New Zealand’s Forestry Minister Penni Henare announced that the government is making a start on a more sustainable forestry industry with investments into a bioenergy plant, research into biomass, and better forestry practices.
Wood Markets News
Fixed Mortgage Rates Inch Lower in the Week Ending June 8th
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending June 8th. The 30-year fixed-rate mortgage averaged 6.71%, down from last week when it averaged 6.79%.
US Weekly Jobless Claims Increase in the Week Ending June 3rd
The advance figure for seasonally adjusted initial unemployment claims was 261,000 during the week ending on Saturday, June 3rd. This is an increase of 28,000 from the previous week’s revised level of 233,000.
West Fraser Looking to Expand Its McDavid, Florida, Sawmill Facility
The Pensacola News Journal reported that West Fraser Timber Company is in the process of planning a multi-million-dollar expansion at its McDavid, Florida, sawmill. The expansion is reportedly worth in excess of $62 million.
EGGER Wood Products’ New Lexington, NC, Recycling Center Allows Manufacturing of Wood-Based Materials Using Recycled Wood and Biomass
EGGER Wood Products’ new recycling center in Lexington, North Carolina, is now fully operational and moving towards fulfilling its commitment to producing sustainable materials for interior design and furniture applications.
Following Solid Gains in April, Fannie Mae’s Home Purchasing Sentiment Index® Declines in May
Fannie Mae’s Home Purchase Sentiment Index® (HPSI) decreased by 1.2 points in May to a reading of 65.6, as affordability constraints continue to influence consumers’ perceptions of homebuying and home-selling conditions.
Massachusetts Governor Extends Logging Contract Pause in State Forests for Another Six Months
Massachusetts Governor Maura Healey’s administration announced Wednesday that it intends to continue a pause on new logging contracts in state forests for another six months, according to reporting by Vermont Public.
Mortgage Applications Declined in the Week Ending June 2nd—The Fourth Consecutive Drop
According to data from the Mortgage Bankers Association’s Market Composite Index, mortgage loan application volume declined 1.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 12.0%.
Canadian Building Permits Decline 18.8% Month-Over-Month in April
The total monthly value of building permits in Canada declined 18.8% to $9.6 billion (CAD) in April. This is the lowest level since December 2020. On a constant dollar basis (2012=100), the total value of building permits dropped 18.5%.
Transportation Prices Decline at Fastest Rate Ever Recorded in May
FreightWaves reported on Tuesday that according to data complied in the Logistics Managers’ Index (LMI), supply chain activity slid to an all-time low for the third consecutive month in May.