Victoria, Australia’s second-most populous state, braced for potentially devastating wildfires during the holiday week, The Associated Press reported.
Wood Markets News
US Mortgage Loans in Forbearance Increase for Sixth Consecutive Month in November
As of November 30, the total number of loans in forbearance increased 0.50%, with an estimated 250,000 homeowners in a forbearance plan, MBA reported.
US Mortgage Rates Increase in the Week Ending December 26
The 30-year fixed-rate mortgage averaged 6.85%, up from last week when it averaged 6.72%, Freddie Mac reported.
US Weekly Initial Jobless Claims Drift Lower in the Week Ending December 21
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 1,000 from the previous week’s unrevised level.
New Existing-Home Listings Reach Highest Level Since June
New listings of homes increased 7.6% in the four-week period ending December 15th, Redfin reported.
US Personal Income and Outlays for November
Personal income increased 0.3% at a monthly rate in November; disposable personal income increased 0.3%; and personal consumption expenditures 0.4%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for December
The University of Michigan Index of Consumer Sentiment increased 3.1% to a reading of 74.0 in December, up from 71.8 in November.
Engineers Developing First Fully Modular Timber Skyscrapers
Timber engineers are working to develop the world’s first fully modular timber skyscrapers, utilizing CLT floors and glulam beams and columns to create giant “skeleton” building systems, according to a feature by Wood Central.
US Commercial and Multifamily Mortgage Debt Outstanding Increases 1.0% in Q3
In Q3, the level of commercial/multifamily mortgage debt outstanding increased 1.0%, or $47.7 billion, MBA reported.
Canadian Payroll Employment and Job Vacancies Decline in October
Payroll employment declined by 21,100 (0.1%) in October, following minimal changes in September and August. However, year-over-year, payroll employment increased by 125,800 (0.7%).