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.
Wood Markets News
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.
Hammond Lumber Company Adds Second Lumber Manufacturing Facility
Hammond Lumber Company, a family-owned company founded in 1953, with headquarters in Belgrade Maine, has announced the acquisition of a smaller competitor, Tukey Brothers, Inc., a sawmill in North Belgrade.
U.S. Home Prices Increase Nationwide in August 1.5%
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that House prices rose nationwide in August, up 1.5% above July’s reading.
Consumer Confidence Slips in October
In October, American consumers became more concerned about their prospects for employment, incomes and the economy. As a result, consumer confidence suddenly pulled back in October.
The Share of Mortgage Loans in Forbearance Drops to 5.90% in Weekending October 18th, 2020
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.
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.