The NAHB Remodeling Market Index edged up one point to 62 in Q3, with sentiment remaining stable despite economic uncertainty and labor shortages.
Wood Markets News
US Bureau of Land Management Reports $29.8 Million in Q3 Timber Sales Revenue
BLS generated $29.8 million in Q3 timber sales revenue, selling 121 million board feet of timber across 5,300 acres in four states.
US Wood Pellet Exports Decline in August
US wood pellet exports totaled 903,374.4 metric tons in August, down 17% from July, the USDA and Biomass Magazine reported.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for October
The Index of Consumer Sentiment fell to 46.3 in October, down 3.6% from September and 13.6% year-over-year.
Canadian Employment Falls by 68,000 in September; Unemployment at 6.5%
Canadian employment fell by 68,000 jobs (0.3%) in September, the second consecutive monthly decline, while the unemployment rate edged up to 6.5%.
US Mortgage Rates Rise for Seventh Consecutive Week
The 30-year fixed-rate mortgage averaged 7.40%, up from 7.28% the previous week, Freddie Mac reported.
CMPC to Invest US$90 Million to Modernize Two Operations in Chile
CMPC is investing US$72 million in its Los Ángeles plant and US$20.6 million in its Mulchén sawmill to expand output and modernize timber operations.
US Mortgage Credit Availability Index Falls Slightly in September
The MBA Mortgage Credit Availability Index fell 0.2% to 107.1 in September, MBA reported.
Skanska Nears Completion of Mass Timber Laboratory in Laurel Hollow, NY
Skanska is completing a $28-million mass timber laboratory at Cold Spring Harbor Laboratory, featuring glulam framing and CLT floor decks, Engineering News-Record reported.
US Weekly Initial Jobless Claims Decline in the Week Ending October 3
The advance figure for seasonally adjusted initial unemployment claims was 197,000, a decrease of 2,000 from the previous week.