Timber has always been a pivotal part of construction, but growing concerns on sustainability and biophilic design use of wood in construction is likely to increase.
Wood Markets News
Domtar Receives FSC Approval on Northwest Ontario Forestland
Domtar is reporting that during the week of July 13th, that they had successfully completed a surveillance audit, under the new Forest Stewardship Council’s National Standards for Canada, on the Wabigoon Forest, located in Northwest Ontario.
Mortgage Loans in Forbearance Decline for the Tenth Week in a Row
The Mortgage Bankers Association (MBA) is reporting the results of their latest Forbearance and Call Volume Survey for the week ending August 16th.
Federal Housing Finance Agency Announces Extension of Moratorium on Foreclosure and Eviction of Borrowers with Fannie Mae and Freddie Mac Backed Loans Until December 31st
The Federal Housing Finance Agency(FHFA) has extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac from the previously announced date of August 31st to December 31st.
As Canadian Government Pandemic Relief Winds Down, Bankers Prepare for Potential Issues
Canadian bank executives are preparing for what is shaping up to be a long and bumpy recovery from the COVID-19 pandemic, which has pushed the Canadian economy into a recession.
U.S. Consumer Spending Increases 1.9% in July
The U.S. Commerce Department is reporting that for the third month in a row U.S. consumer increased their spending.
Federal Reserve Makes Major Change to Inflation Policy
The Federal Reserve has struggled for more than a decade to get inflation up to their 2% target, which they see as consistent with a growing economy and that allows policymakers with enough room for times of economic stress.
The Bureau of Economic Analysis Reports Personal Income Increased $70.5 Billion in July
The Bureau of Economic Analysis (BEA) is reporting that personal income increased $70.5 billion (0.4%) in July.
This Week’s FEA Weekly Order Survey Participants Continue to See Sales Opportunities
Dealers responding to this week’s FEA Weekly Order Survey noted that July’s housing news just seems to be getting better and better. This week, the U.S. Census Bureau reported that July’s new home sales were 13.9% above the revised June 2020 rate and 36.3% above the July 2019 estimate.
Multifamily Construction Starts Increase in Q2 2020
The market share of rental multifamily construction starts increased to 96% during the second quarter of 2020.