The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 2 basis points from 5.92% of servicers’ portfolio volume in the prior week to 5.90%, as of October 18, 2020.
Wood Markets News
Huron Central Railway Issues Layoff Notice to all Employees
While still working with and waiting on Ottawa and Queen’s Park to put together a $40 million package for track maintenance and safety upgrades to the 288-kilometer line, which would avert a system wide shutdown, the Huron Central Railway has issued a notice to all 43 employees that their positions will be terminated at the end of December should the railway cease operation.
S&P CoreLogic Case-Shiller Report U.S. Home Prices Increase 5.7% in August
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, increasing demand and limited availability caused home prices to increase at a reported 5.7% annual gain in August, up from 4.8% in the previous month.
Oregon Wildfires Hit Logging Companies and Their Families Hard
The wildfires in Oregon continue to smolder and some are still burning.
Holmen Investing in New Tunnel Drier for their Iggesund Sawmill
Holmen AB, the Stockholm Sweden based company, is investing SEK 70 million ($ 8 million) in a new drying plant which will increase its drying capacity at their Iggesund Sawmill from 400,000 to 500,000 m3.
Potential Home Buyers Believe Availability Will Improve in the Months Ahead
According to the latest National Association of Homebuilders (NAHB) Housing Trends Report (HTR), 28% of prospective buyers in the third quarter of 2020 expected their search for a new or existing home would be easier in the months ahead.
New Home Sales Taper Off in September – Year-Over-Year Up 32.1%
The U.S. Census Bureau reported that the sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000.
Share of Americans Contemplating the Purchase of a New Home Increases in Q3 2020
The share of Americans who are considering the purchase of a new home in the next 12-months increased.
Sawn Softwood Markets Not Excessively Impacted by the World Wide COVID-19 Pandemic
The impacts of COVID-19 on softwood lumber production have been modest.
The United Kingdom Urges Timber Traders to Prepare for Changes Effective at End of 2020
New due diligence checks to ensure timber and timber products have not been illegally harvested will be required by UK.