The 30-year fixed-rate mortgage averaged 6.85%, down from last week when it averaged 6.87%, Freddie Mac reported.
Wood Markets News
Canadian Industrial Product and Raw Materials Price Indices Rise in January
The IPPI rose 1.6% month-over-month, and the RMPI rose 3.7%.
The Conference Board US Leading Economic Index Trends Lower in January
The Conference Board Leading Economic Index declined 0.3% to a reading of 101.5 (2016=100) in January, after a 0.1% increase in December.
Fannie Mae ESR Group Releases February Commentary
According to the ESR Group, incoming GDP, labor market, and inflation data point to an economy that entered 2025 with strong momentum.
US Median Income Household Needed 38% of Income for Mortgage Payments in Q4
A family earning the nation’s median household income of $97,800 needed 38% of its income to cover the mortgage payment on a median-priced new home, NAHB/Wells Fargo reported.
US Weekly Initial Jobless Claims Increase in the Week Ending February 15
The advance figure for seasonally adjusted initial unemployment claims was 219,000, an increase of 5,000 from the previous week’s revised total.
US Housing Starts Fall 9.8% in January; Permits Hold Steady and Completions Rise
Housing starts in January were at a seasonally adjusted annual rate of 1,366,000. This is 9.8% below the revised December estimate of 1,515,000.
Explosion and Fire Reported at Weyerhaeuser’s MDF Plant in Columbia Falls, MT
An explosion and fire were reported at Weyerhaeuser’s Columbia Falls, Montana, MDF plant on Wednesday, Daily Inter Lake reported.
Södra and Vida Pause Sawmill Production in Sweden as Timber Shortage Drives Up Prices
Södra and Vida will temporarily halt production for a short period this winter due to a timber shortage driving up prices, Skogsaktuellt reported.
US Home Prices Rise 0.6% Month-Over-Month in January
US home prices rose 0.6% month-over-month in January on a seasonally adjusted basis, a tick faster than the 0.5% growth in each of the three months prior, Redfin reported.