According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending August 5, the Market Composite Index increased 0.2% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Consumer Price Index Unchanged Month-Over-Month and Up 8.5% Year-Over-Year in July 2022
The US Bureau of Labor Statistics reported on Wednesday that the Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in July, on a seasonally adjusted basis. This follows a 1.3% rise in June.
New-Single Family Home Starts in 2021 at Fastest Pace Since 2013
According to data released in the Survey of Construction, new single-family starts expanded at a precipitous pace in 2021. Nationwide, 1,133,145 new single-family units were started in 2021. That is 14% higher than those started in 2020. It is the fastest growth pace since 2013 and the highest count since the Great Recession.
Proposed Douglas-fir National Monument Once Again Up for Discussion
The proposed Douglas-fir National Monument is once again up for discussion, after lying dormant during the Trump administration. The monument would sit mostly on the Willamette National Forest in the Cascade foothills.
Mortgage Credit Availability Declines for Fifth Consecutive Month in July, Reaching Its Lowest Level Since May 2013
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) report mortgage credit availability declined for the fifth consecutive month in July. The MCAI dropped 9.0% to a reading of 108.8.
Sterling Structural’s TerraLam® Receives PRG 320-2019 Certification
Sterling Structural announced today that its CLT line, which is sold under the TerraLam® trade name, has been certified to the PRG 320-2019 (PRG 320) performance standard by the International Code Council – Evaluation Service (ICC-ES).
The NFIB’s Small Business Optimism Index Rose Modestly in July
The National Federation of Independent Business reported today their NFIB Small Business Optimism Index (SBOI). The July SBOI increased 0.4 points to a reading of 89.9; however, it is the sixth consecutive month that the SBOI has been below the 48-year average reading of 98.
Australia’s Consumer Confidence Declines for Tenth Consecutive Month in August
Australia’s Westbank Corp., in a survey of 1,200 respondents released on Tuesday, reveals that Australia’s consumer sentiment continues to fall as surging inflation and interest rates increase, coupled with declining home values all weigh on the outlook for householders.
Fannie Mae Home Purchase Sentiment Index® at Lowest Level in a Decade
Fannie Mae today released its Home Purchase Sentiment Index® for July. The HPSI dropped 2.0 points to a reading of 62.8, its lowest level since 2011 and well below the all-time high that was set in 2019. Only 17% of respondents in the survey thought it was a good time to buy a home.
Michigan to Sell First Forest Carbon Market Credits From State-Owned Forestland
The State of Michigan has approximately 4 million acres of state-owned forestland. That is more than any other state in the US. These forestlands and their trees are now at the center of a new industry: forest carbon markets.