The ABC Construction Backlog Indicator fell to 8.2 months in August. Year-over-year, the CBI is down 1.0 months.
Wood Markets News
Mortgage Applications Rise in the Week Ending September 6th—Third Consecutive Increase
Mortgage loan application volume increased 1.4% on a seasonally adjusted basis from one week earlier, MBA reported.
Commercial Mortgage Delinquencies Increase in Q2
MBA reported that commercial mortgage delinquencies increased in Q2, according to the latest data from its Commercial Delinquency Report.
Canfor Completes Forest License Transfer to McLeod Lake Indian Band and Tsay Keh Dene Nation
Canfor announced the completion of the subdivision and sale of its Forest License in the Mackenzie TSA equally to the McLeod Lake Indian Band and the Tsay Keh Dene Nation.
Canada Announces Formal Challenges to Latest Increases in US Softwood Lumber Duties
The Canadian government said it will pursue challenges to recent increases to softwood lumber duties by the United States, The Canadian Press reported.
Mortgage Credit Availability in August Reaches Highest Level Since July 2022
The MBA Mortgage Credit Availability Index increased 0.9% to a reading of 99.0 in August.
Russia’s Segezha Group Aims to Expand Exports to India
Top management of the Segezha Group considers India as one of the most attractive and promising areas for business, the company said in a September 6th press release.
US Asking Rents Increase 0.9% Annually in August
The median US asking rent rose 0.9% year-over-year in August to $1,645—the biggest annual increase since April 2023—Redfin reported.
NFIB Small Business Optimism Index Declines in August, Erasing July’s Gains
The NFIB Small Business Optimism Index decreased by 2.5 points to a reading of 91.2 in August, erasing July’s gains.
Georgia-Pacific Modifies Lumber Operations in Camden, TX, and Prosperity, SC
Over the next couple of months, these sites will discontinue lumber production from logs while maintaining plywood core sawing operations, The Lufkin Daily News reported.