In August, Brazilian exports of wood-based products (except pulp and paper) fell 26.0% in value year-over-year, according to the International Tropical Timber Organization.
Wood Markets News
With Mortgage Rates at a Two-Decade High, More Home Sellers Are Lowering Their Asking Price
Redfin reported that during the four-week period ending on September 24th, roughly 6.5% of US homes for sale had a price drop—up from 5.8% a month earlier.
US Pending Home Sales Drop Across All Regions
The National Association of Realtors® Pending Home Sales Index (PHSI) fell 7.1% month-over-month in August to a reading of 71.8.
South Perth, Australia, Approves Construction of World’s Tallest Hybrid Timber Tower
PerthNow reported that after redesign efforts and negotiations, the City of South Perth, Australia, has approved plans to build the world’s tallest hybrid timber tower.
Canadian Real GDP Flat in July
Real GDP was basically unchanged in July, following a 0.2% decline in June. Service-producing industries inched 0.1% higher, while goods-producing industries declined 0.3%.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in August
Personal income (PI) increased 0.4% in August; disposable personal income (DPI) increased 0.2%; and personal consumption expenditures (PCE) increased 0.4%.
US National Interagency Fire Center Wildfire Update for the Week Ending September 29th
As of Friday, September 29th, 32 large wildfires have burned more than 365,438 acres in 9 states. Two new large wildfires were reported on Thursday.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for September
The University of Michigan Index of Consumer Sentiment declined to a reading of 68.1 in September, down from 69.5 in August—a month-over-month decline of 2.0%.
Cool, Damp Weather Helps Ease Wildfire Conditions in British Columbia
The British Columbia Wildfire Service says the fire danger rating across the province has dropped to low or very low, according to The Canadian Press.
Fixed-Rate Mortgages Climbed Higher in the Week Ending September 28th
The 30-year fixed-rate mortgage averaged 7.31%, up from last week when it averaged 7.19%, according to Freddie Mac.