Wood Markets News


U.S. National Interagency Fire Center Wildfire Update for June 6, 2022

On Monday, the U.S. National Interagency Fire Center reported that the 2022 wildfire season continues to gain momentum and is currently at a at a pace that is well in excess of both 2021 and its 10-year average. Currently, more than 4,100 wildland firefighters and support personnel are assigned to incidents across the country.

Median Mortgage Payments Jump 8.8% Month-Over-Month in April 2022

The latest data from the Mortgage Bankers Association’s Purchase Applications Payment Index (PAPI) reveals that the median monthly payment for a new mortgage in April rose 8.8% to $1,889, up from March when it was $1,736. The national PAPI increased 7.8% to a reading of 162.7 in April, up from March’s reading of 150.9.

Maine’s Plan For Wood-Fired Power Plants Draws Both Praise and Doubts

In April, Maine Gov. Janet Mills signed into law legislation that establishes a program to commission projects that will burn wood to create electricity and also capture the heat produced for use on-site—heat that would go to waste in a conventional power plant. Some climate activists are cynical, saying questions remain as to whether the program will cut carbon emissions as intended.

Total Value of Canadian Building Permits Declines Slightly in April 2022

Statistics Canada reported today that the total value of building permits in Canada declined in -0.6% in April to $11.7 billion (CAD). The decline in residential permits of -3.3% were offset by gains in the non-residential sector of 5.0%. Single-family home construction intentions declined -2.0%. Multi-family building permits pulled back -4.4%.

Mortgage Rates Little Changed in the Week Ending June 2, 2022

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending June 2, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.09% with an average 0.8 point, down from last week when it averaged 5.10%. A year ago, at this time, the 30-year FRM averaged 2.99%.