The Mortgage Bankers Association (MBA) announced Tuesday the results of its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Organizations. Commercial and multifamily mortgage loan originations in 2023Q1 were 56% lower year-over-year and 42% below 2022Q4.
Wood Markets News
Out-of-Control Wildfires in Alberta Prompt State of Emergency
Alberta’s Premier told a news conference on Saturday that the province has declared a state of emergency “to protect safety, health, and welfare of Albertan’s,” according to ABC News. One-third of the 110 blazes were listed as out of control.
US Wood Pellet Exports Up Month-Over-Month and Year-Over-Year in March
The US exported 909,787.1 metric tons of wood pellets in March, up from 632,043.8 metric tons in February. Total wood pellet exports for the first three months of 2023 reached 2.18 million metric tons at a value of $402.08 million.
Kronospan Opens New State-Of-The-Art Particleboard Plant in Tortosa, Spain
Kronospan, in just a little over a year’s time, and an investment of approximately 400 million euros, has built a new state-of-the-art particleboard plant in Tortosa, Spain, capable of producing 2,000 m3 per day.
India’s Greenply Industries Ships Its First Load of MDF From New Plant
Greenply Industries, one of India’s largest interior infrastructure brands, has shipped the first load of its new Greenply MDF from its recently commissioned plant in Gujarat, India, according to a report by Republic TV.
3XN Celebrates the Topping Out of Cobot Hub, a New Timber Office Park in Denmark
3XN, an architecture and design company, is celebrating the topping out of Cobot Hub, a timber office park in Odense, Denmark, according to a report by “Archinect.” The facility will serve as the joint home of two robotics companies.
UK’s L&G-Owned Homebuilder Cala Group Purchases Taylor Lane
Cala Group announced it has purchased timber frame builder Taylor Lane in a move designed to boost its timber frame production in England to 1,500 units annually over the next five years, according to a report by “Building.”
BC’s Chief Forester Announces New Allowable Annual Cut for the Mackenzie Timber Supply Area
In accordance with the Forest Act, BC’s chief forester has set a new allowable annual cut (AAC) level for the Mackenzie Timber Supply Area (TSA). The new AAC for the Mackenzie TSA has been set at 2.39 million cubic meters.
To Meet New Zealand’s Carbon Goals, Forestry Minister Urges Harvested Logs be Processed Domestically
New Zealand’s Forestry Minister Peeni Henare has announced a $57 million (NZD) fund to promote investment in domestic wood-processing facilities, according to a report by “Newsroom.”
Construction Sector Data From April’s Nonfarm Payroll Report
A closer look at the Bureau of Labor Statistics April Nonfarm Payroll report reveals that overall construction sector employment increased by 15,000 in April. This follows a reported 11,000 jobs lost in March.