COFI issued a statement in response to the new forest advisory council stemming from the cooperation agreement between the BC NDP and the BC Greens.
Wood Markets News
US Commercial/Multifamily Borrowing Rises 42% Year-Over-Year in Q1
Commercial and multifamily mortgage loan originations were up 42% year-over-year in Q1, MBA reported.
Canadian Housing Starts Soar in April
Housing starts across all areas in Canada rose 30% in April to 278,606 units (SAAR), up from 214,205 in March, CREA reported.
US Builder Confidence for Newly Built Single-Family Homes Drops in May
The NAHB/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes declined six points to a reading of 34 in May.
US Producer Price Index for Final Demand Rises 2.4% Year-Over-Year in April
The Producer Price Index (PPI) for final demand, seasonally adjusted, decreased 0.5% in April. Unadjusted, the index for final demand rose 2.4% year-over-year.
US Mortgage Rates Edge Higher in the Week Ending May 15
The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.76%, Freddie Mac reported.
Canadian Existing-Home Sales Steady in April, Ending Three-Month Slide
This marks a pause in the trend of declining activity since the beginning of the year, CREA reported. The National Composite MLS Home Price Index declined 1.2%.
US Weekly Initial Jobless Claims Unchanged in the Week Ending May 10
The advance figure for seasonally adjusted initial unemployment claims was 229,000, unchanged from the previous week’s revised total.
Montana Lawmakers Create Low-Interest Loan Program for Reopening Shuttered Sawmills
State lawmakers recently passed a bill establishing a low-interest loan program for companies seeking to reopen shuttered mills, NBC Montana reported.
Value of Canadian Building Permits Declines 4.1% in March
The value of building permits issued in Canada decreased by 4.1% to CA$12.9 billion in March. Residential construction intentions rose 2.0% to $8.7 billion.