BC announced that it is providing more than $4 million (CAD) for 12 new mass timber demonstration and research projects, building on BC’s global leadership in this area.
Wood Markets News
UK’s Vistry Announces Reopening of Timber Frame Factory
Vistry, a top UK housebuilder and leader in partnership housing, announced it has reopened what is described as a “mega facility” in the East Midlands region, according to a report by Inside Housing.
Mortgage Applications Resume Upward Trek in the Week Ending July 7th
According to the Mortgage Bankers Association, mortgage loan application volume increased 0.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 19.0%.
Consumer Price Index Increases 0.2% in June; All-Item Index Up 3.0% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.2% in June on a seasonally adjusted basis. Over the past 12 months, the all-item index increased 3.0% before seasonal adjustment.
For the First Time Since the End of May, No Quebec Wildfires Considered Out-of-Control
The Canadian Press reported that for the first time since the end of May, Quebec’s provincial forest fire prevention agency (SOPFEU) says there are no out-of-control wildfires burning in the province.
Mortgage Credit Availability Increased in June
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) report, mortgage credit availability increased by 0.1% in June.
US Wood Pellet Exports Increase in May
The US exported 820,057.5 metric tons of wood pellets in May, up from 720,209.2 metric tons of wood pellets in April. Compared to a year ago—740,605.0 metric tons—shipments were also higher.
Consumer Credit Growth Slowed to a 30-Month Low in May, The Fed Reports
Consumer credit outstanding growth slowed to a 30-month low of 1.8% in May (SAAR). Revolving credit grew at 8.2%, but nonrevolving credit contracted 0.4%. Total consumer credit outstanding stands at $4.82 trillion (NSA).
NFIB’s Small Business Optimism Index Increases in June, But Remains Below 49-Year Average
The National Federation of Independent Business’ Small Business Optimism Index increased 1.6 points to a reading of 91.0 in June. This is the eighteenth consecutive month that the SBOI has been below the 49-year average reading of 98.
Total Value of Canadian Building Permits Increased 10.5% in May
The total monthly value of building permits in Canada increased 10.5% in May to $10.5 billion (CAD). The total monthly value of residential permits rose 8.5% to $6.8 billion.