Pending home sales jumped 2.5% month-over-month in September on a seasonally adjusted basis, the largest increase since January 2023, Redfin reported.
Wood Markets News
US Residential Acquisition, Development, and Construction Loans Decline in Q2
A NAHB analysis of FDIC data shows the volume of total outstanding AD&C loans during Q2 posted the largest year-over-year percentage decline since 2012.
US Builder Confidence Trends Higher in October
The NAHB/Wells Fargo Housing Market Index rose 2 points in October, the second consecutive increase.
Fannie Mae Economic and Strategic Research Group Releases Revised Economic Outlook
According to the ESR Group, the economy now appears to be on firmer footing than previously thought.
Investment in Canadian Building Construction Increases in August
Investment in building construction edged 0.2% higher in August, following a 1.6% decrease in July. Year-over-year, investment grew 7.2%.
US Mortgage Rates Climb for Third Consecutive Week
The 30-year fixed-rate mortgage averaged 6.44%, up from last week when it averaged 6.32%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Decrease 6.0% in September
Mortgage applications for new-home purchases decreased 6.0% in September but remained 10.8% higher year-over-year, MBA reported.
EU Launches Anti-Dumping Investigation Into Chinese Plywood Imports
The European Union is launching an anti-dumping investigation into Chinese plywood imports, Timberbiz reported.
US Weekly Initial Jobless Claims Decline in the Week Ending October 12th
The advance figure for seasonally adjusted initial unemployment claims was 241,000, a decrease of 19,000 from the previous week’s revised level.
Interfor to Exit Its Québec Operations
Interfor plans to exit its operations in Québec, Canada, including the sale of its three manufacturing facilities and the closure of its Montréal corporate office.