Builder sentiment in the market for newly built single-family homes rose in January, according to the NAHB/Wells Fargo Housing Market Index.
Wood Markets News
US Remodeler Sentiment Trends Higher in Q4
The NAHB/Westlake Royal Remodeling Market Index posted a reading of 68 in Q4, a 5-point gain from the previous quarter.
US 30-Year Mortgage Rates Surpass 7% for the First Time Since May 2024
The 30-year fixed-rate mortgage averaged 7.04%, up from last week when it averaged 6.93%, Freddie Mac reported.
US Multifamily Markets End 2024 With Lower Asking Rents
Advertised asking rents declined $4 to $1,742 in December, Yardi reported. Year-over-year, growth slowed to 0.6%, the 16th consecutive month with increases below 1%.
US Weekly Initial Jobless Claims Increase in the Week Ending January 11
The advance figure for seasonally adjusted initial unemployment claims was 217,000, an increase of 14,000 from the previous week’s revised level.
British Columbia Launches BC Timber Sales Review
BC has launched a review of BC Timber Sales (BCTS) to ensure the province’s forestry sector is continually evolving to overcome challenges and a stronger future.
US Consumer Price Index Increases 2.9% Year-Over-Year in December
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% on a seasonally adjusted basis in December, following a 0.3% increase in November.
Canadian Existing-Home Sales Decline 5.8% in December
Sales were down 5.8% compared to November but still stand 13.0% above May, just before the first rate cut by the Bank of Canada, CREA reported.
Effort to Find Buyers for Insolvent Ziegler Group Moves Forward
A letter from the insolvency administrator, reviewed by BR24, indicates that the search for investors for segments of the insolvent Ziegler Group is nearing its initial conclusions.
Mortgage Applications Climb in the Week Ending January 10
Mortgage loan application volume increased 33.3% on a seasonally adjusted basis from one week earlier, MBA reported.