The advance figure for seasonally adjusted initial unemployment claims was 216,000. a decrease of 13,000 from the previous week’s revised level.
Wood Markets News
US, Canada, Mexico Rail Traffic Data for the Week Ending September 2nd
US rail traffic was 476,851 carloads and intermodal units, the Association of American Railroads reported. Year-over-year, the volume is 5.4% lower.
Home Prices Continue to Accelerate Even as Demand Weakens
The typical monthly mortgage payment is $2,612, just $18 below the all-time high set in May, Redfin reported.
30-Year Fixed-Rate Mortgage Remains Above 7% For the Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 7.12%, down from last week when it averaged 7.18%, according to Freddie Mac.
West Fraser to Acquire Spray Lake Sawmills Located in Cochrane, Alberta
West Fraser Timber Co. has entered into an agreement to acquire Spray Lake Sawmills located in Alberta.
Domtar to Indefinitely Idle Its Espanola, Ontario, Pulp and Paper Mill
Domtar Corporation, a part of the Paper Excellence Group, will be indefinitely (for a period greater than one year) idling its pulp and paper operations located in Espanola, Ontario.
Metsä Wood Announces Plans to Construct a New Kerto® LVL Mill in Äänekoski, Finland
Metsä Wood and construction company SRV have signed an agreement for the construction of Metsä Wood’s new Kerto® LVL mill in Äänekoski, Finland.
Mortgage Applications Slump in the Week Ending September 1st
Mortgage loan application volume declined 2.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Uzbekistan Now One of the Top 5 Users of Belarusian Sawn Timber on the Belarusian Commodity Exchange
The Belarusian Commodity Exchange announced that in the 8-month period between January and August, Uzbekistan entered the top five markets for sawn timber on the exchange, according to BelTA.
Canadian Sawmill Production and Shipment Data for June
Lumber production decreased 6.6% month-over-month to 3,744.2 thousand cubic meters in June. Year-over-year, sawmill production was down 16.8%.