US house prices rose 0.4% in August and 2.3% year-over-year, with gains led by the Middle Atlantic division, FHFA reported.
Wood Markets News
US Median Monthly Housing Payment Posts Largest Decline in Nearly a Year
The median US monthly housing payment fell 1.4% to $2,530, the largest drop since November 2024, as mortgage rates eased, Redfin reported.
Segezha Group to Begin Supplying Products to Mexico
Segezha Group signed its first plywood supply contract in Mexico and plans to expand shipments across Latin America, Interfax reported.
Canadian Payroll Employment Little Changed in August
Payroll employment was little changed in August, rising by 3,300 positions, while job vacancies fell to their lowest level since 2017.
Federal Reserve Cuts Key Interest Rate by 0.25%
The Federal Reserve lowered its key rate by 0.25 percentage point to 3.75–4.00%.
US Pending Home Sales Hold Steady in September
Pending home sales were unchanged month-over-month but up 3.8% year-over-year in September, NAR reported.
Bank of Canada Cuts Key Interest Rate to 2.25%
The bank lowered its key rate by 25 basis points to 2.25%, warning that US tariffs are reshaping Canada’s economy and limiting growth, CBC reported.
HS Timber Group Acquires Swedish Sawmill Malå Såg From Setra Group
HS Timber Group will acquire Malå Såg from Setra Group, adding a Swedish northern pine producer with 340,000 cubic meters of annual capacity.
US Mortgage Applications Rise in the Week Ending October 24
Mortgage loan application volume rose 7.1%, with refinance activity up 9.0% and purchase applications increasing 5.0%, MBA reported.
Milan Olympic Village Built With Mass Timber, Completed Ahead of Schedule
The six-building mass-timber complex will later become Italy’s largest affordable student housing site, dezeen reported.