Pending home sales were unchanged month-over-month but up 3.8% year-over-year in September, NAR reported.
Wood Markets News
Bank of Canada Cuts Key Interest Rate to 2.25%
The bank lowered its key rate by 25 basis points to 2.25%, warning that US tariffs are reshaping Canada’s economy and limiting growth, CBC reported.
HS Timber Group Acquires Swedish Sawmill Malå Såg From Setra Group
HS Timber Group will acquire Malå Såg from Setra Group, adding a Swedish northern pine producer with 340,000 cubic meters of annual capacity.
US Mortgage Applications Rise in the Week Ending October 24
Mortgage loan application volume rose 7.1%, with refinance activity up 9.0% and purchase applications increasing 5.0%, MBA reported.
Milan Olympic Village Built With Mass Timber, Completed Ahead of Schedule
The six-building mass-timber complex will later become Italy’s largest affordable student housing site, dezeen reported.
S&P Cotality Case-Shiller Index Reports 1.5% Annual Gain in US Home Prices in August
US home prices rose 1.5% year-over-year in August, down slightly from a 1.6% gain in July.
USDA Trade Initiative Supports Southern Pine Export Expansion
USDA’s three-point trade plan supports SFPA goals to expand Southern pine lumber exports, reduce trade barriers, and strengthen rural economies.
US Government Shutdown Weighs on Housing Market and Buyer Confidence
Real Estate News reported that the extended federal shutdown is slowing real estate activity and making buyers more cautious.
US Consumer Confidence Index Declines Slightly in October
The Conference Board Consumer Confidence Index declined to 94.6 in October, down from a revised 95.6 in September, as expectations weakened while current views improved.
US Commercial Mortgage Delinquency Rates Decline in Q3
Delinquency rates for US commercial property mortgages declined in Q3, MBA reported.