The ESR Group has slightly upgraded its existing-home sales outlook, based on a lower mortgage rate outlook.
Wood Markets News
US Monthly Housing Payments Hit All-Time High in March
The typical US homebuyer’s monthly housing payment hit an all-time high of $2,807, up 5.3% from a year earlier, Redfin reported.
US Personal Income and Outlays for February
Personal income increased 0.8%; disposable personal income increased 0.9%; and personal consumption expenditures increased 0.4%.
Canadian GDP by Industry for January
Real GDP grew 0.4% in January, following a 0.3% increase in December. The construction sector rose 0.7%.
University of Michigan Releases Final Results of Its Consumer Sentiment Index for March
The University of Michigan Index of Consumer Sentiment declined to a reading of 57.0 in March, a month-over-month decline of 11.9% and down 28.2% year-over-year.
US National Interagency Fire Center Wildfire Update as of March 28
26 large uncontained fires are currently being managed under full suppression strategies, with 22 located in the southern geographic area.
Doman Building Materials Temporarily Curtails Rison, AR, Mill Over Supply Chain Woes
Positions at Doman Building Materials Group’s operations in Rison, Arkansas, are being temporarily curtailed due to supply chain disruptions, the Cleveland County Herald reported.
New Forests Partners With Oji Holdings to Establish $300 Million Forestry Fund
New Forests has partnered with Oji Holdings to establish the Future Forest Innovations Fund, a forest investment fund to help it achieve its 2030 environmental goals.
US Pending Home Sales Increase 2.0% in February
The NAR Pending Home Sales Index increased 2.0% to a reading of 72.0 in February. Year-over-year, pending sales were down 3.6%.
US Mortgage Rates Drift Lower in the Week Ending March 27
The 30-year fixed-rate mortgage averaged 6.65%, down from last week when it averaged 6.67%, Freddie Mac reported.