According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 24th July 2020, the Market Composite Index, measure of mortgage loan application volume, decreased -0.8% on a seasonally adjusted basis from one week earlier.
Wood Markets News
Consumer Confidence Index® Declines -5.7 Points in July
After a large increase in June, the Conference Board’s Consumer Confidence Index® declined in July. The Index currently is at 92.6 (1985=100), down from 98.3 in June.
FHA Backed Sales Increase in Second Quarter of 2020
A closer examination of the recently released Quarterly Sales by Price and Financing reported by the U.S. Census Bureau reveals that FHA-Backed sales made up 20.4% of new home sales in the second quarter of 2020.
CoreLogic® Reports Home Price Appreciation Slowed Slightly in May 2020
CoreLogic® has released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2020. The index is reporting that home prices rose 4.5% year-over-year, but were down -0.1% from April’s reported 4.6%.
Belarus Increases Exports of Cut Timber to China
In the first half of 2020, Belarus, working with Bellesexport and the Belarusian Universal Commodity Exchange Team has shipped 9 container trains, or just over 500 containers of cut timber to China.
Canada’s Lack of Log Exports to Japan Could be First Documented Violation of the Trans-Pacific Partnership
In spite of a side deal to the Trans-Pacific Partnership (TPP), intended to ensure stable supply, log exports from Canada to Japan have dropped significantly in recent months.
Fast + Epp’s New 4-Story Mass Timber Hybrid Building Shell Completed in Just 4-weeks
The 4-story mass timber hybrid office building at 7th Ave & Yukon Street, in Vancouver B.C., will be the home of Fast + Epp Engineering Company in late 2020.
Architect Suggests Replacement of Iconic Seattle Bridge Should be a Hybrid Design
The Seattle Department of Transportation (SDOT) is just under 3-months away from deciding what to do with one of Seattle’s most iconic bridges.
TopHat Enters into 5-year Agreement with BoKlok to Build 200 New Affordable Homes in UK
The United Kingdom’s provider of affordable homes BoKlok UK, which is jointly owned by Skanska and Ikea, has announced the appointment of TopHat to construct its first houses in the UK.
Affordability Remains a Stumbling Block to Home Ownership in 2nd Quarter of 2020
A deeper look into the second quarter of 2020’s National Association of Home Builders (NAHB) Housing Trend Report (HTR) reveals that only 23% of prospective buyers can afford at least half of the homes available in the areas they are searching.