Freddie Mac expects the US economy to continue to cool as consumers adjust their spending in response to higher interest rates.
Wood Markets News
US National Interagency Fire Center Wildfire Update for June 24th
There are currently 16 uncontained, large wildfires being fully suppressed and 19 wildfires being managed under strategies other than full suppression.
Fannie Mae Economic and Strategic Research Group Lowers Expectations for 2024 Home Sales and GDP
Affordability constraints continue to limit the number of buyers willing and able to make home purchases, even as listing of for-sale homes are on the rise, the ESR Group said.
Teamsters Canada to Hold Second Strike Vote for CN and CKPC Rail Workers
The union representing more than 9,000 CN and CKPC rail workers has organized a second strike vote amid stalled contract negotiations, FreightWaves reported.
Median-Income Homebuyers Need $127,750 Down Payment for Affordable Monthly Payments on Typical US Home, Zillow Reports
To comfortably afford a typical US home, a home buyer making the median income needs to put down nearly $127,750, according to Zillow.
Canadian Industrial Product and Raw Materials Price Indexes for May
The prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), were unchanged month-over-month in May but were up 1.8% year-over-year.
The Conference Board US Leading Economic Index Continues to Decline in May
The Conference Board Leading Economic Index® decreased 0.5% to a reading of 101.2 in May, following a 0.6% decrease in April.
US Existing-Home Sales Decline in May
Total existing-home sales declined 0.7% in May from April to a seasonally adjusted annual rate of 4.11 million, MBA reported.
US Housing Starts, Building Permits, and Completions All Drop in May
Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000. This is 5.5% below the revised April estimate of 1,352,000.
Tafisa’s Particleboard Facility in Lac-Mégantic, QC, Rocked by Explosion
An explosion occurred on Friday, June 14th at the Tafisa particleboard facility in Lac-Mégantic, Quebec, Woodworking Network reported.