According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending November 20th, 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.9% on a seasonally adjusted basis from one week earlier.
Wood Markets News
The Federal Housing Finance Agency Announces New Higher Maximum Conforming Loan Limits in 2021 for Fannie Mae and Freddie Mac Mortgages
The Federal Housing Finance Agency (FHFA) announced on Tuesday (11/24) that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit (CLL) for single-unit properties will be $548,250, an increase from the 2020 CLL of $510,400.
US Department of Commerce Announces New Antidumping and Countervailing Duty Rates
US Department of Commerce releases final determination for the first administrative review in antidumping duty and countervailing duty investigations.
Factory_OS Attracts Investments for Offsite Construction Facility from Technology and Investment Firms
Factory_OS receives $55 million from variety of technology and investment firms.
Stora Enso Receives Approval to Produce Cross Laminated Timbers for US Market
Stora Enso receives approval to sale CLT panels produced in it’s Austrian mill to the US.
Home Prices Jump 7% Higher in September According to Latest S&P CoreLogic Case-Shiller Report
Home prices jump higher due to stronger demand from buyers seeking more space due to coronavirus pandemic.
Townhouse Construction Declines Further in Q3 2020
Analysis provided by the National Association of Home Builders (NAHB) reveals that townhouse construction continues to decline.
The Wildfires in Oregon are Out but the Losses and Costs Continue to Mount
The Oregon timber industry is made up of small and large companies and they are still in the process of totaling up their losses from the 2020 wildfire season. No one has a real number yet, but one thing is for certain, between timber, equipment and lost jobs the losses are going to be large . . . very large.
Ireland’s Largest Pallet Manufacturer CJ Sheeran Ltd. Buys Coolrain Sawmill Ltd
CJ Sheeran Ltd has announced that they have acquired Coolrain Sawmill Ltd. The facilities are less than 10km apart from each other in County Laois, with one located in Mountrath and the other in Coolrain.
COVID-19 Pandemic Proves to be a Catalyst for Home Improvement
The COVID-19 pandemic has altered how many Americans work and go to school. Instead of large office complexes and classrooms, many Americans continue to work and receive educational instruction from their homes.