The Fannie Mae Home Purchase Sentiment Index increased 0.7 points in October to a reading of 74.6, pushing the measure to its highest level since February 2022.
Wood Markets News
University of Michigan Reports the Preliminary Results of Its Consumer Sentiment Index for November
The Index of Consumer Sentiment increased to a reading of 73.0 in November, up 3.5% from October and up 19.1% year-over-year, the University of Michigan reported.
Commercial and Multifamily Mortgage Loan Originations Soar in Q3
Commercial and multifamily mortgage loan originations in Q3 increased 59% year-over-year and 44% when compared to Q2, MBA reported.
California College of the Arts Completes Hybrid Mass Timber Facility
The Studio Gang has just completed the latest expansion for the California College of the Arts campus in San Francisco, according to designbloom.
Canadian Labor Force Survey for October
Canadian employment was little changed in October, gaining 15,000 new positions, up 0.1%, following an increase of 47,000 in September, up 0.2%.
Rayonier Announces Timberland Dispositions Totaling $495 Million
Rayonier announced completed and pending timberland dispositions totaling approximately 200,000 acres for an aggregate purchase price of $495 million.
Federal Reserve Cuts Interest Rates by 0.25%
The Fed cut rates by 0.25%, taking note of a job market that has “generally eased” while inflation continues to move towards the bank’s 2% target.
BC Port Work Stoppage Sees No Talks Scheduled Between Employers and Union
BC port employers say they may be “required to reassess” their position as a lockout shuts down most shipping on the West Coast, The Canadian Press reported.
US Pending Homes Sales Hold Steady, Despite Election Jitters and Mortgage Rates Above 7%
US pending home sales rose 4.3% year-over-year during the four weeks ending November 3rd, Redfin reported.
US Mortgage Rates Trend Higher for the Sixth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.79%, up from last week when it averaged 6.72%, Freddie Mac reported.