The U.S. Bureau of Labor Statistics (BLS) is reporting that unemployment rates were lower in December in 19 states, higher in 12 states and the District of Columbia, and stable in 19 states. Forty-five states and the District had jobless rate increases from a year earlier, one state had a decrease, and four states had little or no change.
Wood Markets News
Shares of Mortgages in Forbearance Increase Slightly in Week Ending January 17th, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance increased slightly from 5.37% of servicers’ portfolio volume in the prior week to 5.38% as of January 17, 2021.
Mortgage Applications Decrease 4.1% in Week Ending January 22nd, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 22nd , 2021, the Market Composite Index a measure of mortgage loan application volume, decreased -4.1% on a seasonally adjusted basis from one week earlier.
British Columbia is Serious About Climate Smart Construction
While climate change and its related effects remain a global challenge, British Columbia municipalities are taking action to reduce its impact at the local level.
Housing Trend Report Finds COVID-19 Pandemic Continues to Influence on Home Purchasing
The latest Housing Trend Report (HTR) from the National Association of Home Builders (NAHB) reveals that the share of Americans who are considering the purchase of a home in the next 12 months was 15% in the Q4 of 2020, four percentage points higher than a year earlier and the largest year-over-year gain in the 3+year history of this series.
The Conference Board Reports Consumer Confidence Index® Improved in January
The Conference Board is reporting that their Consumer Confidence Index® improved moderately in January 2021 after declining in December 2020. The index now stands at 89.3, up from December’s reading of 87.1.
S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index Reports Home Prices Gained in November
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index report, which covers all nine U.S. Census divisions, home prices on an annual basis gained 9.5% in November, up from 8.4% increase in October.
Federal Housing Finance Agency Reports November House Prices Increased 11% Year-Over-Year
According to the latest Federal Housing Finance Agency’s House Price Index (FHFA HPI®) house prices rose nationwide in November, up 1.0% from the October reading. Year-over-year house prices have increased 11.0% (November 2019 to November 2020).
U.S. International Trade Commission Determines Wood Mouldings and Millwork from China are Being Sold at Less Than Fair Value
The United States International Trade Commission (USITC) on Friday 22nd January 2021 determined that a U.S. industry is materially injured by reason of imports of wood mouldings and millwork products from China, that the U.S. Department of Commerce (Commerce) has determined are subsidized and sold in the United States at less than fair value.
Acquisition, Development and Construction Loan Volume Decreased in Q3 2020 as Cost of Borrowing Increased
During a period of rising builder confidence and expansion of single-family home building lending for construction declined. Continuing a period of weakness that began in Q4 of 2019.