The 30-year fixed-rate mortgage averaged 6.86%, up from last week when it averaged 6.81%, Freddie Mac reported.
Wood Markets News
US Housing Affordability Challenges Persist Despite Lower Home Prices and Income Gains
Americans continue to face significant housing affordability challenges, despite solid income growth and modest declines in home prices, NAHB reported.
US Weekly Initial Jobless Claims Unchanged in the Week Ending May 17
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 2,000 from the previous week’s unrevised total.
Weyerhaeuser to Sell Its Princeton, BC, Lumber Mill to Gorman Group
Weyerhaeuser Company has reached an agreement to sell its lumber mill in Princeton, British Columbia, to the Gorman Group, owners of Gorman Bros. Lumber Ltd.
Fannie Mae Updates Its Economic and Housing Outlook for May
According to the ESR Group, total single-family home sales are expected to close 2025 at 4.92 million units.
US Single-Family Built-for-Rent Starts Flat in Q1
There were approximately 19,000 single-family built-for-rent starts in Q1, little changed from 2024Q1, the Census Bureau and NAHB reported.
Canadian New Housing Price Index Slips in April
The Statistics Canada New Housing Price Index declined 0.4% in April, after holding steady in March, Dow Jones reported.
US Mortgage Applications Decline in the Week Ending May 16
Mortgage loan application volume decreased 5.1% on a seasonally adjusted basis from one week earlier, MBA reported.
US Townhouse Construction Posts Modest Gain in Q1
Over the past four quarters, townhouse construction starts totaled 175,000, up 2% from the previous four-quarter period, the Census Bureau and NAHB reported.
Mercer Mass Timber Completes First Phase of the Roosevelt Presidential Library
Mercer Mass Timber has completed of phase one of construction on the Roosevelt Presidential Library in North Dakota.