Kalesnikoff Lumber is a fourth-generation family-owned company based in Castlegar, B.C. with roots that date back to 1939, when three brothers began a logging business on the nearby mountainside. That developed in the late 1960’s to a sawmill, and then came a dry kiln and planner operation.
Wood Markets News
Mortgage Rates Set New Record Low Level in the Week Ending January 7th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending January 7th, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.65% with an average 0.7 point down from last week when it averaged 2.67%.
Job Cuts Spike in December – Up 18.9% from November
According to the latest released report by Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, planned job cuts announced by U.S. based employers jumped to 77,030 in December. An increase of 18.9% from November’s announced cuts of 64,797.
Enviva Partners with Forestry Associations to Rejuvenate Longleaf Pine Growth in the South
A partnership between Enviva, the world’s largest producer of industrial wood pellets, working with the Longleaf Alliance (LLA), Wildlife Mississippi, and the Mississippi Forestry Association is trying to boost longleaf pine habitats by creating new opportunities for public and private landowners.
ADP Reports Private Sector Employment Decreased by 123,000 Jobs in December
According to the August ADP National Employment Report® nonfarm private sector employment decreased by 123,000 jobs from November to December. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.
Mortgage Applications Dip Over the Two-Week Holiday Period
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
Previously reported article incorrect.
Katerra Receives an Additional $200 Million Investment from Softbank
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
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
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.