Lumber production increased 16.2% in January to 3,871.6 thousand cubic meters. Year-over-year, production was down 3.1%.
Wood Markets News
Intelligent City Starts Production on 9-Story Mass Timber Building in Toronto
Intelligent City has officially started on the production of a 9-story mass timber residential building in Toronto.
Typical US Homebuyer’s Monthly Payment Hits New Record High for Second Consecutive Week
The typical US homebuyer’s monthly payment hit a record high, reaching $2,802 during the four-week period ending March 30, Redfin reported.
US Mortgage Rates Tick Lower in the Week Ending April 3
The 30-year fixed-rate mortgage averaged 6.64%, down from last week when it averaged 6.65%, Freddie Mac reported.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending March 29
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 6,000 from the previous week’s revised total.
US Job Cuts Soar in March
US-based employers announced 275,240 job cuts in March, a 60% increase from the 172,017 cuts announced in February, CG&C reported. Year-over-year, cuts were up 205%.
President Trump Announces 10% Baseline Tariff; Higher Rates on Certain Countries
Trump announced a 10% baseline tariff on imports from all countries and higher tariff rates on dozens of nations, AP reported.
US Residential Construction Spending Rebounds in February
Private residential construction spending increased 1.3% in February, rebounding from a 1.2% dip in January, the Census Bureau and NAHB reported.
NCCC and IAM Announce Tentative Agreement
The National Carriers Conference Committee (NCCC) has reached a national tentative agreement with the International Association of Machinists and Aerospace Workers (IAM).
US Mortgage Applications Fall in the Week Ending March 28—Third Consecutive Decrease
Mortgage loan application volume decreased 1.6% on a seasonally adjusted basis from one week earlier, MBA reported.