The Bureau of Labor Statistic reported today, Friday March 12th, 2021, that the Producer Price Index for final demand seasonally adjusted increased 0.5% in February. This rise followed advances of 1.3% in January and 0.3% in December.
Wood Markets News
Poland Announces Plans to Resume Logging in the former Bialowieza Forest
Poland sighting the need to clear roads and protect trees from the spruce bark beetle has announced it plans to resume logging in the former Bialowieza Forest.
First Time Home Buyers Currently Make up 43% of New Home Market
Results of the February survey for the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reveals that first-time home buyers comprise ~43% of the new home market. The average first-time buyer share has trended upward steadily since NAHB began using the current methodology to measure it in 2016.
Fannie Mae Tightens Standards Loans on Investment Property
In a letter sent to sellers on Wednesday (3-10-21), Fannie Mae, the government sponsored entity (GSE), said it was tightening the underwriting criteria for second homes and investment properties.
30-Year Mortgage Rate Tick Higher in the Week Ending March 11th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 11th March 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.05% with an average 0.6 point, up from last week when it averaged 3.02%. A year ago, at this time, the 30-year FRM averaged 3.36%.
Job Opening and Labor Turnover Survey for January 2021
The U.S. Bureau of Labor Statistics (BLS) today (3-12-21) posted its Job Opening and Labor Turnover Survey (JOLTS) for January 2021. According to the JOLTS report, as of the last business day in January, the number and rate of job openings were little changed at 6.9 million and 4.6% respectively.
Weekly Jobless Claims Decline in the Week Ending March 6th, 2021
The U.S. Department of Labor is reporting that an additional 712,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday March 6th, 2021. A decrease of 42,000 from the previous week’s revised level.
Roseburg Announces the Addition of SFI Certification on Select Western Manufactured Products
Roseburg has announced the addition of Sustainable Forest Initiative® (SFI) certification for select products manufactured at its Oregon and California facilities. Roseburg owns and manages 158,000 acres of SFI-certified timberland in North Carolina and Virginia.
Belarusian Sawmill Kimabel to Add New Timber Sorting Line
The installation of a new timber sorting line, costing as much €3 million, is the latest step in the modernization of the woodworking enterprise OOO KimaBel in Polotsk District, Vitebsk Oblast. The sophisticated timber conversion line can process even round wood that has defects.
The Associated Builders and Contractors Construction Backlog Indicator Rises Sharply in February
A survey of Associated Builders and Contractors (ABC) members conducted between February 22 and March 3, 2021 reports that the ABC Construction Backlog Indicator rose to 8.2 months in February.