The Canadian federal government is threatening to act on its own to protect the at-risk woodland caribou and the animals’ habitat in Quebec. Federal Environment Minister Steven Guilbeault gave Quebec until Wednesday, April 20 to provide him with information on how the province intends to protect the woodland caribou and its habitat.
Wood Markets News
Mortgage Rates Top 5.0% in Week Ending April 14, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending April 14, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.00% with an average 0.8 point. The 15-year fixed-rate mortgage averaged 4.17% with an average 0.9 point, up from last week when it averaged 3.91%.
University of Michigan Preliminary Consumer Sentiment Index for April 2022 Posts Surprising Gain
The University of Michigan today (4-14-22) released its preliminary Consumer Sentiment Index CSI) for April. The Index of Consumer Sentiment increased to a reading of 65.7, up from the March reading of 59.4. This represents a month-over-month increase of 10.6% but is down -25.6% year-over-year (88.3 in April 2021).
Weekly Jobless Claims Climb Higher in the Week Ending April 9, 2022
The U.S. Department of Labor is reporting that an additional 185,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday April 9, 2022. This is an increase of 18,000 from the previous week’s revised level.
Interfor Corp. Sells Acorn Specialty Sawmill in B.C. to Affiliate of San Industries Ltd.
Interfor Corporation announced that it has reached an agreement to sell its Acorn specialty sawmill, located in Vancouver, British Columbia, to an affiliate of San Industries Ltd. The mill has a two-shift rated capacity of approximately 140 million board feet per year but has been operating on a one-shift basis for many years.
Allowable Annual Cut Level Increased for Tree Farm License 53, Located in the Central Interior Near Quesnel
Albert Nussbaum, British Columbia’s acting deputy chief forester, has set a new allowable annual cut (AAC) level for Tree Farm License 53. The new AAC is 240,000 cubic meters. This is an increase of approximately 9.6% from the previous AAC of 219,000 cubic meters, which was set in 2010. It goes into effect immediately.
Canadian Investment in Building Construction Rises in February, Setting New Record High
Statistics Canada reported today (4-13-22) that the investment in building construction in February rose 4.0% to $20.0 billion (CAD), a new record high. Most provinces reported gains, with Quebec accounting for nearly 50% of the increase. On a constant dollar basis, investment in building construction increased 3.9% to $12.7 billion.
Prices of Goods Used in Residential Construction Increase 1.4% in March—Now Up 20.4% Year-Over-Year
According to the latest Bureau of Labor Statistics (BS) Producer Price Index (PPI) report released today (4-13-22), with additional analysis provided by the National Association of Home Builders (NAHB), the prices of goods used in residential construction ex-energy (not seasonally adjusted) climbed 1.4% in March.
John A. Biewer Company Ships First Truckload From its New Sawmill in Winona, Mississippi
John A. Biewer Company announced that earlier this month it had shipped the first truckload from the company’s newest sawmill located in Winona, Mississippi. The facility is Biewer’s second facility in the South. When fully operational, it will have an annual production capacity of an estimated 250+ MMBF.
Mortgage Applications Drop for Fifth Consecutive Week in the Week Ending April 8, 2022
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending April 8, 2022, the Market Composite Index (a measure of mortgage loan application volume) declined -1.3 % on a seasonally adjusted basis from one week earlier.