Amendment 358 to the National Defense Authorization Act (NDAA) for Fiscal Year 2021, is being lauded by the American Wood Council (AWC).
Wood Markets News
Russian Sawn Wood Exports Down -9.8% Year-On-Year for the Period of January – May 2020
According to data provided by the RF Federal Customs Services, Russia’s exports of sawn goods were down -9.8% year-on-year for the period of January – May 2020.
Housing Availability Shows Modest Signs of Improvement in Latest Housing Trend Report
The National Association of Home Builders (NAHB) latest Housing Trend Report (HTR) reveals that overall buyers anticipate that it might be slightly easier to find and buy a home in the second half of 2020.
Weekly Jobless Claims Climb Higher in the Week Ending July 18th Streak of 15 Weeks of Declines Ends
The U.S. Department of Labor is reporting that an additional 1.416 million Americans made their initial filing for unemployment benefits during the week ending on Saturday, July 18th.
U.S. Commerce Enforcement and Compliance Division adding 60 Additional Days onto All Antidumping and Countervailing Duty Reviews
Deadline for all antidumping (AD) and countervailing duty (CVD) administrative reviews pushed back 60 days, which will delay the anticipated duty adjustments on Canadian softwood lumber entering the U.S.
B.C. Sawmills High Operating Costs Slows Province and Industry Recovery
The British Columbia forest industry was deteriorating prior to the COVID-19 pandemic. Since mid-2019, B.C. has experienced a disproportionately high number of sawmill closures and curtailments compared with other states and provinces.
Existing-Home Sales Rise 20.7% in June
The National Association of Realtors® (NAR) is reporting that total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 20.7% from May to a seasonally adjusted annual rate of 4.72 million in June.
U.S. Home Prices Decline -0.3% in May 2020
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices decline in May by -0.3% from the previous month. Year-over-year, house prices are 4.9% higher, (May 2019 to May 2020).
Mortgage Applications Trend Higher in Week Ending July 17th 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 17th July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 4.1% on a seasonally adjusted basis from one week earlier.
Mortgage Loans in Forbearance Decrease for Fifth Week in a Row
The Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey for July 20th, reports that the total number of loans now in forbearance decreased by 38-basis points from 8.18% of servicers’ portfolio volume in the prior week to 7.80% as of July 12th, 2020.