duties to Certain Hardwood Plywood Products Exported From Vietnam
The US Department of Commerce recently issued its final determination that plywood exported from Vietnam using inputs sourced from China is a product of China and is therefore subject to the antidumping duty and countervailing duty orders on hardwood plywood exported from China.
World’s Tallest Wood Turbine Being Constructed in Skara, Sweden
Modvion, a Swedish startup, is currently building the world’s tallest wooden turbine, according to a report by The Next Web. The company says the project is on track for completion this year.
Faroe Islands Gaining New University Built From Mass Timber
The building will be constructed from a mixture of cross-laminated timber (CLT) and glued laminated timber (glulam).
US Dept. of Commerce Announces Its Final Determination of Its Fourth Annual Review of Canadian Softwood Lumber Duties
US Department of Commerce announces final determination on softwood lumber trade duties for calendar year 2021.
Canfor Delays Final Decision on Rebuilding Its Houston Mill Due to Fiber Supply Issues
Canfor delayed its final decision on whether it will build a new sawmill to replace its recently closed Houston, BC, site.
Turmoil Returns to BC Ports as Dockworkers Reject Maritime Association’s Agreement for Second Time
The Canadian Press reports that late Friday evening, BC ports were thrown back into turmoil when members of the International Longshore and Warehouse Union Canada overwhelmingly rejected the offer presented by the BC Maritime Employers Association.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in June
Personal income increased 0.3% in June. Disposable personal income (DPI), personal income less personal current taxes, increased 0.3%. Personal consumption expenditures (PCE) increased 0.5%.
Canadian Real GDP Increased 0.3% in May
Real GDP increased 0.3% in May, following a 0.1% uptick in April. Service-producing industries were up 0.5%, but that increase was partially offset by a 0.3% decline in goods-producing industries.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for July
The Consumer Sentiment Index showed broad improvements in July.