Mortgage loan application volume decreased 1.3% on a seasonally adjusted basis from one week earlier, MBA reported.
Wood Markets News
ADP® Reports Private Sector Employment and Compensation Both Increased in August
Private sector employment increased by 143,000 jobs in September, ADP reported.
BC Institute of Technology and EllisDon Collaborating on New Mass Timber Microcredential Program
EllisDon is collaborating with the British Columbia Institute of Technology (BCIT) to funnel its mass timber knowledge into a new microcredential program, the Journal of Commerce reported.
US Dockworker Strike Cripples Port Activity Along the East and Gulf Coasts
Tens of thousands of dockworkers went on strike on Tuesday at ports along the East and Gulf coasts, Progressive Railroading reported.
US Residential Construction Spending Declines 0.3% in August
Private residential construction spending declined 0.3% in August, the Census Bureau and NAHB reported.
US Construction Spending Declines 0.1% in August
Total construction spending in August was estimated at a seasonally adjusted annual rate of $2,131.9 billion, 0.1% below the revised July rate.
US Construction Sector Employment Improves in August
The number of open construction sector jobs rebounded from a revised, soft reading of 232,000 in July to 370,000 in August, BLS and NAHB reported.
US Job Openings and Labor Turnover Summary for August
As of the last business day in August, the number of job openings was 8.0 million. Year-over-year, the measure was down 1.3 million.
Brazilian Exports of Wood-Based Products Drop in August Due to Shipping Issues
The value Brazilian exports of wood-based products (except pulp and paper) decreased 10.8% in August. On a monthly basis, exports declined 21% due to shipping difficulties.
US Starter-Home Affordability Improves Year-Over-Year for the First Time Since August 2020
Redfin reported that US homebuyers need to earn $76,995 per year to afford the median priced starter home (with a value of $250,000).