According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending November 13th, 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -0.3% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Work on 12-Story, 245-unit, Large Mass Timber Condo in Victoria Island B.C. Underway
Groundbreaking has taken place on a two-phase, 245-unit condominium “Tresah” in Victoria B.C. When completed it will be the largest mass timber condominium project in area.
Fire Damages Chip Bin at West Fraser’s Williams Lake B.C., Soda Creek Road Lumber Mill
Fire fighters from the Williams Lake Fire Department (WLFD) were called the scene of a structure fire early on Monday morning in a hopper (chip bin) that feeds the woodchipper at the West Fraser mill on Soda Creek Road in Williams Lake. B.C.
Canadian Home Sales Slow in October but Home Prices Continue to Rise
The Canadian Real Estate Association (CREA) is reporting that home sales in Canada dropped -0.7%, on a seasonally adjusted basis in October. This after reaching a new monthly sales record in September.
The Share of Mortgage Loans in Forbearance Decline to 5.47% in Weekending November 8th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports the total number of loans now in forbearance decreased for the 11th straight week in a row from 5.67% of servicers’ portfolio volume in the prior week to 5.47% as of November 8, 2020 – a 20-basis-point improvement.
Builder Confidence in Newly-Built Single-Family Homes Sets Another Record at 90 in November
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 advanced 5-points in November, to set another new all-time high reading of 90.
Mortgage Credit Availability Improves in October but Still Remains at Constrained Levels Last Scene in 2014
According to the Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI) mortgage credit availability eased in October. The MCAI analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.
U.S. District Judge Denies U.S. Structural Plywood Integrity Coalition Lawsuit Against Brazilian Plywood Manufacturers
In the Southern District of Florida, U.S. District Court Judge Roy K. Altman has ruled against the U.S. Structural Plywood Integrity Coalition, a collection of 10 different American plywood companies, in their lawsuit against PFS Corporation etal.
Ontario Provincial Government Proposes Making Temporary Logger Exemption to Endangered Species Permanent.
The Ontario provincial government is proposing making a temporary, 2013 exemption, for loggers from the endangered species law permanent.
Klausner and Halifax County Reach Revised Settlement in Bankruptcy Court
United States Bankruptcy Judge Karen B. Owens, in Delaware, has approved a revised settlement between Halifax County North Carolina and Klausner II, a proposed sawmill in the area around Enfield North Carolina, which started construction in 2014, but the project was never completed.