The US Department of Labor is reporting that seasonally adjusted an additional 225,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, December 24, 2022. This is an increase of 9,000 from the previous week’s unrevised level of 216,000.
Wood Markets News
Pending Homes Sales Continued to Decline in November
The National Association of Realtors® (NAR) reported on Wednesday (12-28-22), that their Pending Homes Sales Index (PHSI) which is based […]
Swinerton Building the First U.S. Middle-Income Housing Community Made Entirely from CLT
The intersection of Union & 14th Street in Seattle is the home of a 134-unit middle-income affordable housing community built […]
US Real GDP Increased at an Annual Rate of 3.2% in Q3, BEA Reports in Its “Third” Estimate
The Bureau of Economic Analysis released today its “third” estimate for 2022Q3 real gross domestic product (GDP). According to the report, US GDP increased at an annual rate of 3.2% in Q3, following declines of 0.6% in Q2 and 1.6% in Q1.
Finland’s Carbon Sinks Shrinking Due to Increased Tree Harvesting
A report released on Wednesday by the Natural Resources Institute of Finland (LUKE) has confirmed that the land use sector in Finland has changed from a carbon sink into a source of emissions. The report concluded that the primary reasons are intensifying felling and slowing growth.
30-Year Fixed Mortgage Rate Declines for Sixth Consecutive Week
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending December 22, 2022. The 30-year fixed-rate mortgage averaged 6.27%, down from last week when it averaged 6.31%. A year ago at this time, the 30-year rate averaged 3.05%.
US Leading Economic Index® Declines Again in November, The Conference Board Reports
The Conference Board Leading Economic Index® (LEI) for the US in November declined 1.0% in November to a reading of 113.5 (2016=100), following a 0.9% decline in October and a 0.5% drop in September. The LEI has dropped 3.7% over the six-month period from May to November.
US Weekly Jobless Claims Increase for the Week Ending December 17th
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 216,000 during the week ending on Saturday, December 17, 2022. This is an increase of 2,000 from the previous week’s revised level of 214,000 (originally reported as 211,000).
Mortgage Payments Decline 1.8% in November
The Mortgage Bankers Association reported on Thursday that according to its Purchase Applications Payment Index, which measures how new monthly mortgage payments vary across time (relative to income), homebuyer affordability improved in November. The national median payment applied for by applicants dropped 1.8%.
Chantier Chibougamau Announces the Purchase of GreenFirst Forest Products’ Quebec Operations
Chantier Chibougamau announced today that it has entered into an agreement with GreenFirst Forest Products to acquire all of the company’s Quebec operations, namely the La Sarre and Béarn sawmills and related forestry operations. GreenFirst has owned these mills since August 2021.