The 30-year fixed-rate mortgage averaged 6.87%, down from last week when it averaged 6.89%, Freddie Mac reported.
Wood Markets News
Southern Pine Lumber Exports Fall 2.2% in December
Southern pine exports (both treated and untreated) totaled 565.7 MMBF in 2024, an 11% increase compared to 2023, the SFPA and USDA reported.
NAHB Multifamily Market Survey Shows Mixed Results for Q4
The NAHB Multifamily Market Survey’s Multifamily Production Index (MPI) increased 7 points year-over-year to a reading of 48, still below the break-even point of 50.
US Producer Price Index for Final Demand Up 3.5% Year-Over-Year in January
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.4% in January.
US Weekly Initial Jobless Claims Decline in the Week Ending February 8
The advance figure for seasonally adjusted initial unemployment claims was 213,000, a decrease of 7,000 from the previous week’s revised total.
Canfor Opens New State-of-the-Art Sawmill in Axis, AL
Canfor Southern Pine recently held an opening ceremony for its new $210 million state-of-the-art sawmill complex in Axis, Alabama, WALA reported.
Georgia-Pacific Plans Upgrades to Its Prosperity, SC, Plywood Complex
Georgia-Pacific announced that it will invest $14 million dollars to upgrade its Prosperity, South Carolina, plywood facility.
US Consumer Price Index Rises 3.0% Year-Over-Year in January
The index for shelter rose 0.4% in January, accounting for nearly 30% of the monthly all items increase. The energy index rose 1.1% over the month.
US Mortgage Applications Increase in the Week Ending February 7
Mortgage loan application volume increased 2.3% on a seasonally adjusted basis from one week earlier, MBA reported.
US Existing-Home Buyers Seeing Largest Discounts in Nearly Two Years
The typical home is selling for 1.8% less than its asking price, the biggest discount in nearly two years, Redfin reported.