Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,361,000, a 1.6% increase from the revised March estimate of 1,339,000.
Wood Markets News
Georgia-Pacific to Close Its Cedar Springs, GA, Containerboard Mill
GP notified employees at its Cedar Springs containerboard mill in Georgia that it plans to permanently close the facility later this year. Most positions will be eliminated by August 1.
New US Home Purchase Mortgage Applications Increase 2.0% in April
Mortgage applications for new home purchases increased 2.0% in April, MBA reported. Year-over-year, applications increased 5.3%.
New Council Formed to Support Forestry in British Columbia
The BC government and BC Green caucus have established the Provincial Forest Advisory Council, under the Cooperation and Responsible Government Accord 2025.
BC Council of Forest Industries Statement on New Provincial Forest Advisory Council
COFI issued a statement in response to the new forest advisory council stemming from the cooperation agreement between the BC NDP and the BC Greens.
US Commercial/Multifamily Borrowing Rises 42% Year-Over-Year in Q1
Commercial and multifamily mortgage loan originations were up 42% year-over-year in Q1, MBA reported.
Canadian Housing Starts Soar in April
Housing starts across all areas in Canada rose 30% in April to 278,606 units (SAAR), up from 214,205 in March, CREA reported.
US Builder Confidence for Newly Built Single-Family Homes Drops in May
The NAHB/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes declined six points to a reading of 34 in May.
US Producer Price Index for Final Demand Rises 2.4% Year-Over-Year in April
The Producer Price Index (PPI) for final demand, seasonally adjusted, decreased 0.5% in April. Unadjusted, the index for final demand rose 2.4% year-over-year.
US Mortgage Rates Edge Higher in the Week Ending May 15
The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.76%, Freddie Mac reported.