The NAR Pending Home Sales Index increased 2.0% to a reading of 72.0 in February. Year-over-year, pending sales were down 3.6%.
Wood Markets News
US Mortgage Rates Drift Lower in the Week Ending March 27
The 30-year fixed-rate mortgage averaged 6.65%, down from last week when it averaged 6.67%, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 2.4% in Q4, BEA Reports in Its “Third” Estimate
Real GDP increased at an annual rate of 2.4% in Q4, following an increase of 3.1% in Q3.
US Mortgage Application Payments Unchanged in February
The MBA Purchase Applications Payment Index increased 0.1% to 166.2 in February from 166.1 in January.
US Weekly Initial Jobless Claims Inch Lower in the Week Ending March 22
The advance figure for seasonally adjusted initial unemployment claims was 224,000, a decrease of 1,000 from the previous week’s revised total.
Sculptural Atrium and Stairway Crafted From Curved CLT in Switzerland
The headquarters of construction company Blumer Lehmann in Switzerland illustrates the possibilities of contemporary timber architecture, according to designbloom.
US Mortgage Applications Decline in the Week Ending March 21
Mortgage loan application volume decreased 2.0% on a seasonally adjusted basis from one week earlier, MBA reported.
UK Biofuel Policy Following Brexit Opened Markets for US Wood Pellets
Since Brexit, the UK’s renewable energy strategy has led to increased imports wood pellets, the USDA Economic Research Service reported.
8,700 BMWED Members Ratify New Contract With the National Carriers’ Conference Committee
8,700 members of the BMWED of the Teamsters Rail Conference voted to approve a new contract with the National Carriers’ Conference Committee (NCCC), FreightWaves reported.
Setra Reduces Production in Långshyttan, Sweden
Setra Group will transition its Långshyttan, Sweden, CLT and wood component facility from continuous production to periodic production.