VIDA AB, owned 70% by Canfor Corporation, announced that it will invest approximately 700 million SEK, or $85 million (CAD), at its Bruza Sawmill in Hjältevad, Sweden.
Wood Markets News
Fannie Mae Home Purchase Sentiment Index Remains Low in November
The Fannie Mae Home Purchase Sentiment Index® declined 0.6 points in November, remaining within the bounds of the low-level plateau it established in the first half of 2023.
Mortgage Rates Continue to Fall, Nearing 7% in the Week Ending December 7th
The 30-year fixed-rate mortgage averaged 7.03%, down from last week when it averaged 7.22%, Freddie Mac reported.
Private Sector Job Cuts Increase Month-Over-Month but Decline Year-Over-Year in November
US-based employers announced 45,836 job cuts in November, a 24% increase from the 36,836 job cuts announced in October, according to the Challenger, Gray & Christmas, Inc.
US Weekly Jobless Claims Increase in the Week Ending December 2nd
The advance figure for seasonally adjusted initial unemployment claims was 220,000 during the week ending December 2nd, an increase of 1,000 from the previous week’s revised level of 219,000.
BC’s Klahoose First Nation Signs Landmark Forest Tenure Agreement With Interfor
The Klahoose First Nation has signed a deal with Interfor to purchase a tenure of 181,036 cubic meters of annual cut of forest lands located on the Sunshine Coast in the Nation’s traditional territory, the Campbell River Mirror reported.
BC Announces Amendments to the Province’s Lumber Regulations
BC announced that it was adding new amendments to its lumber regulations. BC says they will provide more opportunities for wood products to be manufactured in the province.
Mortgage Applications Increase Again in the Week Ending December 1st
Mortgage loan application volume increased 2.8% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association.
Stora Enso Celebrates the Opening of Wooden Architectural Landmark in Stockholm, Sweden
Stora Enso is celebrating the opening of a wooden architectural landmark building in the courtyard of Sweden’s National Museum of Science and Technology in Stockholm, Sweden, the company announced.
Bank of Canada Holds Interest Rate Steady at 5% as Economy Continues to Cool
On Wednesday, the Governing Council of the Bank of Canada has decided to hold its benchmark interest rate steady at 5%, CBC reported.