According to the latest report from the Canada Mortgage and Housing Corporation (CMHC) the trend, which measures a six-month moving average of the monthly seasonally adjusted rate of housing starts, was 214,647 units in September, up from 212,609 units in August 2020.
Wood Markets News
Mortgage Rates Fractionally Lower in Week Ending October 8th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 8th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.87% with an average 0.8 point, slightly down from last week when it averaged 2.88%.
Toronto Existing Home Sales Hit New Record Level in September
The Toronto Regional Real Estate Board (TRREB) is saying September will be a month they will long remember. A record number of existing homes, 11,083 to be exact, sold in Toronto in September with an average sales prices of $ 960,772.
Transportation Capacity Hits New Lows – No Relief in Sight from Higher Prices
The Logistics Manager’s Index (LMI) for September reveals that transportation capacity are at all time low levels. The LMI, a survey of leading logistics executives, showed capacity fell to new lows in September, dipping another 770 basis points during the month to a reading of 23.8%.
Michigan DNR Selects Mass Timber Construction for New Building in the Upper Peninsula
The Michigan Department of Natural Resources has announced its plans to build a multistory building using mass timber, a construction system that uses large solid or engineered wood columns, beams and panels to create a multistory buildings from renewable materials in the Village of Newberry in Luce County.
Finland Exports of Forestry Industries Goods Decrease -6% in 2019
According to the Natural Resources Institute of Finland (Luke), in 2019, the value of Finland’s exports totaled 65 billion Euro.
August Construction Job Openings Decline
A closer look into the Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS), with an eye towards the construction sector, reveals that the August open position count declined in step with the overall declines being reported in the JOLTS report for the month.
Mortgage Applications Increase 4.6% in Week Ending October 2nd, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 2, 2020, mortgage applications rose 4.6% from the previous week.
The Sale of the Kenora Forest Products Sawmill Sale to 1347 Investors LLC., Completed
According to an October 6th, press release, the sale of the former Kenora Forest Products sawmill, in Kenora, Ontario, Canada has been completed.
Building Code Changes Spark, a Revival in the Construction of Tall Wood Building
Updates and changes in the National Building Code in Canada, allowing for the construction of wood buildings up to 12-storey, is changing how architects, builders and developers thinks about building taller wooden structures.