On Wednesday, the New Brunswick provincial government reported that it was investing $600,000 (CAD) in forest research in northern New Brunswick. The forestry sector—through Groupe Savoie, AV Group, J.D. Irving, and Forest NB—also committed to matching the province’s funding.
The Canadian Mortgage and Housing Corporation reported on Wednesday that October’s standalone monthly seasonally adjusted annual rate of total housing starts for all areas in Canada declined month-over-month by 11% to 267,055 units.
On Wednesday, the National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes dropped 5 points lower to a reading of 33 in November. This marks the eleventh consecutive monthly decline.
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending November 11th, the Market Composite Index (a measure of mortgage loan application volume) increased 2.7% on a seasonally adjusted basis from one week earlier.
Statistics Canada reported on Wednesday that the Canadian Consumer Price Index rose 6.9% year-over-year in October. The October increase matched the 6.9% increase recorded in September. The October increase was led by faster price growth for gasoline and mortgage interest costs.
The Canadian Real Estate Association reported on Tuesday that home sales recorded over the Canadian MLS® System edged 1.3% higher between September and October 2022. This marks the first monthly increase since February.
Members of the International Brotherhood of Boilermakers (IBB) have rejected the labor agreement that was worked out between the railroads and the leadership of 12 different rail workers unions. The IBB represents about 300 rail employees.
Stora Enso and Voodin Blade Technology, a German-based startup, announced on Tuesday that they have signed a partnership agreement to develop sustainable wind turbine blades made of wood using Stora Enso’s LVL, a mass timber product.
The BC Government announced that it is investing as much as $33 million (CAD) in 2022–23 to support projects that promote economic diversification, resilience, clean-growth opportunities, and infrastructure development.
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index report, which analyzes data from the ICE Mortgage Technology, Mortgage credit availability declined for the eighth consecutive month in October.