According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) report, which analyzes data from the ICE Mortgage Technology, mortgage credit availability decreased in December. The index has declined in nine out of the past ten months.
Wood Markets News
Anthony Timberlands to Pause Production at Its Malvern Sawmill Facility for a Month
Steven Anthony, President of Anthony Timberlands, announced that effective Saturday, its sawmill operation located in Malvern, Arkansas, will pause for one month. Lumber inventory levels will be drawn down at the facility’s planner mill, at which point it too will pause operations.
Vaagen Fiber Canada Announces Indefinite Shutdown of Its Midway, BC, Sawmill Facility
Vaagen Fiber Canada, a family-owned sawmill located in Midway, BC, announced on Saturday that it was indefinitely shutting down its facility due to a lack of logs. The closure will impact 85 workers, as well as approximately 100 vendors, suppliers, and contractors.
Canadian Building Permits Increase 14.1% in Total Value in November
Statistics Canada reported today that the total value of building permits in Canada jumped 14.1% in November to $11.0 billion (CAD), ending two consecutive months of declines. On a constant dollar basis (2012=100), the total value of building permits rose 12.3%.
New Zealand Farmers Push Back Against Afforestation Plans
A group of New Zealand farmers is trying to raise $45 million (NZD) (£25m) to purchase a large North Island farm, or station, from being purchased by overseas investors to prevent it from potentially being turned into a carbon forest. The 5000ha Mangaohane Station is a livestock farm.
World’s First 3D-Printed House Completed in Maine
The world’s first 3D-printed house—made entirely with bio-based materials such as wood flour, or fine sawdust, mixed with a binder made from corn—has come to life thanks to the University of Maine’s Advanced Structures and Composites Center (ASCC), which spearheaded building BioHome3D in Orono, Maine.
US Freight Railroad and Intermodal Usage Slips in 2022
According to data released by the Association of American Railroads on Thursday, the US operations of freight railroads handled 25.4 million carloads and intermodal units in 2022. This is down 2.8% from 2021.
Belarus to Increase Rail Shipments to China
The Belarusian Telegraph Agency (BelTA), Belarus’ largest news agency, reported on Thursday that the country is increasing freight shipments to China via rail.
Home Seller Concessions Are Back
Redfin, the Seattle-based, technology powered real estate brokerage firm, reported on Thursday that in Q4, some sellers gave concessions to buyers in 41.9% of sales. This is the highest share of any three-month period in Redfin’s records.
US Nonfarm Payroll Increases by 223,000 in December; Unemployment Dips to 3.5%
The US Bureau of Labor Statistics reported today that total nonfarm payroll employment increased by 223,000 in December. Payroll employment increased by 4.5 million in 2022—an average monthly gain of 375,000. The unemployment rate dipped to 3.5%.