As reported by Statistics Canada, Canadian lumber production increased 4.1% from July 2020 to August 2020. Year-over-year production was 1.3% above August 2019.
Wood Markets News
China Suspends the Importation of Timber from Australia
Ties between China and Australia began to fray in early April and the friction between the two countries continues to heat up. On Monday (11/2), China’s foreign ministry confirmed that China had suspended imports of timber from the Australian state of Queensland, noting that since January, Chinese customs has detected several cases of live pest in timbers imported from the region.
The Share of Mortgage Loans in Forbearance Drops to 5.83% in Weekending October 25th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports the total number of loans now in forbearance decreased by 7 basis points from 5.90% of servicers’ portfolio volume in the prior week to 5.83% as of October 25, 2020.
October Job Layoffs Down 32% from September
According to the monthly report released today (11/5) from Challenger, Gray and Christmas Inc., a global outplacement and business and executive coaching firm, October layoffs were the lowest in seven months, as U.S. based employers announced plans to cut 80,666 from their payrolls.
Weekly Jobless Claims Decline in the Week Ending October 31st, 2020
The U.S. Department of Labor is reporting that an additional 751,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 31st. A decrease of 7,000 from the previous week’s revised level.
Mortgage Rates Hit A New Record-Breaking Low Level in the Week Ending November 5th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 5th November 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.78% with an average 0.7 point, down from last week when it averaged 2.81% percent.
Weyerhaeuser to Invest $16.1 Million at Natchitoches Louisiana LVL Mill over Next 3 + Years
Weyerhaeuser announced that it expects to invest $16.1 million over the next 3 or more years in upgrades to equipment and the modernization of their facility located in Natchitoches Louisiana.
Forest Products Association of Canada Offer Ideas on How Forestry Can Help Canada’s Economic Recovery
On Tuesday (11/3) the Forest Products association of Canada (FPAC) appeared before the House of Commons Standing Committee on Natural Resources to speak with Members of Parliament about how the forest sector workers and communities can work with the government to advance Canada’s economic recovery and help grow a lower carbon economy for the future.
Annual US Home Price Appreciation Hits Six-Year High in September
CoreLogic®, a leading global property information, analytics and data-based solution provider released on Tuesday (9/3) the CoreLogic Home Price Index (*HPI™) and HPI Forecast™ for September 2020.
ADP Reports Private Sector Employment Increased by 365,000 Jobs in October
ADP has released their National Employment Report® (NER) for October 2020. According to the report private sector employment increased by 365,000 jobs from September to October.