According to a press release provided by the South Central Oregon Fire Management Partnership (SCOFMP), as of Friday morning (6-11-21), the Fire Danger level in the area has been elevated to “High”. Early season summer-like hot, dry weather, depleted snowpack and rapid drying of forest fuels have resulted in fire danger levels reaching “High”.
Wood Markets News
Resolute Forest Products Announces $50 Million Investment to Support Wood Products Growth
Resolute Forest Products Inc., announced on Thursday (6-10-21) that the company was making an additional capital investment of $50 million in its wood products operations to support its continued growth.
U.S. Real Estate Values Soar Higher in Q1 2021
According to the latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, also known as the ‘Flow of Funds”, with analysis provided by the National Association of Home Builders (NAHB) in Q1 of 2021, the aggregate market value of all owner-occupied real estate in the US registered the largest numerical quarterly increase in the last 20 years’ worth of data.
Mortgage Credit Availability Eases in May
According to Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from the Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability increased in May. The MCAI rose by 1.4% to 129.9.
Index of Consumer Sentiment for June up 4.2% Month-Over-Month, 20.5% Year-Over-Year
The University of Michigan today (6-11-21) released its preliminary Index of Consumer Sentiment (ICS) for June. Month-over-month the ICS rose 4.2% from 82.9% in May to 86.4% in June. When compared to June 2020, the ICS increased 10.6% or 78.1% to 86.4%.
Fire Season Starts Early in Northeast Oregon
With fire conditions and behaviors typically seen in mid-to-late July currently taking place, forest managers in northeast Oregon are declaring an early start to the 2021 fire season. The announcement was made on Tuesday (6-8-21), as Oregon Department of Forestry firefighters worked to contain two wildfires ignited by lighting in the region.
Canadian Total Investment in Building Construction Increases 6.3% in April
Statistics Canada (StatsCan) is reporting that total investment in building construction increased 6.3% to $19.9 billion (CAD) in April. Residential construction investment continues to lead the way, rising for the 12th consecutive month.
Consumer Price Index for All Urban Consumers Increases 0.6% in May, 5.0% Year-Over-Year
The U.S. Bureau of Labor Statistics (BLS) announced on Thursday (6-10-21) the Consumer Price Index for all Urban Consumers (CI-U) increased 0.6% in May, on a seasonally adjusted basis, after rising 0.8% in April. Over the last 12 months, the all items index increased 5.0% before seasonal adjustment.
Weekly Jobless Claims Drop in the Week Ending June 5, 2021
The U.S. Department of Labor is reporting that an additional 376,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, June 5, 2021 — a decrease of 9,000 from the previous week’s unrevised level.
Mortgage Rates Trend Lower in the Week Ending June 10, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending June 10, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.96% with an average 0.7 point, down from last week when it averaged 2.99% percent.