The Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) for All Urban Consumers (CPI-U) increased 0.4% in February on a seasonally adjusted basis after rising 0.3% in January.
Wood Markets News
Fire Crews Respond to Carrier Lumber Ltd., Tabor Sawmill in Prince George B.C.
According to the Regional District of Fraser Fort-George, a fire was reported about 10:30 PM at the Carrier Lumber Ltd., Tabor sawmill located on Willowcale Road, on Tuesday, March 9, 2021.
Mortgage Applications Decrease in the Week Ending March 5, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending March 5, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -1.3% on a seasonally adjusted basis from one week earlier.
Mortgage Credit Availability Index Unchanged in February, Remains Close to Lowest Level Since 2014
According to the latest Mortgage Credit Availability Index (MCAI), mortgage credit availability remained unchanged at 124.6 in February. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
RoyOMartin’s Chopin Louisiana Facility Marks Twenty-fifth Anniversary of Operations
RoyOMartin’s plywood and timber manufacturing plant in Chopin, Louisiana marked its twenty-fifth anniversary of operations on Monday, March 8th, 2021. Construction on the Natchitoches Parish facility began in August 1994, which continues to be one of the largest of its kind in North America.
Brazilian Exports of Wood-Based Products Increased 22.8% Year-Over-Year in January 2021
According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (except pulp and paper) in January 2021 amounted to US$253.6 million, an increase of 22.8% when compared to January 2020, when they were valued at US$206.6 million.
Canadian Confidence Index Rises to Highest Level Since January 2018 in Week Ending March 5, 2021
According to the Bloomberg Nanos Canadian Confidence Index (CCI), which is a gauge of household sentiment, Canadian consumer confidence rose to its highest level since January 2018, amid optimism that an accelerated vaccine rollout will soon bring an end to the Covid-19 health crisis.
Shares of Mortgages in Forbearance Decreased in Week Ending February 28, 2021
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 5.23% of servicers’ portfolio volume in the prior week to 5.20% as of February 28, 2021.
Westervelt Company Celebrates the Completion of Their New Thomasville Alabama Sawmill Facility
Westervelt Company celebrated the completion of their new Thomasville Alabama sawmill facility and shipped the mill’s first load of lumber on Friday March 5th.
X-Frame – New Innovative, Reusable Framing System for Residential and Commercial Projects
While attending architecture school, Gerard (Ged) Finch founded a reconfigurable structural timber framing system, X-Frame in 2017. According to Finch, X-Frame is a way to reduce construction waste and help transition the building industry towards a more circular economy.