According to ITTO, the impact of the COVID-19 pandemic on the European plywood markets has proven to be less severe than the originally feared.
Wood Markets News
Brazilian Exports of Wood-Based Products Decline 13.5% in May
According to the International Tropical Timber Organization the value of Brazilian exports of wood-based products (except pulp and paper) dropped 13.5% in May to $236.3 million, when compared to May 2019 , $ 273.3 million.
Federal Housing Finance Agency Announces Extension of Forbearance for Multifamily Property Owners
The FHFA has announced that both Fannie Mae and Freddie Mac are going to be allowing services to extend forbearance for multifamily property owners with existing forbearance agreement for up to three additional months, totaling forbearance up to six months.
Mortgage Rates Hit Lowest Level Since 1971, for the Week Ending July 2nd
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 2nd July 2020.
FEA’s Weekly Orders Survey – Dealers Continue to Report Robust Jobsite Activity
Dealers continue to report strong sales to their contractor customers jobsites but noted that deliveries for Friday were a bit on the light side.
Connects Forest Health and New Construction Technologies
A recent webinar hosted by Grow Smart Rhode Island considered the connection and correlation between forest health and new wood-construction technologies in a combination that can significantly reduce carbon emissions.
Year-Over-Year Total Nonfarm Employment Increased in June
According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 4.8 million jobs in June and the unemployment rate has dropped to 11.1%.
Weekly Jobless Claims Modestly Decline for Week Ending June 27th
The U.S. Department of Labor is reporting that an additional 1.427 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 27th.
ADP National Employment Report® – Private Sector Employment Increased Between May and June
According to the ADP National Employment Report®, private sector employment increased by 2,369,00 jobs from May to June.
Mortgage Applications Decline in Week Ending June 26th 2020
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 26th, 2020, the Market Composite Index decreased -1.8% on a seasonally adjusted basis from one week earlier.