Air New Zealand is just a few months away from moving into Hangar 4, which will become one of the world’s largest single-span timber arch hangars once completed, Wood Central reported.
Wood Markets News
MBA Mortgage Credit Availability Index Increases in October
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 99.2 in October.
Canadian Existing-Home Sales Jump 7.7% in October
Existing-home sales activity increased 7.7% month-over-month in October, reaching its highest level since April 2022, CREA reported.
US Forest Service Awards $20 Million to Help Reduce Wildfire Risk and Support Communities
The US Forest Service announced that it has awarded $20 million to transport hazardous fuels from forests to facilities for processing into wood products or energy sources.
Canada’s 2 Billion Trees Program Reaches Major Milestone
As of June, the government has signed or was negotiating tree-planting agreements representing a commitment to plant 716 million trees—nearly tripling last year’s total.
Arauco to Replace MDF Line With Modern OSB Plant in Cholguán, Chile
Arauco, the world’s second-largest manufacturer of wood-based panels, has commissioned DIEFFENBACHER to supply an OSB plant to replace an existing MDF line.
US Mortgage Rates Little Changed in the Week Ending November 14th
The 30-year fixed-rate mortgage averaged 6.78%, down from last week when it averaged 6.79%, Freddie Mac reported.
US Producer Price Index for Final Demand Up 2.4% Year-Over-Year in October
The Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending November 9th
The advance figure for seasonally adjusted initial unemployment claims was 217,000, a decrease of 4,000 from the previous week’s unrevised level.
Associated Builders and Contractors Construction Backlog Indicator Falls in October
ABC’s Construction Backlog Indicator fell 0.2 months to 8.4 months in October. The reading is unchanged from October 2023.