Wood Markets News


Mortgage Payment on a Typical Home Increased 25% Year-Over-Year

According to the latest report (2-10-22) from Redfin, the Seattle-based, technology-powered real estate brokerage, the estimated monthly mortgage payment for a typical home for sale rose 25% year-over-year, or $388, to a record high of $1,931. The figures are based on the all-time high median asking price of $376,000, recorded during the four weeks ending February 6th, and an average 30-year mortgage rate of 3.69%.

Canadian Pacific Railway Employees, Represented by Teamsters Canada Rail Conference, Take Strike Vote

If logistics problems aren’t already causing enough headaches and supply chain disruptions, word came this morning (2-10-22) that the Teamsters Canada Rail Conference, representing members working for the Canadian Pacific Railway, is in the process of conducting a strike vote among its more than 3,000 Locomotive Engineers, Conductors, Trainpersons and Yardperson’s.

Consumer Price Index Increases 0.6% in January 2022, Rising 7.5% Year-Over-Year

The U.S. Bureau of Labor Statistics (BLS) reported on Thursday (2-10-22) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% in January on a seasonally adjusted annual basis. Over the past 12-months, the all-item index has increased 7.5% before seasonal adjustment—the largest 12-month increase since the period ending February 1982.

Mortgage Rates Accelerate in Week Ending February 10, 2022

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending February 10, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.69% with an average 0.8 point, up from last week when it averaged 3.55%. A year ago, at this time, the 30-year FRM averaged 2.73%.

Mortgage Delinquency Rate Declines in Q4 and Year-Over-Year in 2021

The Mortgage Bankers Associations (MBA) released today (2-10-22) the results of their National Delinquency Survey (NDS) for Q4 2021. According to the NDS, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.65% of all loans outstanding at the end of December.

Georgia-Pacific Announces $20 Million Investment in Alcolu, South Carolina OSB Mill

Georgia-Pacific has announced that it will be investing $20 million in its Alcolu, South Carolina OSB mill. The project’s focus will be to add on a third strander onto the facility. A strander is on the green-end of the facility, or where the logs enter the process. Once the logs are debarked, they go into the strander, which processes the wooden flakes used in the OSB process.