The bark beetle infestation that destroyed large portions of forest in the southern Sierra Nevada’s has moved into the North State, killing millions of trees and adding fuel to an already dangerous wildfire season. And according to the U.S. Forest Service, the federal agency responsible for managing much of California’s forested lands, it is a problem that won’t be going away anytime soon.
Wood Markets News
Despite a Hot Housing Market Job Openings in the Construction Sector Decline in May
A deeper dive into the Bureau of Labor Statistics (BLS) May 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 the number of open construction jobs decline in May to 299,000 unfiled positions.
Job Opening and Labor Turnover Survey for May 2021
The U.S. Bureau of Labor Statistics (BLS) today (7-7-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for May 2021. According to the JOLTS report, as of the last business day in May, the number and rate of job openings was little changed at 9.2 million.
Mortgage Applications Drop for Second Week in a Row Down -1.8% in the Week Ending July 2nd, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending July 2nd , 2021, the Market Composite Index , a measure of mortgage loan application volume decreased -1.8% percent on a seasonally adjusted basis from one week earlier.
Shares of Mortgages in Forbearance Decline for 18th Week in a Row, in the Week Ending June 27th, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 4 basis points from 3.91% of servicers’ portfolio volume in the prior week to 3.87% as of June 27, 2021.
Kristi Corporation to Invest in New Log Load and Fumigation Facility in Suffolk Virginia
Kristi Corporation, an exporter of a variety of logs, lumber and biomass from North America to over 40 countries worldwide, has announced it will be investing $1.1 million to set up a log load and fumigation facility in Suffolk, Virginia.
Brazilian Exports of Wood-Based Products Increased 76% Year-Over-Year in May 2021
According to the International Tropical Timber Organization (ITTO) the value of Brazilian exports of wood-based products (except pulp and paper) increased 76% in value year-over-year from US$235.5 million, in May 2020, to US$414.8 million in May 2021.
Canadian Consumer Confidence Hits New Record High in Latest Bloomberg Nanos Research Group Polling
According to the latest Nanos Research Group polling, conducted on behalf of Bloomberg News, Canadian consumer sentiment reached a new record high in the week ending July 2nd, 2021. The Bloomberg Nanos Canadian Confidence Index jumped to 66.4 last week, the highest reading since surveys began in 2008.
The Consumer Financial Protection Bureau Finalizes Amendments to Help Protect Mortgage Borrowers from Unwelcome Surprises
The Consumer Financial Protection Bureau (CFPB) a Federal Government Agency, has just finalized amendments to reinforce the ongoing economic recovery as the federal foreclosure moratoria are phased out. The amendments will also help protect mortgage borrowers from unwelcome surprises as the exit forbearance plans.
Roseburg Forest Products Announces Plans to Build State-of-the-Art Sawmill in Weldon, North Carolina
Roseburg Forest Products announced on Thursday, July 1st, 2021, that it intends to build a new high-capacity lumber mill in the town of Weldon, Halifax County, North Carolina.