The Case-Shiller National Home Price index shows continued gains in US home prices.
Wood Markets News
Greenpanel Industries MDF plant located in Rudrapur, Uttarakhand, India, Resumes Full Production
Greenpanel Industries announced the restart of their Rudrapur MDF mill after repairs to refiner.
PotlatchDeltic Corporation Announces Merger with Loutre Land and Timber Company
PotlatchDeltic Corporation announced today (12-23-21) a merger with Loutre Land and Timber Company. To meet the terms of the transaction, PotlatchDeltic has issued 1.96 million shares of common stock and assumed debt of $6.6 million, in exchange for Loutre’s 51,340 acres of high-quality, well-stocked timberlands in southern Arkansas and northern Louisiana.
New Residential Home Sales up Month-Over-Month but Down Year-Over-Year in November 2021
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Thursday (12-23-21) that new residential single-family home sales for November 2021 were at a SAAR of 744,000, according to estimates. This is 12.4% above the revised October rate of 662,000 but is -14.0% below the November 2020 estimate of 865,000.
Canadian GDP Increased 0.8% in October, Marking Fifth Consecutive Monthly Increase
Statistics Canada (StatsCan) reported today (12-23-21) that real gross domestic product (GDP) rose 0.8% in October, following a 0.2% growth in September. The growth marks the fifth consecutive monthly gain in the GDP. Seventeen of the 20 industrial sectors posted gains in October. Construction rose 1.6% in October, following four declines in the previous five months, as all forms of construction activity were up in the month.
30-Year and 15-Year Mortgage Rates Move Lower in Week Ending December 23, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending December 23, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.05% with an average 0.7 point, down from last week when it averaged 3.12%. A year ago, at this time, the 30-year FRM averaged 2.66%.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in November 2021
The U.S. Bureau of Economic Analysis reported on Thursday (11-23-21) that according to their estimates, personal income (PI) increased $90.4 billion, or 0.4% in November. Disposable personal income (DPI) increased $70.4 billion, or 0.4% in November. Personal consumption expenditures (PCE) increased $104.7 billion, or 0.6% in November.
University of Michigan Final Consumer Sentiment Index Increases in December
The University of Michigan today (12-23-21), released its final Consumer Sentiment Index (CSI) for December. The Index of Consumer Sentiment increased to a reading of 70.6 in December, up from 67.4 in November. This is month-over-month increase of 4.7%.
Weekly Jobless Claims Decline in the Week Ending December 18, 2021
The U.S. Department of Labor is reporting that an additional 205,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, December 18, 2021. This is unchanged from last week’s revised level. The 4-week moving average was 206,250.
Real GDP for 2021 Q3 Revised Up to 2.3% in “Third” Estimate
The Bureau of Economic Analysis (BEA) released today (12-22-21) its “third” estimate of real gross domestic product (GDP) for 2021 Q3. In the “third” estimate for the third quarter, real GDP increased 2.3% — 0.2% higher than in the “second” estimate. The estimate released today is based on more complete source data than were available for the “second” estimate, which was issued last month.