BC port employers say they may be “required to reassess” their position as a lockout shuts down most shipping on the West Coast, The Canadian Press reported.
Wood Markets News
US Pending Homes Sales Hold Steady, Despite Election Jitters and Mortgage Rates Above 7%
US pending home sales rose 4.3% year-over-year during the four weeks ending November 3rd, Redfin reported.
US Mortgage Rates Trend Higher for the Sixth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.79%, up from last week when it averaged 6.72%, Freddie Mac reported.
US Multifamily Market Survey Reports Mixed Results for Q3
Confidence in the market for new multifamily housing showed mixed results year-over-year in Q3, NAHB reported.
Mortgage Delinquencies Decline Modestly in Q3, But Remain Elevated Year-Over-Year
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased slightly compared to one year ago, MBA reported.
US Weekly Initial Jobless Claims Trend Higher in the Week Ending November 2nd
The advance figure for seasonally adjusted initial unemployment claims was 221,000, an increase of 3,000 from the previous week’s revised level.
Port of Prince Rupert, BC, Experiencing Disruptions Amid Work Stoppage
The Port of Prince Rupert is experiencing disruptions following the issuing of a 72-hour strike notice by ILWU Local 514 and the subsequent 72-hour lockout notice issued by the BCMEA.
Mortgage Applications Decline in the Week Ending November 1st, Marking Sixth Consecutive Drop
Mortgage loan application volume decreased 10.8% on a seasonally adjusted basis from one week earlier, MBA reported.
US Wood Pellet Exports Increase in September
The US exported 898,128.2 metric tons of wood pellets in September, up from 775,296.1 metric tons in August, a Biomass Magazine review of USDA data shows.
University of Oregon Prototype Home Features Innovative Construction Using Oregon-Made Mass Plywood Panels
A University of Oregon team has completed construction on a prototype house that showcases a sustainable, energy-efficient alternative to traditional home construction, KTVZ reported.