Wood Markets News


Mortgage Applications Increase in the Week Ending July 29, 2022

According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending July 29, the Market Composite Index (a measure of mortgage loan application volume) increased 1.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.0%.

Multifamily Lending Hits All-Time High in 2021

The Mortgage Bankers Association reported today, in its annual report on the multifamily lending market, that in 2021 there were 2,215 different multifamily lenders that provided a total of $487.3 billion in new mortgages for apartment buildings of 5 or more units.

Job Openings and Labor Turnover Summary Released for June 2022

On Tuesday, the US Bureau of Labor Statistics reported the Job Openings and Labor Turnover Summary for June 2022. According to the report, as of the last day in June, the number of job openings decreased to 10.7 million, down 605,000, or 6.6%. The largest decrease in job openings was in retail trade, down 343,000.

USNR Acquires Timber Automation Company

USNR, a division of Wood Technologies International, announced on Thursday that it had acquired Timber Automation Company, located in Hot Springs, Arkansas. According to USNR’s press release, the combination will add more than 250 employees and 200,000 square feet of manufacturing space.