The MBA Purchase Applications Payment Index increased 3.1% to a reading of 165.9 in January, up from December’s reading of 160.8.
Wood Markets News
US Pending Home Sales Decline for Second Consecutive Month in January
The NAR Pending Homes Sales Index declined 4.6% month-over-month and 5.2% year-over-year to a reading of 70.6 in January.
US Weekly Initial Jobless Claims Climb in the Week Ending February 22
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 22,000 from the previous week’s revised total.
Canadian Employment, Payrolls, and Hours Increase in December
Payroll employment rose 0.1% (25,300) in December after declining 0.1% (14,400) in November. Year-over-year, employment was up 0.9% (158,000) in December.
New US Residential Single-Family Home Sales Decline 10.5% in January
New residential single-family home sales for January fell to a seasonally adjusted annual rate of 657,000, a 10.5% decline.
US East and Gulf Coast Dockworkers Ratify Six-Year Agreement With US Maritime Alliance
Members of the International Longshoremen’s Association approved a six-year contract agreement with the US Maritime Alliance, the AP reported.
Mortgage Applications Decline in the Week Ending February 21
Mortgage loan application volume decreased 1.2% on a seasonally adjusted basis from one week earlier, MBA reported.
CPKC Mechanical Employees Union Ratifies New Four-Year Contract
CPKC said that Unifor—representing approximately 1,200 staff across Canada—has ratified a new four-year collective agreement.
StructureCraft Launches Separate DowelLam Brand
StructureCraft is launching DowelLam, a dedicated division for dowel-laminated timber (DLT).
US Multifamily “Missing Middle” Posts Year-Over-Year Gain in Q4
There were 5,000 2- to 4-unit housing unit construction starts in 2024Q4, up 25% from 2023Q3, NAHB reported.