According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (except pulp and paper) in January 2021 amounted to US$253.6 million, an increase of 22.8% when compared to January 2020, when they were valued at US$206.6 million.
Wood Markets News
Canadian Confidence Index Rises to Highest Level Since January 2018 in Week Ending March 5, 2021
According to the Bloomberg Nanos Canadian Confidence Index (CCI), which is a gauge of household sentiment, Canadian consumer confidence rose to its highest level since January 2018, amid optimism that an accelerated vaccine rollout will soon bring an end to the Covid-19 health crisis.
Shares of Mortgages in Forbearance Decreased in Week Ending February 28, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 3 basis points from 5.23% of servicers’ portfolio volume in the prior week to 5.20% as of February 28, 2021.
Westervelt Company Celebrates the Completion of Their New Thomasville Alabama Sawmill Facility
Westervelt Company celebrated the completion of their new Thomasville Alabama sawmill facility and shipped the mill’s first load of lumber on Friday March 5th.
X-Frame – New Innovative, Reusable Framing System for Residential and Commercial Projects
While attending architecture school, Gerard (Ged) Finch founded a reconfigurable structural timber framing system, X-Frame in 2017. According to Finch, X-Frame is a way to reduce construction waste and help transition the building industry towards a more circular economy.
Higher Mortgage Rates Decrease Buyers Spending Power
Redfin, the Seattle-based, technology-powered real estate brokerage firm is reporting that a homebuyer would lose $23,250 in spending power with a mortgage rate of 3.25% versus a 2.75% rate, where they were sitting earlier this year.
New Support Program to Help with Modernization of German Timber Industry
The new support program for the modernization of the German timber industry, which is being administered by the German Ministry of Food and Agriculture (BMEL), went into effect on Thursday, March 4, 2021. According to the BMEL, one of new programs aims to promote investments in the value-preserving or value-enhancing use of damaged wood and in the promotion of the use of wood as a building material.
Total Investment in Building Construction in Canada Hits New All-Time Record of $16.0 Billion
Statistics Canada (StatsCan) is reporting today (3-8-21), that total investment in building construction reached $16.0 billion for the first time on record, up 2.8% from December 2020, based on continued strength in the residential sector.
Forestry Products and Building and Packaging Materials Help Canada Posts $1.4 Billion Trade Surplus
Statistics Canada (StatsCan) reported today (3/5/21) that Canada posted a trade surplus of $1.4 billion in January 2021 — the first trade surplus since May 2019 and the largest since July 2014.
Construction Employment Drops in February 2021
Employment in the construction sector fell by 61,000 — a reflection of the declines in nonresidential specialty trade contractors (-37,000) and heavy and civil engineering construction (-21,000).