The total number of loans in forbearance as of May 31st was 0.21% of servicers’ portfolio volume, according to the Mortgage Bankers Association.
Wood Markets News
Canadian Consumer Price Index Inches Higher in May
The Canadian Consumer Price Index (CPI) increased 2.9% year-over-year in May, up from a 2.7% gain in April.
Tafisa Provides Update After Explosion at Its Lac-Mégantic, QC, Particleboard Facility
Due to the explosion at a particleboard line on June 14th at Tafisa’s Lac-Mégantic, Quebec, facility, some customers will be impacted and their orders delayed, Woodworking Network reported.
Biden Administration Advances Restrictions on Logging in Old-Growth Forests
The plan would restrict logging within old-growth forests that are increasingly threatened by climate change, with exceptions that include cutting trees to make forests less susceptible to wildfires, AP reported.
Timberlab’s South Carolina Mass Timber Production Facility Reaches Full Capacity
Timberlab’s facility in Piedmont, South Carolina, has reached full capacity, according to GSA Business Report.
BTG Pactual TIG and Microsoft Execute Largest Known Carbon Credit Deal
Under the terms of the agreement, TIG will provide Microsoft with up to 8 million nature-based carbon removal credits through 2043.
Freddie Mac’s US Economic, Housing, and Mortgage Market Outlook for June
Freddie Mac expects the US economy to continue to cool as consumers adjust their spending in response to higher interest rates.
US National Interagency Fire Center Wildfire Update for June 24th
There are currently 16 uncontained, large wildfires being fully suppressed and 19 wildfires being managed under strategies other than full suppression.
Fannie Mae Economic and Strategic Research Group Lowers Expectations for 2024 Home Sales and GDP
Affordability constraints continue to limit the number of buyers willing and able to make home purchases, even as listing of for-sale homes are on the rise, the ESR Group said.
Teamsters Canada to Hold Second Strike Vote for CN and CKPC Rail Workers
The union representing more than 9,000 CN and CKPC rail workers has organized a second strike vote amid stalled contract negotiations, FreightWaves reported.