Homebuyer affordability declined in October, according to the Mortgage Bankers Association Purchase Applications Payment Index.
Wood Markets News
Canadian Real GDP Slips 0.3% in Q3, but Housing Investment Climbs
Canadian real gross domestic product (GDP) in Q3 declined 0.3% from Q2. The drop follows a 0.3% increase in Q2.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in October
Personal income increased 0.2% in October; disposable personal income, personal income less personal current taxes, increased 0.3%; and ersonal consumption expenditures increased 0.2%.
US Weekly Jobless Claims Increase in the Week Ending November 25th
The advance figure for seasonally adjusted initial unemployment claims was 218,000 during the week ending November 25th, an increase of 7,000 from the previous week.
Drax Canada to Curtail its Houston, BC, Pellet Plant Starting December 7th
Houston Today reported that Drax Canada’s Houston, BC, pellet mill will be producing its final batches of pellets for 2023 up until December 7th, after which it will be closed for at least the Christmas period.
Volume of Outstanding Acquisition, Development, and Construction Loans Declined in Q3
The National Association of Home Builders (NAHB) reported that the total outstanding acquisition, development, and construction (AD&C) loan volume declined in Q3.
Mortgage Applications Increase in the Week Ending November 24th
Mortgage loan application volume increased 0.3% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Real GDP Increases at an Annual Rate of 5.2% in Q3, BEA Reports in Its “Second” Estimate
According to the BEA’s “second” estimate for Q3, GDP increased at an annual rate of 5.2%. This follows a reported real GDP increase of 2.1% in Q2.
US Federal Housing Finance Agency Announces Higher Conforming Loan Limit Values for 2024
The US Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac will acquire in 2024.
Boise Cascade Announces Indefinite Curtailment of Lumber Production in Chapman, Alabama
Boise Cascade announced the indefinite curtailment of lumber production at its Chapman, Alabama, sawmill. Operations are scheduled to cease on January 28th, 2024.