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.
Wood Markets News
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.
Mortgage Applications Increased 3.8% in Week Ending 30th October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 30th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.8% on a seasonally adjusted basis from one week earlier.
Montreal Economic Institute Economist Suggests Quebec Increase the Harvest of Provincial Forestlands
Miguel Ouellette, a Montreal Economic Institute (MEI) economist and director of operations has written an economic note titled “Quebec Forests: Rural Regions Lose Hundreds of Millions of Dollars a Year.”
Freres Lumber Begins Wildfire Timber Salvage Operations
The Labor Day wildfires in the Santiam Canyon in Oregon are just about out, but they consumed almost everything in their path. The Beachie Creek and Lionshead fires displaced more than 1,200 residents, destroyed more than 500 homes and consumed 400,000 acres of forest lands, both public and private.
Montana Sawmills Report High Demand and Higher Prices for Forest Products During Pandemic
Montana based sawmills are reporting that sawlog prices are reaching close to historic levels. F.H. Stoltze Land and Resource Manager Paul McKenzie in an interview with the Flathead Beacon newspaper said, “The product demand has increased dramatically in general forest products.”
Archie Creek Wildfire Timber Salvage Underway
In what is reminiscent of the mid to late 1980’s, log trucks and personnel carriers are running in caravans up and down the North Umpqua River corridor in Douglas County Oregon. They are not harvesting trees from the forest, but instead are working tirelessly to salvage as much wildfire damaged timber as possible.