Housing starts in March were at a seasonally adjusted annual rate of 1,324,000, 11.4% below the revised February estimate of 1,494,000.
Wood Markets News
US Homes Selling at Slowest Pace in Six Years
The typical US home that went under contract in March spent 47 days on the market, the longest for any March since 2019, Redfin reported.
US Mortgage Rates Climb in the Week Ending April 17
The 30-year fixed-rate mortgage averaged 6.83%, up from last week when it week when it averaged 6.62%, Freddie Mac reported.
Stora Enso Receives Approval for Junnikkala Acquisition
Finland has approved Stora Enso’s acquisition of Junnikkala, a Finnish producer of sawn timber and processed wood products.
US Weekly Initial Jobless Claims Decline in the Week Ending April 12
The advance figure for seasonally adjusted initial unemployment claims was 215,000, a decrease of 9,000 from the previous week’s revised total.
Canadian Unemployment Increases in February
The number of Canadians receiving regular Employment Insurance benefits rose 2.5% in February, an increase of 12,000 people.
US Builder Confidence Continues to Reflect Economic Uncertainty and Elevated Material Costs
The NAHB/Wells Fargo Housing Market Index revealed that builder sentiment in the market for newly built single-family homes rose to 40 in April, up one point from March.
Bank of Canada Holds Interest Rates Steady Amid Trade Uncertainty
The Bank of Canada left its benchmark interest rate unchanged as it awaits a clearer picture of how global trade uncertainty will impact Canada, the Canadian Press reported.
Swedish Forestry Industry Facing Challenging Times
Swedish forestry companies have had a tougher start to 2025 than expected, according to High North News, citing a report from the Swedish Forest Industries Federation.
Microsoft Signs Deal to Remove 3.7 Million Tons of Carbon From US Pulp and Paper Mill
Microsoft announced that it and carbon dioxide removal project developer CO280 has signed one of the largest engineered CDR purchase deals to date, ESG Today reported.