Wood Markets News

Mortgage Applications Dip Over the Two-Week Holiday Period

January 6, 2021 · End Use

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending January 1st, 2021, and includes adjustments to account for the holidays, The Market Composite Index, a measure of mortgage loan application volume decreased -4.2% on a seasonally adjusted basis from two weeks earlier.

Correction: Interfor Made No Announcement Regarding Adams Lake Sawmill

January 5, 2021 · Mill Capacity Changes

Previously reported article incorrect.

Katerra Receives an Additional $200 Million Investment from Softbank

January 5, 2021 · Offsite Construction

The Wall Street Journal (WSJ) is reporting that Katerra, a modular prefabrication and timber innovations company was saved from bankruptcy on December 30th, 2020, by Japanese investment giant Softbank with an infusion of $ 200 million in cash.

Weston Forest Acquired by the Watermill Group

January 5, 2021 · Lumber

Weston Forest with their head office located in Mississauga, Ontario, Canada, has announced that they have been acquired by the Watermill Group, a strategy driven private investment firm. Weston which operates eight facilities across eastern Canada and the U.S., provides niche market services and products that are vital to commercial and residential construction as well as the production and shipment of industrial goods.

CoreLogic® Reports Annual Year-Over-Year U.S. Home Price Appreciation Jumped 8.2% in November

January 5, 2021 · COVID-19 End Use

CoreLogic®, a leading global property information, analytics and data-enabled solution provider released today (1-5-21) the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2020. Year-over-year nationally home prices increased 8.2% (November 2019 – November 2020), the largest annual appreciation since March 2014.

Mortgages in Forbearance Increase Again in Week Ending December 31st, 2020

January 5, 2021 · End Use

According to Black Knight, one of the premier providers of integrated technology, data and analytics solutions for lenders and financial businesses, the number of mortgages in active forbearance rose by 15,000 in the week ending on Thursday, December 31st.

November Total Private Residential Construction Spending Up 16.1% Year-Over-Year

January 5, 2021 · End Use

A deeper dive into the U.S. Census Bureau’s Construction Spending data, provided by the National Association of Home Builders (NAHB) reveals that total private residential construction spending increased 2.7% in November, to a seasonally adjusted annual rate of $658.1 billion.