Weyerhaeuser intends to indefinitely curtail production at its New Bern, North Carolina, sawmill, the New Bern Sun Journal reported.
Wood Markets News
BC Reducues Allowable Annual Cut Level for Slocan Valley Area
The new AAC for the TFL is 56,100 cubic meters. This is a 30% reduction from the previous AAC.
BC Reduces Allowable Annual Cut Level for Arrow Lake Area
The new AAC for the TFL is 382,800 cubic meters. This is a 7% reduction from the previous AAC.
Canadian Industrial Product and Raw Materials Price Indices for June
Prices for pulp and paper products increased 1.7% on a monthly basis in June, mainly due to higher prices for wood pulp—up 2.9%.
Remodeler Sentiment Holds Steady in Q2
The RMI for Q2 posted a reading of 65, down one point when compared to Q1. The index remains solidly in positive territory.
Over 150 Wildfires Burn Across Alberta, Many Out of Control
Alberta Wildfire has reported another 47 wildfire starts in the past 24 hours as 150 wildfires burn across the province, according to CBC News.
Investment in Canadian Building Construction Trends Higher in May
Investment in building construction edged up 0.8% month-over-month to $20.8 billion (CAD) in May, rebounding from a 2.0% decrease in April.
Fannie Mae Reports 6.9% Annual Increase in Q2 Single-Family Home Prices
The FNM-HPI shows single-family home prices increased 6.9%, down from the previous quarter’s upwardly revised annual growth rate of 7.3%.
Fixed-Rate Mortgages Continue to Fall in the Week Ending July 18th
The 30-year fixed-rate mortgage averaged 6.77%, down from last week when it averaged 6.89%, Freddie Mac reported.
Mortgage Applications for New Home Purchases Decline in June
Mortgage applications for new home purchases decreased 16.0% month-over-month in June but were up 0.7% year-over-year, MBA reported.