Mortgage loan application volume increased 7.4% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Wood Markets News
Producer Price Index for Final Demand Unchanged Month-Over-Month but Up Year-Over-Year in November
The Producer Price Index (PPI) for final demand, seasonally adjusted, was unchanged in November, following a decline of 0.4% in October.
US Asking Rent Declines 2.1% Year-Over-Year in November
The median US asking rent declined 0.6% month-over-month and 2.1% year-over-year in November to $1,967, Redfin reported.
Canadian National to Acquire Iowa Northern Railway
Canadian National Railway (CN) has signed and closed an agreement to acquire Iowa Northern Railway (IANR). IANR operates approximately 275 track miles in Iowa connecting to CN’s US network.
Mortgage Credit Availability Declines in November
The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) shows mortgage credit availability declined in November.
Proposed Building Code Changes in BC Will Expand Mass Timber to Taller Buildings
British Columbia’s Minster of Housing announced that proposed changes to the BC building code will expand the use of mass timber to build taller buildings.
Consumer Price Index Increases 0.1% in November; All-Item Index Up 3.1% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.1% in November, on a seasonally adjusted basis, after being unchanged in October.
Paper Log House Prototype Provides Temporary Accommodations in Maui’s Lahaina Neighborhood
Archinect is featuring a new collaborative prototype to provide residents of Maui’s Lahaina neighborhood with much-needed temporary accommodations following August’s wildfires.
US Total Consumer Credit Outstanding Increases in October
Total consumer credit outstanding in October reached a seasonally adjusted annual rate (SAAR) of $4.99 billion, according to a NAHB review of the Fed’s latest G.19 Consumer Credit report.
NFIB’s Small Business Optimism Index Declines in November; Pessimistic Outlook for 2024
The NFIB’s November SBOI declined 0.1 points to a reading of 90.6. This marks the twenty-third consecutive month that the SBOI has been below the 49-year average reading of 98.