The advance figure for seasonally adjusted initial unemployment claims was 198,000 during the week ending October 14th, a decrease of 13,000 from the previous week.
Wood Markets News
US Housing Starts and Completions Increase While Permits Decline in September
Privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,358,000. This is 7.0% above the revised August estimate of 1,269,000.
Oregon Mass Timber Coalition Awarded $41.4 Million Grant to Modernize Oregon’s Forest Products Industry
The Oregon Mass Timber Coalition has been awarded $41.4 million by the US Economic Development Administration to modernize and boost the forest products industry in Oregon.
Multi-Unit Construction Continues to Lift Canadian Housing Starts in September
The trend in housing starts was higher in September, up 3.9% to 254,006 units from August’s 244,511 units, the Canada Mortgage and Housing Corporation reported.
Ledinek Begins Shipping Cutting-Edge Machinery to SmartLam’s New GLT Facility in Dothan, Alabama
Ledinek announced that the initial shipments containing the equipment for SmartLam’s new GLT facility located in Alabama have left Ledinek’s Hoče manufacturing site.
Mortgage Applications Fall to Lowest Level Since 1995 in the Week Ending October 13th
Mortgage loan application volume decreased 6.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
US Forest Service Celebrates National Forest Products Week
Brian Brashaw, US Forest Service Assistant Director for State, Private & Tribal Forestry and Wood Innovations, remarks on National Forest Products Week.
US Builder Confidence Declines for Third Consecutive Month in October
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index fell four points to 40 in October.
To Afford a Median-Priced Home, US Homebuyer Must Earn 15% More Than a Year Ago
The average US home buyer must earn $114,627 to afford a median-priced home, Redfin reported. That is up 15%, or $15,285, from a year ago.
Replanting Program Continues Across New South Wales, Australia, Softwood Plantations Following 2019–20 Fires
Since the 2019–20 bushfires in New South Wales, Australia, 40 million seedlings have been replanted in pine forests, according to the Forestry Corporation of NSW.