The Federal Housing Finance Agency announced on Wednesday that both Fannie Mae and Freddie Mac (“the Enterprises”) will enhance their payment deferral policies to allow borrowers facing financial hardship to defer up to six months of mortgage payments.
Wood Markets News
US Weekly Jobless Claims Increase for the Week Ending March 25th
The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 198,000 during the week ending on March 25th. This is an increase of 7,000 from the previous week’s unrevised level of 191,000.
Real GDP in 2022Q4 Increased at an Annual Rate of 2.6%, BEA Reports in Its “Third” Estimate
The Bureau of Economic Analysis released Thursday its “Third” estimate for 2022Q4 real GDP. According to the report, real GDP increased at an annual rate of 2.6% in Q4. This follows a reported real GDP increase of 3.2% in Q3. In the “second” estimate, the increase was 2.7%.
Pending Homes Sales Increase for Third Consecutive Month in February
On Wednesday, the National Association of Realtors® reported its Pending Homes Sales Index improved 0.8% month-over-month in February to a reading of 83.2. However, contract signing declined 21.1% year-over-year. The Index has now increased for three consecutive months.
Washington State DNR Announces Plans for Prescribed Burns on More Than 2,100 Acres This Spring
The Washington Department of Natural Resources (DNR) plans to burn more than 2,100 acres this spring in an aim to prevent more severe wildfires this summer, according to The Seattle Times. In 2021, state lawmakers earmarked $500 million for wildfire prevention and forest health.
Western Washington University to Begin Construction on Region’s First Carbon Net-Neutral Collegiate Facility
Western Washington University will break ground in May on the region’s first carbon net-neutral collegiate facility, according to a report by 425Business magazine. When completed, Kaiser Borsari Hall will be four stories tall and 54,000 square feet.
Mortgage Applications Increase for Fourth Consecutive Week
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending March 24th, the Market Composite Index—a measure of mortgage loan application volume—increased 2.9% on a seasonally adjusted basis from one week earlier.
State-Level Review of Construction Sector Employment in February
A closer look at the Bureau of Labor Statistics nonfarm payroll report for February reveals that across the 48 states which reported construction sector data, 24 states reported an increase in February compared to January, while 19 states lost construction sector employment.
FHFA House Price Index Increased Month-Over-Month and Year-Over-Year in January
The Federal Housing Finance Agency (FHFA) reported today (3-28-23) its House Price Index (HPI®) for January. According to the HPI, US house prices rose 0.2%, seasonally adjusted, between December and January. Year-over-year, house prices rose 5.3%.
US Forest Service and National Alliance of Forest Owners Sign Memorandum of Understanding
On Monday, the US Forest Service and the National Alliance of Forest Owners announced the signing of a MOU creating a partnership to enhance cooperation between private working forest owners and public land managers during wildfires.