Wood Markets News


Mortgage Credit Availability Tightens in June

According to Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from the Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability decreased in June. The MCAI fell by -8.5% to 118.8 in June.

Carbotech Group Acquires Autolog

Carbotech Group, a company that specializes in operational efficiency for the sawmill industry, with an emphasis on log and lumber handling, has announced that it has acquired Autolog, a company that specializes in wood process optimization and automation.

Oregon Wildfires Destroy Homes and Businesses and Force Hundreds to Evacuate

Drought-parched timber and brush lands, the result of record-breaking temperatures and dry and windy weather in south-central Oregon, have been the fuel source for a swiftly spreading wildfire that on Wednesday was in its ninth day. Only 5% around the perimeter is contained. The so-called Bootleg fire has burnt through more than 212,000 acres and has destroyed 21 homes and 54 other structures.

University of Michigan’s Consumer Sentiment Index Drops to 5-month Low in July’s Preliminary Report

The University of Michigan today (Friday 7-16-21) released its preliminary Consumer Sentiment Index (CSI) for July. Concerns about rising prices has led to a sharp drop in buying conditions for ‘big-ticket’ items and resulted in the decline. The CSI fell to a five-month low to a reading of 80.8 from 85.5 in June. Consumers expect inflation to rise 4.8% over the next year, the highest since August 2008.

Canadian Homes Sales Decline for Third Consecutive Month in June

Data released today (7-15-21) by the Canadian Real Estate Association (CREA) reports that Canadian national home sale decreased -8.4% between May and June 2021. This marks the third straight monthly decline since activity hit an all-time record in March 2021. While sales are now down a cumulative -25% from their peak, and below every other month in the last year, June transactions still managed to set a record for that month.