According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.45% of all outstanding loads at the end of 22Q3.
Wood Markets News
Bureau of Land Management Agrees to Reverse Trump-Era Post-Wildfire Logging Rule Changes
A year ago, environmental groups sued the Bureau of Land Management over rule changes made during the Trump administration that allowed the agency to log large areas of forests after a wildfire without first doing an environmental review.
Potential for US Class 1 Freight Railroad Strike Pushed to Early December
FreightWaves is reporting that the Brotherhood of Maintenance Way–Employee Division will not go on strike after November 19th, opting instead to hold off any potential work stoppage action until early December.
Mission Forest Products Holds Ribbon Cutting Ceremony
Mission Forest Products held a ribbon cutting ceremony on Wednesday to celebrate the opening of their new sawmill, located outside the city limits of Corinth, Alcorn County, Mississippi.
Home Prices Increase Only 3.2% Year-Over-Year in the Week Ending November 6th
According to the latest report from Redfin, for the four-week period ending on November 6th, home-sale prices increased 3.2% year-over-year. This is the smallest increase since July 2020.
Housing Affordability Continued to Decline in Q3
According to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index, just 42% of new and existing homes sold in Q3 were affordable to families earning the US median income of $90,000.
University of Michigan Preliminary Consumer Sentiment Index for November Declines
The University of Michigan released the preliminary results of its Consumer Sentiment Index (CSI) for November. The Index of Consumer Sentiment dropped to a reading of 54.7, down from 59.9 in October. This is a month-over-month decline of 8.7%.
Black Hills Timber Industry Wins Appeal to US Forest Service for GTR Review
The Black Hills local timber industry received some welcome news last week when a formal review of the findings from a critical general technical report (GTR) found flaws in the methodology used to determine its conclusion.
Chicago Entrepreneur Hopes to Breathe Life Back into a Former Bingham, Maine, Sawmill
A Chicago-based entrepreneur with years of experience in the forest products industry in North America has an ambitious plan to turn a former sawmill in Bingham, Maine, into a plywood factory that could employ 100 people when at full production capacity.
Estonia’s Chances of Amending EU’s Land Use and Forestry Regulation are Limited
Estonia’s chances of amending the EU’s LULUCF Regulation on climate targets does not look favorable. Nevertheless, Estonia’s Minister of the Environment, is still attempting to secure greater flexibility and disaster-related compensation mechanisms.