The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly built single-family homes declined 4-points to a reading of 86 in December. Bringing the three consecutive month streak of new records highs to an end.
Wood Markets News
Mortgage Applications Increase 1.1% in Week Ending December 11th, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending December 11th, 2020. The Market Composite Index, a measure of mortgage loan application volume, increased 1.1% percent on a seasonally adjusted basis from one week earlier.
Closure of Verso Corp Paper Mill in Duluth Creates Potential Wildfire Hazards in Local Forests
When the Verso Corp. paper mill in Duluth closed its doors this summer, the northern Minnesota area took an economic hit.
China’s New Home Price Increases Slowed in November
Official data from China’s National Bureau of Statistics (NBS) reveals that new home prices in 70 of China’s major cities continued to cool in November.
The Share of Mortgage Loans in Forbearance Decreases Modestly in the Week Ending December 6th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased from 5.54% of servicers’ portfolio volume in the prior week to 5.48% as of December 6th, 2020.
American Wood Council Praises the Passage of rec National Defense Authorization Act
The American Wood Council (AWC), a voice for the North American wood products manufacturing, representing 86% of the structural wood products industry, is applauding the passage of the rec National Defense Authorization Act (NDAA).
Canadian Housing Starts Up in November
According to Canada Mortgage and Housing Corporation (CMHC) the trend, which measures a six-month moving average of the monthly seasonally adjusted annual rates (SAAR), in housing starts was 231,491 units in November 2020, up from 222,989 units in October 2020.
Independent Panel Finds Ukraine’s 2015 Ban of All Unprocessed Wood into the EU Illegal
Panel rules Ukraine’s ban of unprocessed wood exports violates EU-Ukraine bilateral trade agreement.
Idaho Forest Group Announces New Lumber Mill in Mississippi
IFG plans to build new, large-scale softwood lumber mill in southern Mississippi. Operations are expected to begin in mid-2022.
Norbord to Restart Chambord Quebec OSB Mill in Spring of 2021
Norbord, in a press release today (12/14), announced as part of their flexible operating strategy and in response to increased customer demand that they intend to restart production at their Chambord, Quebec OSB mill in the spring of 2021.