The 30-year fixed-rate mortgage averaged 7.18%, down from last week when it averaged 7.23%, Freddie Mac reported.
Wood Markets News
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in July
Personal income (PI) increased 0.2% in July. Disposable personal income (DPI) increased less than 0.1%. Personal consumption expenditures (PCE) increased 0.8%.
Private Sector Job Cuts Increase in August
US-based employers announced 75,151 job cuts in August, a 217% increase from July, according to Challenger, Gray & Christmas, Inc.
US Weekly Jobless Claims Decrease for the Week Ending August 26th
The advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending August 26th, a decrease of 4,000 from the previous week.
Paper Excellence Extends Crofton Pulp and Paper Mill Curtailment Through September
Employees at the Paper Excellence Crofton pulp and paper mill in BC will not be returning to work at the end of August as planned, the Chemainus Valley Courier reported.
US Pending Homes Sales Increase in 2 Out of 4 Regions in July
The National Association of Realtors® Pending Homes Sales Index increased 0.9% month-over-month in July to a reading of 77.6. Year-over-year, contract signing declined 14.0%.
Koskisen Invests in a New Thin Plywood Press at Its Hirvensalmi, Finland, Mill
Koskisen announced that it is investing in a new thin plywood press at its thin plywood production unit in Hirvensalmi, Finland, increasing pressing capacity by approximately a quarter.
Mortgage Applications Climb Higher in the Week Ending August 25th
Mortgage loan application volume increased 2.3% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Real GDP Increases at an Annual Rate of 2.1% in Q2, BEA Reports in Its “Second” Estimate
Real GDP increased at an annual rate of 2.1% in Q2, according to the Bureau of Economic Analysis’ “second” estimate. This follows a real GDP increase of 2.0% in Q1.
ADP® Reports Increased Private Sector Employment and Compensation Gains in August
Nonfarm private sector employment increased by 177,000 jobs in August and annual pay was up 5.9% year-over-year, according to the ADP® National Employment Report™.