The 30-year fixed-rate mortgage averaged 7.12%, down from last week when it averaged 7.18%, according to Freddie Mac.
Wood Markets News
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%.
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.