According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending September 11th, 2020, the Market Composite Index decreased -2.5% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Builders Confidence Hits All-Time Record High in September
The latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly-built single-family homes increased 5-points to a reading of 83 in September.
Oregon Wildfires Are Negatively Impacting the State’s Forestland and Timber Industry
assive statewide wildfires continue to ravage Oregon’s forestlands and their timber industry as well.
Drone Video Shows the Extent of Damage to the Vernon Parish Unit of the Kisatchie National Forest
The U.S. Forest Service has conducted drone video surveillance of the Vernon unit of the Kisatchie National Forest, located in Vernon Parish, Louisiana, that was severely damaged by Hurricane Laura.
Element5’s New CLT Plant in St. Thomas Ontario Canada Nearing Completion
St. Thomas, Ontario, Canada, is about to become home of Element5 Company’s new $50 million cross-laminated timber (CLT) manufacturing plant.
Japan’s Plywood Imports Declined Steadily in First Half of 2020
As reported by the International Tropical Timber Organization (ITTO), Japan’s plywood imports for the first half of 2020 have steadily declined.
U.S. Census Bureau Reports Year-Over-Year Single-Family Permits Issued up 5.8%
According to the U.S. Census Bureau, total single-family permits issued for the first seven months of 2020, nationwide totaled 525,623.
Home Building Geography Index Reports Multifamily Construction is Also Shifting to Suburbs/Exurbs
The National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) is reporting a significant shift in multifamily construction to the suburbs/exurbs in Q2 of 2020.
Weyerhaeuser Company Announces Immediate Donation to Red Cross for Wildfire Relief
Weyerhaeuser Company announced on Monday (9/14) that the company is making an immediate donation of $ 150,000 to the Red Cross to support emergency response efforts in communities affected by wildfire in the Pacific Northwest and particularly in Oregon.
Interfor Corp., to Sell Gilchrist Oregon Specialty Sawmill to Neiman Enterprises
Interfor Corporation announced on Monday (9/14) that it has reached an agreement to sell its specialty sawmill located in Gilchrist, Oregon to Neiman Enterprises Inc., of Hulett Wyoming.