Wood Markets News


Canadian Investment in Building Construction Slightly Lower in May

Statistics Canada reported today that investment in building construction edged 0.2% lower in May to $20.6 billion. The downward movement is the result of many of Ontario’s unionized construction workers being on strike during the month. Excluding Ontario, investment increased 1.1% at the national level.

Remodeler Sentiment Drops Year-Over-Year in Q2 of 2022

The National Association of Home Builders/Westlake Royal Remodeling Market Index (RMI) was released today. The RMI posted a reading of 77 in Q2 of 2022, declining 10 points from Q2 of 2021. This is the largest year-over-year decrease since the survey was redesigned in Q1 of 2020.

Mortgage Rates Push Higher in the Week Ending July 14, 2022

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending July 14, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.51% with an average 0.8 point, up from last week when it averaged 5.30%. A year ago, at this time, the 30-year FRM averaged 2.88%.