Mortgage loan application volume increased 1.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Wood Markets News
Denmark to Plant 1 Billion Trees and Convert 10% of Farmland Into Forest
Danish lawmakers agreed on a deal to plant 1 billion trees and convert 10% of Denmark’s farmland into forest and natural habitats over the next two decades, AP reported.
Share of Mortgage Loans in Forbearance Increases for Fifth Consecutive Month in October
The total number of loans in forbearance as of October 31st increased to 0.47% of servicers’ portfolio volume, up from 0.34% in September, MBA reported.
Weyerhaeuser to Invest $500 Million to Build New TimberStrand Facility in Arkansas
Weyerhaeuser plans to invest approximately $500 million to build a new, state-of-the-art TimberStrand® facility near Monticello and Warren, Arkansas.
US Housing Starts, Building Permits, and Completions Decline in October
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,311,000. This is 3.1% below the revised September estimate of 1,353,000.
Spruce Budworm Outbreak in Northern Maine Sparks Alarm
After nearly two decades of sporadic incursions from Quebec, a more severe spruce budworm outbreak has been detected in Maine’s Aroostook County, the Portland Press Herald reported.
EU Gives Final Approval to Carbon Removals Certification Framework
The Council of the EU gave final approval to a regulation establishing the first EU-level certification framework for permanent carbon removals, carbon farming, and carbon storage in products.
US Mortgage Applications for New-Home Purchases Increase 3.0% in October
Mortgage applications for new-home purchases in October increased 3.0% month-over-month and 8.2% year-over-year, MBA reported.
Canadian Consumer Price Index Increases 2.0% Year-Over-Year in October
The Canadian Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September.
State-Level US Construction Employment Data for October
Construction employment increased in 33 states and the District of Columbia in October, the BLS and NAHB reported.