The Royal Bank of Canada released a report stating Canada could become a world leader in sustainable construction if the country shifts to mass timber for buildings.
Wood Markets News
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for November
The University of Michigan Index of Consumer Sentiment declined to a reading of 60.4 in November, down from 63.8 in October. This is a month-over-month decline of 5.3%.
Indonesia Launches Carbon Trading Scheme for Forestry and Land Use Sectors
Indonesia has launched a carbon trading scheme to boost GHG emissions absorption from the forestry and other land use sectors to reach its carbon dioxide reduction targets by 2030, Tempo.co reported.
Log Exports to Resume Out of Oregon’s Port of Astoria Starting in December
Northwest Forest Link will begin exporting logs overseas to China out of Astoria, Oregon’s Pier 1 beginning in December, The Astorian reported.
Mortgage Rates Push US Housing Affordability to Lowest Level in More Than a Decade
Just 37.4% of new and existing homes sold during Q3 were affordable to families earning the US median income of $96,000, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.
Mortgage Rates Trend Lower in the Week Ending November 9th
The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.
US Mortgage Delinquency Rate Increases in Q3
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of Q3, the Mortgage Bankers Association reported.
US Weekly Jobless Claims Decline in the Week Ending November 4th
The advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending November 4th. This is a decrease of 3,000 from the previous week.
Canadian Building Permits Decline 6.5% in September
The total monthly value of building permits in Canada fell 6.5% in September to $11.2 billion (CAD). In Q3, the value of building permits increased 4.9% from Q2 to $34.6 billion.
Mortgage Applications Increase in the Week Ending November 3rd
Mortgage loan application volume increased 2.5% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.