The British Columbia provincial government is delivering relief to small- and medium sized forestry businesses to help offset the extra costs of keeping their employees and communities safe, while operating through the COVID-19 pandemic.
Wood Markets News
Quebec’s Provincial Government Announces Aggressive Wood Harvesting Plan within 60 years
Quebec’s Premier, Francois Legault’s government has announced that it intends to almost double the amount of wood harvested each year in Quebec forest within 60 years.
City of Prince George British Columbia to Conduct Survey on all Sectors of the Forestry Industry
The City of Prince George British Columbia, Economic Development department has identified the forest industry as one of the important “cluster” industries with significant economic impact on the city.
Mortgage Rates are at New Record Low Level in the Week Ending December 17th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending December 17th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.67% with an average 0.7 point, down from last week when it averaged 2.71%.
Housing Starts and Permits Increase in November
The U.S. Census Bureau has reported that privately‐owned housing starts in November were at a seasonally adjusted annual rate (SAAR) of 1.547,000.
Weekly Jobless Claims Inches Higher in the Week Ending December 12th, 2020
The U.S. Department of Labor is reporting that an additional 885,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, December 12th. An increase of 23,000 from the previous week’s revised level.
Impacts of 2020 Hurricanes Still Being Felt by Louisiana Timber Industry
The Louisiana timber industry continues to deal with aftermath of the 2020 hurricane season. According to, LSU AgCenter forestry specialist Robbie Hutchins, overall, state and federal estimates have determined the 2020 storms affected 920,000 acres in Louisiana, causing losses totaling $1.4 billion.
Builder Confidence in Newly Built Single-Family Homes Drops in December
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.
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.