Chile’s Empresas Copec announced that it has agreed to sell some of its forestry businesses to Brazilian pulp and paper company Klabin in a sale worth approximately $1.16 billion, according to Reuters.
Wood Markets News
US Real GDP Increases at an Annual Rate of 4.9% in Q3, BEA Reports in Its “Third” Estimate
Real GDP increased at an annual rate of 4.9% in Q3, the BEA said in its “third” estimate. This follows a reported real GDP increase of 2.1% in Q2.
Fixed-Rate Mortgages Continue to Decline in the Week Ending December 21st
The 30-year fixed-rate mortgage averaged 6.67%, down from last week when it averaged 6.95%, according to Freddie Mac.
Mortgage Application Payments Trend Lower in November
The Mortgage Bankers Association’s Purchase Applications Payment Index (PAPI) fell 2.8% to a reading of 170.9 in November, down from 175.9 in October.
The Conference Board’s US Leading Economic Index® Declines Again in November
The Conference Board Leading Economic Index® (LEI) declined 0.5% in November to a reading of 103.0 (2016=100), following a decline of 0.1% in October.
US Weekly Jobless Claims Increase in the Week Ending December 16th
The advance figure for seasonally adjusted initial unemployment claims was 205,000 during the week ending December 16th, an increase of 2,000 from the previous week’s revised level.
Mississippi’s 2023 Timber Harvest Expected to Set Record for the 21st Century
Mississippi’s 2023 timber harvest is expected to exceed 36 million tons, a record for the 21st Century, the Mississippi State University Extension Service reported.
US Existing-Home Sales Improve Modestly Month-Over-Month in November but Remain Lower Year-Over-Year
Total existing-home sales recorded a 0.8% increase in November from October to a seasonally adjusted rate of 3.82 million homes, the National Association of Realtors reported.
Washington Sets Aside 2,000 Acres of State Forest Land for Conservation
Washington Commissioner of Public Lands Hilary Franz announced on Monday a proposal to conserve some 2,000 acres of state forest land, The Seattle Times reported.
Mortgage Applications Decline in the Week Ending December 15th
Mortgage loan application volume declined 1.5% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.