Mortgage loan application volume declined 2.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Wood Markets News
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%.
Mid-America Lumbermens Association Merges With Northwestern Lumber Association, Creating 1,800-Member Trade Association
The Mid-America Lumbermens Association (MLA) and Northwestern Lumber Association (NLA) have merged to create one of the largest building material trade associations in the industry, HBSDealer reported.
Slowdown in Single-Family Home Construction Impacting Large Metro Markets
Elevated construction costs and rising mortgage rates are taking a toll on the pace of single-family home construction in markets across the US, according to an NAHB index.
Northwest Territory Residents Allowed to Return, but Wildfire Flare-Ups and Challenges Remain
Canadians returning to Yellowknife, Dettah, and Ndilǫ this week can expect to see fires in the area flare up in the coming weeks, a NWT minister has said, according to CBC News.
Kronospan to Establish a Flooring and MDF Factory in Egypt
Kronospan will establish a factory in Egypt to produce flooring and MDF, Zawya reported, citing a press release from Egypt’s Industrial Development Authority.
Exports of Brazilian Wood-Based Products Declined Year-Over-Year in July
In July, Brazilian exports of wood-based products (except pulp and paper) declined 36.0% in value compared to July 2022, according to the International Tropical Timber Organization.
Canadian Real GDP Declines 0.2% Month-Over-Month in June
Real GDP declined 0.2% in June, following a 0.2% increase in May. Both service-producing industries and goods-producing industries contracted.
US Construction Spending Increases 0.7% Month-Over-Month in June
Total construction spending during July was estimated at a seasonally adjusted annual rate of $1,972.6 billion, 0.7% above the revised June estimate of $1,958.9 billion.