Total commercial real estate mortgage borrowing and lending reached $498 billion in 2024, a 16% increase from 2023, MBA reported.
Wood Markets News
BC Announces 64 New Projects to Reduce Wildfire Risk and Support Forestry
The projects are aimed at reducing wildfire risk, enhancing forest health, and getting more fiber into the hands of mills and energy producers.
UPM Plywood to Start Change Negotiations in Finland
UPM Plywood plans to improve the efficiency and profitability of its operations and will start change negotiations in Finland.
US Existing-Home Sales Decline 5.9% in March
Existing-home sales declined 5.9% to a seasonally adjusted annual rate of 4.02 million in March, NAR reported.
Softwood Lumber Board Releases 2024 Annual Report
In 2024, the SLB continued to target investments across its key program areas of codes, communications, conversions, and education.
Canadian Rail Cargo Volumes in February at Lowest Level Since 2019
The volume of cargo reached 26.7 million tons in February, down 12.9% year-over-year—the steepest annual decline in three years.
US Mortgage Rates Trend Lower in the Week Ending April 24
The 30-year fixed-rate mortgage averaged 6.81%, down from last week when it averaged 6.83%, Freddie Mac reported.
US Mortgage Application Payments Decrease in March
The national median payment applied for by purchase applicants fell from $2,205 in February to $2,173 in March, MBA reported.
US Weekly Initial Jobless Claims Climb in the Week Ending April 19
The advance figure for seasonally adjusted initial unemployment claims was 222,000, an increase of 6,000 from the previous week’s revised total.
US New Residential Single-Family Home Sales Rise 7.4% in March
New residential single-family home sales for March were at a SAAR of 724,000, 7.4% above the revised February rate.