The 30-year fixed-rate mortgage averaged 7.23%, up from last week when it averaged 7.09%, according to a survey by Freddie Mac.
Wood Markets News
DIEFFENBACHER to Supply New Zealand’s Fletcher Building With Complete CEBRO OSB Plant
Germany’s DIEFFENBACHER received an order from New Zealand’s Fletcher Building to deliver a complete CEBRO plant for the production of Fine OSB.
Mortgage Payments Held Steady in July
The Mortgage Bankers Association reported that the national median payment applied for by purchase applicants remained at $2,162.
Mühlböck to Install Its Largest Ever Belt Dryer at Moelven Group’s New Pellet Plant in Sweden
Moelven Group recently announced that it has commissioned Mühlböck to deliver a 320 m3 belt dryer for Moelven’s largest site in Sweden.
US Weekly Jobless Claims Decline in the Week Ending August 19th
The advance figure for seasonally adjusted initial claims was 230,000 during the week ending August 19th, a decrease of 10,000 from the previous week.
US New Residential Single-Family Home Sales Increase in July
New residential single-family home sales for July were at a seasonally adjusted annual rate (SAAR) of 714,000, 4.4% above the revised June rate of 684,000.
Mortgage Applications Decline in the Week Ending August 18th, Marking the Fifth Consecutive Drop
According to the Mortgage Bankers Association, mortgage loan application volume decreased 4.2% on a seasonally adjusted basis from one week earlier.
First-Time Homebuyers Currently Make Up 50% of All Buyers
Zillow reported that according to its 2023 Consumer Housing Trends Report, first-time buyers now make up 50% of all home buyers, up from 45% in 2022 and 37% in 2021.
Victoria, Australia, Announces Expansion of Forestry Worker Support Program
The Victoria, Australia, government announced additional support for timber workers and their communities ahead of a looming industry shutdown, Sky News reported.
Skanska Begins Construction on Cincinnati’s First Mass Timber Building
Skanska and Cincinnati Public Radio announced that they have broken ground on a new mass timber headquarters for CPR.