Consumer credit outstanding growth slowed to a seasonally adjusted annual rate (SAAR) of 0.4% in Q3, according to the Fed and NAHB analysis.
Wood Markets News
Fannie Mae’s Home Purchase Sentiment Index® Increases in October Despite Higher Mortgage Rates
Fannie Mae’s Home Purchase Sentiment Index® (HPSI) inched 0.4 points higher to a reading of 64.9 in October.
States of Emergency Declared as Late Season Wildfires Burn Out of Control
Many states have already or are preparing to declare a state of emergency to deal with numerous wildfires that are consuming thousands of acres of forestland.
Commercial/Multifamily Borrowing Down in Q3
In Q3, Commercial and multifamily originations were down 49% year-over-year and 7% when compared to Q2, according to the Mortgage Bankers Association.
Ireland Forms New Steering Group to Examine Greater Use of Timber in Construction
Ireland announced on Tuesday the creation of a new steering group to examine increasing the use of timber in Irish construction.
Portland, Oregon’s New CLT Airport Terminal Helping Increase Interest in Mass Timber
Portland, Oregon’s new airport terminal, built with CLT, is featured in a new profile by Good News Network.
Louisiana’s Wildfire Losses Estimated at $71 Million but Predicted to Climb Higher as Fires Continue
Wildfires dealt a blow of at least $71 million to the Louisiana’s timber sector, according to estimates from the LSU AgCenter reviewed by the Greater Baton Rouge Business Report.
BC Announces Additional Investments to Help Manufacturing Companies Grow in Northern BC
BC announced that it is investing more than $1.2 million (CAD) in a variety of expansion projects to help manufacturing companies grow.
Finland’s Oldest Sawmill, Kotakamills, to Close Its Doors by Year’s End
Citing the high cost of raw materials and the declining price of sawn timber, Finland’s oldest sawmill will close by the end of the year, according to Yle News.
Timber High-Rise Completed in Tokyo, Japan
“Port Plus,” located outside central Tokyo, Japan, is the subject of a recent profile by BNN Bloomberg.