Wood Markets News

Mortgage Payments Continued to Rise in October

The Mortgage Bankers Association (MBA) reported on Tuesday that according to its Purchase Applications Payment Index (PAPI), homebuyer affordability continued its downward trend in October, as the national median payment applied for by applicants increased 3.7% to $2,012 from $1941 in September.

Shares of Mortgage Loans in Forbearance Edge Slightly Higher in October

According to the new monthly Mortgage Bankers Association (MBA) Loan Monitoring Survey, the total number of loans now in forbearance increased by 1 basis point, from 0.69% of servicers’ portfolio volume in the prior month to 0.70% as of October 31st. The MBA estimates that 350,000 homeowners are now in forbearance plans.

US Forest Service Receives $10 Billion in New Funding

While addressing the 7th annual workshop of the Montana Forest Collaboration (MFC) about forest conservation, recreation, and resource utilization, US National Forest Service Chief Randy Moore announced that $10 billion will soon help fund work in forests around the US.