According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending February 24th, the Market Composite Index (a measure of mortgage loan application volume) decreased 5.7% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Brazilian Exports of Wood-Based Products Declined Month-Over-Month and Year-Over-Year in January
According to the International Tropical Timber Organization, in January Brazilian exports of wood-based products (except pulp and paper) declined 32.0% in value compared to January 2022, falling from US$393.9 million in January 2022 to US$267.3 million in January 2023.
Egger Investing $42 Million in Its Lexington, North Carolina, Facility
According to reporting by Woodworking Network, Egger has announced that it had recently started production on a third lamination line at its Lexington, North Carolina, facility. Egger will also install a decorative paper impregnation line.
Domtar Announces Agreement to Sell Its Dryden Pulp Mill to Quality First
Domtar Corporation, a wholly owned subsidiary of the Paper Excellence Group, and First Quality Enterprises, Inc. announced today that they have entered into an agreement to sell Domtar’s Dryden pulp mill to First Quality.
Federal Housing Finance Agency’s House Price Index Increased at an Annual Rate of 8.4% in 2022Q4
The Federal Housing Finance Agency reported today its House Price Index for December, as well as all of 2022Q4. Seasonally adjusted home prices in December were down 0.1% from November.
India’s Greenpanel Industries Orders Its Third DIEFFENBACHER MDF Plant
Greenpanel Industries, India’s largest MDF manufacturer, recently announced it has ordered its third MDF plant from DIEFFENBACHER. The new thin-board line will be added in Routhusuramala, Andhra Pradesh.
S&P CoreLogic Case-Shiller US Home Price Index Declined Again in December
On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for December. Home prices experienced a 5.8% annual gain in December, down from a 7.6% annual gain in November.
The Conference Board’s Consumer Confidence Index Declines for Second Consecutive Month in February
The Conference Board released today its Consumer Confidence Index® for February. The CCI declined to 102.9 (1985=100), down from a revised reading of 106.0 in January.
Canadian Real GDP Declines in December
Statistics Canada reported today that Canadian real GDP declined 0.1% in December, following a 0.1% increase in November. Goods-producing industries fell 0.6%, while service-producing industries remained unchanged.
Pending Homes Sales Increase for Second Consecutive Month in January
On Monday, the National Association of Realtors® reported its Pending Homes Sales Index improved 8.1% month-over-month in January to a reading of 82.5. The PHSI has now increased for two consecutive months. Year-over-year, contract signings have declined 24.1%.