According to the new monthly Mortgage Bankers Association (MBA) Loan Monitoring Survey, the total number of loans in forbearance was unchanged from October’s reading of 0.70%, as of November 30, 2022. The MBA estimates that 350,000 homeowners are now in forbearance plans.
Wood Markets News
Martco to Invest $9.5 Million in Technology Upgrades at Its Natchitoches Parish, LA, Facility
Martco LLC, a subsidiary of Martin Sustainable Resources LLC, the parent company of RoyOMartin, announced on Friday that it will invest $9.5 million to install technologically advanced production equipment at its Natchitoches Parish, Louisiana, lumber mill.
South Carolina and Federal Natural Resource Agencies Ink Shared Stewardship Agreement
Directors of nine South Carolina and federal agencies held a shared stewardship agreement signing ceremony last week at Harbison State Forest. The pact establishes a framework to improve collaboration and effectively respond to the increasing ecological challenges and natural resource concerns.
US Builder Sentiment Declines for the Twelfth Consecutive Month in December
On Monday, the National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes dropped 2 points lower in December to a reading of 31. This marks the twelfth consecutive monthly decline.
Canadian Industrial Product Price Index and Raw Materials Price Index Both Decline Month-Over-Month in November
Statistics Canada on Monday reported that prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPP), fell 0.4% month-over-month in November but remained 9.7% higher than in November 2021. Energy and petroleum products, which were down 2.7%, led the decrease.
New Cross-Laminated Timber Hotel Opens on Danish Island of Bornholm
The Green Solutions House 2.0, a hotel on the Danish Island of Bornholm, has timber providing almost all of the building fabric. The modular building consists of a structural frame of cross-laminated timber (CLT), and exterior of timber boards and a layer of wood fiber insulation.
US Nonfarm Payroll Data for Construction Sector by State for November
A closer look at the Bureau of Labor Statistics Nonfarm Payroll report for November (released on 12-2-22), with focus on the construction sector, reveals that of the 48 states that do report construction sector job data—which includes both residential and non-residential construction—36 states reported an increase in November.
Aspen Planers Announces Temporary Shutdown at Two Facilities in Nicola Valley, BC
According to the Merritt Herald, Aspen Planers, which is locally owned by Surrey-based AP Group, has temporarily shut down their Merritt operations, closing two work sites in the Nicola Valley due to a lack of steady log supply.
Tornadoes Damage $13 Million in Timber in Northeast Texas
According to the Texas A&M Forest Service, a series of tornadoes tracked across Northeast Texas on November 4th damaged timber across more than 10,000 acres. The storms destroyed an estimated $13 million worth of timber. Most of the damage to timber was on private property.
Early-Stage Homebuying Demand Up in November, After Hitting Record Low in October
Redfin reported on Thursday the findings of their Homebuyers Demand Index—a measure of home-tour requests and other services from Redfin agents—is up 10% and mortgage-purchase applications are up 14% from the end of October, when both hit their 2022 lows.