Prices for lumber and other wood products jumped 5.7%, marking the largest monthly increase since March 2022 (7.5%).
Wood Markets News
FHFA House Price Index Increases 4.5% Year-Over-Year in October
US house prices rose 0.4% in October, according to the FHFA’s seasonally adjusted House Price Index. Year-over-year, prices increased 4.5%.
US Mortgage Applications Drop During The Two-Week Period Ending December 27
Mortgage loan application volume declined 21.9% on a seasonally adjusted basis from two weeks earlier, MBA reported.
US Mortgage Rates Increase in the Week Ending January 2
The 30-year fixed-rate mortgage averaged 6.91%, up from last week when it averaged 6.85%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending December 28
The advance figure for seasonally adjusted initial unemployment claims was 211,000, a decrease of 9,000 from the previous week’s revised level.
US Housing Supply Hits Four-Year High in November
Redfin reported that active listings—the total number of homes for sale—reached their highest level since 2020 in November.
Resolute Closes Its Maniwaki, QC, Sawmill for Six Months
On December 20, Resolute began a temporary closure of its Maniwaki, Quebec sawmill, CBC News reported. Union officials say the closure is expected to last at least six months.
Rayonier Announces Pore Space Agreement With Reliant Carbon Capture & Storage in Alabama
Rayonier entered into an underground pore space easement agreement with an affiliate of Reliant Carbon Capture & Storage covering 104,000 acres in Alabama.
US New Residential Single-Family Home Sales Climb 5.9% in November
New residential single-family home sales for November were at a seasonally adjusted annual rate of 664,000, 5.9% above the revised October rate.
Unifor Members Ratify New Agreement With CN, Averting Strike
Unifor announced on December 22 that its 3,000 members at CN have ratified a four-year collective agreement, averting potential strike action.