According to the ‘advance’ estimate released by the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Wood Markets News
Mortgage Rates Hold at Near Record Low Levels in Week Ending October 29th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 29th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.81% with an average 0.7 point, up slightly from last week when it averaged 2.80%.
Weekly Jobless Claims Decline in the Week Ending October 24th, 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 24th.
Pending Homes Sales Experience Minor Decline in September
The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI), which is a leading indicator of housing activity and is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, declined in September to a reading of 130.0.
Idaho Timber Industry Key Role Player in the State and Nation
Idaho’s timber industry continues to play a key role in the state’s economy.
Growing Alberta’s Forest Sector Amendment Act 2020 Passes First Reading in Provincial Legislature
The new Growing Alberta’s Forest Sector Amendment Act 2020 has passed its first reading in the provincial legislature. The bill would replace the existing Forests Act, which has not been updated since 1971.
Buyers Views of Home Affordability Improves in Q3 2020
According to the Q3 2020 Housing Trends Report (HTR) from the National Association of Home Builders (NAHB), 27% of buyers reported being able to afford half or more of the homes available for-sale in their desired markets.
Led by Refinance, Mortgage Applications Increased 1.7% in Week Ending 23rd October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 23rd, 2020, The Market Composite Index, a measure of mortgage loan application volume, increased 1.7% on a seasonally adjusted basis from one week earlier.
Natural Resources Canada Investing in Mass Timber Building at Chalk River Laboratories Site
Natural Resources Canada (NRC) is making a nearly $4 million (CAD) investment towards a series of mass timber buildings being constructed at the Atomic Energy of Canada Limited’s Chalk River Laboratories.
USDA Forest Service Researchers Report on the Life-Cycle Assessment of Redwood Lumber in US
The USDA Forest Service researchers recently published FPL-RP-706, October 2020 entitled Cradle-to-Gate Life-Cycle Assessment of Redwood Lumber in the United States.