Wood Markets News

Logie Timber Expansion to Create New Jobs While Cutting Its Carbon Footprint

Logie Timber, located in the town of Forres, Moray County, Scotland, is a full-cycle timber business. The company carries out milling and finishing and makes products including cladding, decking posts, and beams. Logie has embarked on a £1.2million expansion that will lead to the creation of four new jobs as well as increasing its turnover and cutting its carbon footprint.

Australian Government to Provide $15.1 Million Freight Subsidy to Transport Logs off of Kangaroo Island

The Australian government is set to provide a $15.1 million (A$) freight subsidy to companies transporting logs off of Kangaroo Island. The subsidy will aid in the movement of salvaged logs from bushfire-affected plantations on Kangaroo Island to sawmills, on the South Australian mainland, that currently have immediate capacity to process logs into structural timbers.

New Home Mortgage Applications Decline 17% Year-Over-Year in August

The Mortgage Bankers Association (MBA) today (9-21-21) announced the results of their Builder Application Survey (BAS) data for August 2021. The BAS reveals that mortgage applications for new home purchases decreased -17% from August 2020. However, month-over-month (July 2021 to August 2021) applications increased by 9%.

As Expiration Dates Draw Near, Number of Borrowers Exiting Forbearance Increases During the Week Ending September 12, 2021

The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 8 basis points from 3.08% of servicers’ portfolio volume in the prior week to 3.00% as of September 12, 2021. According to MBA’s estimate, 1.5 million homeowners are in forbearance plans.