Citing a lack of economical fiber, Tolko said it is planning downtime at a pair of North Okanagan, BC, operations, the Haida Gwaii Observer reported.
Wood Markets News
US Mortgage Credit Availability Steady in April After March Spike
The MBA Mortgage Credit Availability Index held steady at 102.9 in April.
Stora Enso Plans New Sawmill in Imatra, Finland
The project has reportedly been planned for a long time, but Stora Enso has not commented on the matter publicly, Metsälehti reported.
Sweden’s Derome Inaugurates New Sawmill Line
The SEK 600 million (US$61.8 million) investment is part of an extensive modernization and expansion project that has been underway since 2022.
UPM Plywood and Industrial Union Announce Agreement for Mills in Finland
UPM Plywood and the Industrial Union have signed a new collective agreement. The strikes at the mills are ending and work will start immediately.
Canadian Employment and Unemployment Data for April
Employment was little changed, with 7,400 jobs added. The unemployment rate rose to 6.9%, up 0.2 percentage points from March.
Toronto Metropolitan University Breaks Ground on Mass Timber Student Center
Construction of Toronto Metropolitan University’s new mass timber Student Wellbeing Center is underway, Daily Commerical News reported.
Median US Monthly Housing Payment Hits Another Record High
During the four-week period ending May 4, the median US monthly housing payment hit an all-time high of $2,868, Redfin reported.
US 30-Year Mortgage Rate Unchanged in the Week Ending May 8
The 30-year fixed-rate mortgage averaged 6.76%, unchanged from last week, Freddie Mac reported.
US Multifamily Developer Sentiment Declines in Q1
Multifamily developers started Q1 in a cautious state of mind, NAHB reported.