The U.S. Bureau of Labor Statistics (BLS) reported on Wednesday (10-13-21) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in September, on a seasonally adjusted basis, after rising 0.3% in August. Over the past 12-months, the all-item index has increased 5.4% before seasonal adjustment.
Wood Markets News
Construction Job Openings Hold Steady in August
Further analysis of the Bureau of Labor Statistics’ (BLS) August Job Openings and Labor Turnover Survey (JOLTS), provided by the National Association of Home Builders (NAHB) with a look specifically on the construction sector, reveals that overall, the number of open construction jobs held steady in August.
Mortgage Applications Increase in the Week Ending October 8, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending October 8, 2021, the Market Composite Index — a measure of mortgage loan application volume — increased 0.2% on a seasonally adjusted basis from one week earlier.
West Fraser Enters into Agreement to Purchase Angelina Forest Products Lumber Mill in Lufkin, Texas
West Fraser Timber Co. Ltd. announced today (10-12-21) that it has entered into an agreement to acquire Angelina Forest Products lumber mill located in Lufkin, Texas for approximately $300 million (USD), subject to certain post-closing adjustments. West Fraser is anticipating the transaction will close following successful completion of U.S. regulatory reviews and satisfaction of customary conditions.
EACOM Timber Corp. Turns to International Recruitment to Fill Labor Gap in Northern Ontario and Northern Quebec
A shortage of available workers to fill open positions at EACOM Timber Corp.’s northern Ontario and Quebec sawmills has the company turning to an international recruitment company for assistance. EACOM has been working with the IVEY Group, a Sudbury, Ontario-based international recruitment and consulting firm, for several years to aid them in recruiting and retaining workers in their northern communities.
Binderholz Group Reaches Agreement to Take Over BSW Timber Ltd.
The Binderholz Group has reached an agreement to take over BSW Timber Ltd., the U.K.’s largest forestry and sawmill company. An agreement with Endless LLP., the largest shareholder, to acquire their shares has been reached.
Volume of Roundwood Harvested in Ireland Increased in 2019 but Value Declined
According to information released on Monday (10-11-21) from the Central Statistics Office (CSO) — the statistical agency responsible for the gathering of “information relating to economic, social and general activities and conditions” in Ireland — loggers harvested almost four million cubic meters of wood from deciduous trees in Irish forests in 2019.
NFIB’s Small Business Optimism Index Moves Slightly Higher in August
The National Federation of Independent Business (NFIB), one of the largest small business associations in the U.S., reported today (10-12-21) that their NFIB Small Business Optimism Index edged 0.4 points higher month-over-month in August to a reading of 100.1.
Mortgage Credit Availability Increases for Third Consecutive Month in September
The Mortgage Banker Association (MBA) today (10-12-21) released their Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for September. According to the MBA, the MCAI rose 1.5% to 125.6 in September.
Share of Loans in Forbearance Dropped at Fastest Rate Since October 2020 During the Week Ending October 3, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 27 basis points from 2.89% of servicers’ portfolio volume in the prior week to 2.62% as of October 3, 2021. According to MBA’s estimate, 1.3 million homeowners are in forbearance plans.