The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 7 basis points from 5.29% of servicers’ portfolio volume in the prior week to 5.22% as of February 14, 2021.
Wood Markets News
The Conference Board Consumer Confidence Index® Continued to Improve in February
The Conference Board, a non-partisan, not-for-profit think tank, which was founded in 1916, released today (2-23-21) their Consumer Confidence Index® (CCI) for February 2021. The Index now stands at 91.3 (1985=100), up from 88.9 in January.
Town House Construction Reaches a 2.5 Year High in Q4 2020
Analysis of the most recent U.S. Census Bureau’s data of Starts and Completions by Purpose and Design, provided by the National Association of Home Builders (NAHB) reveals that townhouse construction expanded to a 2.5 year high during Q4 of 2020.
New Family Home Size Stabilize in Q4 2020 as Pandemic Shifts Consumer Preferences
According to Q4 2020 data from the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design and analysis provide by the National Association of Home Builders (NAHB), new home sizes did level off in 2020 after years of decline. This was driven by the impact of the COVID-19 pandemic and home buyers’ need for additional space as people use their homes for more purposes.
Oregon Logging Companies are Racing the Clock Trying to Harvest Damaged Logs from the Archie Creek Fire
Logging throughout most of Oregon and especially in Douglas County is bustling as logging companies rush to harvest whatever damaged lumber they can from the 131,542-acre burn scar which was the Archie Creek Fire. Log decks at Douglas County sawmills have not been this full since the late 1980’s.
January Housing Market Remains Red Hot with Double-Digit Increases in Home Sales and Prices
Redfin, the Seattle-based technology-powered real estate brokerage is reporting that the national medium home-sale price rose 14% year-over-year to $ 330,500 in January.
Wind Turbines Made of LVLs Help to Meet Europe’s Growing Demand for Wind Power
In Europe, the demand for wind power is steadily increasing. As a result, turbines to meet that growing demand are getting larger and larger. This in turn has created some logistical issues. To help solve those logistical issues, a small Swedish startup company, Modvion, that specializes in turbines made from laminated-veneer lumber (LVL) has entered the marketplace.
The Conference Board’s Leading Economic Index Increases in January 2021
The Conference Board, which was founded in 1916 as a non-partisan, not-for-profit think tank, today (2-22-21) released their January 2021, Leading Economic Index (LEI) for the U.S. According to the release, the LEI, which is based on ten separate components, increased 0.5% in January 2021 to a reading of 110.3 (2016=100), following a 0.4% increase in December 2020 and 0.9% increase in November 2020.
Canadian Confidence Index Reaches 16-Month High in February 2020
The Bloomberg Nanos Canadian Confidence Index (CFI), which measures Canadian household sentiment on subjects such as job security, personal finances and their outlook for both the economy and real estate prices, jumped last week to the highest since October 2019.
Rockshield Engineered Wood Products to Undergo Restructuring
Rockshield Engineered Wood Products has announced it is undergoing restructuring in the hopes of avoiding bankruptcy and the permanent closure of their Cochrane, Ontario facility.