Wood Markets News

Softwood Lumber Board and U.S. Dept. of Agriculture Sign Memorandum of Understanding to Support Net-Zero Carbon Construction

Under the terms of the MOU, effective immediately, the SLB and USDA will expand a public-private partnership that seeks to grow demand for wood products as natural climate solutions. The organizations will jointly explore and coordinate additional market development, research, technological advances, and other activities to expand the use of wood in the built environment.

Leading Economic Index® for the U.S. Rose Sharply in August

The Conference Board, a non-partisan, not-for-profit think tank founded in 1916, released today (9-23-21) the Leading Economic Index® (LEI) for the U.S. in August. According to the report, the LEI for the U.S. increased by 0.9% in August to 117.1 (2016 = 100), following a 0.8% increase in July and a 0.6% increase in June.

Mortgage Rates Inch Higher in the Week Ending September 23, 2021

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending September 23, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.88% with an average 0.7 point, up slightly from last week when it averaged 2.86%. A year ago, at this time, the 30-year FRM averaged 2.90%.

Sawmill Insurance Coverage Getting More Difficult to Secure

Sawmill operators have always operated in a supply and demand market. Currently, however, they are dealing with another and somewhat unfamiliar supply and demand problem: the lack of insurance companies willing to write policies covering their property, as well as business interruption insurance.

Mortgage Applications Jump to Highest Level Since April 2021 During the Week Ending September 17, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending September 17, 2021, the Market Composite Index — a measure of mortgage loan application volume — increased 4.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week.