The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 3 basis points from 5.38% of servicers’ portfolio volume in the prior week to 5.35% as of January 31, 2021.
Wood Markets News
Job Opening and Labor Turnover Survey for December 2020
The U.S. Bureau of Labor Statistics (BLS) has posted its Job Opening and Labor Turnover Survey (JOLTS) for December 2020. According to the JOLTS report, as of the last day in December, the number of job openings was little changed at 6.6 million and 4.5% respectively.
Blue Wolf Capital Partners LLC Announces Their Investment in Vicksburg Forest Products LLC
Blue Wolf Capital Partners LLC, a New York based private equity firm, announced today (2-8-21) that it has made an investment in Vicksburg Forest Products, LLC (VFP) a manufacturer of Southern Yellow Pine lumber products at their sawmill facility in Vicksburg, Mississippi.
Pressure Treated Wood Waste Disposal Solution for California Emerges
In January, the governor’s veto of California Assembly Bill 68, resulted in treated wood waste having to be disposed of in a Class 1 Hazardous Waste Landfills. Needless to say, it took the industry and end users by surprise.
Total Consumer Credit Ends 2020 Flat
According to the latest (2-5-21) Federal Reserve’s G.19 Report, the economic recession caused by the COVID-19 pandemic derailed the consumer credit’s trajectory growth rate for all of 2020. Revolving credit, of which credit card debt is a major component, shrank by -11.2% over the year, while nonrevolving credit increased 3.9%, thus producing an overall growth rate of 0.0%.
Total Investment in Canadian Building Construction increased 1.5% in December
Statistics Canada (StatCan) is reporting that total investment in building construction increased 1.5% in December, following three consecutive months of declines. In December, non-residential construction investment remained at $4.4 billion for the third consecutive month.
Housing Affordability Rates Holds Steady in Q4 2020
According to the National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI) in Q4 of 2020, record-high homes prices were offset by record-low mortgage rates and as a result affordability rate held steady.
Resolute Forest Products Announces Reopening of Ignace Sawmill
Resolute Forest Products announced on Thursday (2-4-21) that they are going to reopen the Ignace sawmill, starting with one shift next week, and that is going to increase the on-site employment to about 25 people. Seth Kursman, Resolute spokesperson added they idled the sawmill in 2019 but kept a skeleton staff on hand, spending about $125,000 a month to maintain the mill.
Delays in Reopening of Kenora Sawmill Clarified by Unifor
When Itasca Capital purchased the Kenora Sawmill back in October of 2020, the company made it clear that before they could reopen the facility, they needed a steady and reliable source of logs. The Province of Ontario continues to work with the company on finding a source of wood, with the potential for the First Nations in the area as partners in the project.
Berthoud Colorado Company Takes Wildfire Residue and Creates Carbon-Rich Charcoal That Helps Soil Retain Water and Nutrients
As Colorado recovers from its worse wildfire season on record, many foresters are looking for products that could provide the financial motivation for fire mitigation products, which reduce fuels but also create massive piles of unwanted timber. It is difficult to overstate the size of the problem.