According to CoreLogic, an Irvine California based corporation that provides financial, property and consumer information, analytics and business intelligence, the U.S. could be heading towards a foreclosure crisis, due to a reported surge in June in the number of mortgages that are 90 days or more past due.
Wood Markets News
Mortgage Loan Standards Rise in August to the Tightest Levels in More Than Six Years
The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, is reporting that mortgage credit availability decreased in August, to the tightest level in more than six years.
Construction Time on Multifamily Buildings, from Authorization to Completion, Expands Again in 2019 US Census Bureau Survey
According to the U.S. Census Bureau’s 2019 Survey of Construction (SOC), the ongoing shortage of skilled labor and ever expanding regulatory challenges, some of which are in place to slow the spread of the coronavirus has pushed the average length of time to complete the construction of a multifamily from obtaining local authorization to completion to an average of 17.3 months.
Consumer Price Index Moves Higher in August
The Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) and the ‘core’ CPI both continued to increase in August.
The National Fire Protection Association Adopts Tall Mass Timber Provisions
The National Fire Protection Association (NFPA) has announced allowances for larger and taller mass timber buildings in accordance with NFPA 5000 Building Construction and Safety Code® and, where applicable, NFPA 101 Life Safety Code®.
The Lull in Sales Continues According to FEA’s Weekly Order Survey Participants
Dealers responding to the FEA Weekly Order Survey continue to report slower, but still steady sales. However, for the third week in a row, and this includes the Labor Day holiday, sales have not been as strong as in the preceding week.
Stora Enso to Invest 79 million €, in New Cross Laminated Timber Production Line at Zdirec Sawmill.
Stora Enso has announced that they are making a 79 million € investment in a new production line for cross laminated timber (CLT) at their Zdirec sawmill in the Czech Republic.
Due to Wildfires Washington State’s DNR Closes all Lands East of the Cascades to Reactional Use
The Washington State Department of Natural Resources (DNR) is closing, effective immediately, all of the lands it manages east of the Cascades to recreation due to high fire danger.
Northeast Lumber Manufactures Association (NELMA) Releases Updated Standard Grading Rules Book
The Northeastern Lumber Manufacturers Association (NELMA) has released an updated Standard Grading Rules for Northeast Lumber book.
Canadian Home Starts Increase in August
According to Canada Mortgage and Housing Corporation (CMHC) the trend in housing starts in Canada in August were at 213.144 units, up from 204,597 in July.