According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 10th July 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 5.1% on a seasonally adjusted basis from one week earlier.
Wood Markets News
SmartLam Opens Manufacturing Facility in Columbia Falls Mt. at Former Plum Creek Sawmill
SmartLam, the cross-laminated timber (CLT) manufacturer is starting up production at the former Columbia Falls, Montana, facility that Plum Creek Timber Co., and Weyerhaeuser had once called home for more than 50 years.
Despite the COVID-19 Pandemic B.C. Tree Planters on Track to Plant 300 Million Seedlings this Summer
In spite of the COVID-19 pandemic and an exceptionally wet spring and early summer, British Columbia tree planters are on track to plant more that 300 million seedlings this year.
Despite Dire Post COVID Predictions New Zealand Home Prices and Sales Activity Grow in June
The Real Estate Institute of New Zealand is reporting that in spite of the COVID-19 pandemic and the predictions of a decline in housing values and sales, in June housing prices increased nationally 9.2%, while sales volume grew by 7%.
Consumer Price Indices Rise in June
The Bureau of Labor Statistics (BLS) is reporting that after three continuous months of declines, the Consumer Price Index (CPI) and “Core” CPI rose 0.6% in June, on a seasonally adjusted basis, as the U.S. economy reopened.
Over 50% of All Home Sales Involved in a Bidding War in June
According to data from Redfin, the Seattle based real estate brokerage, more than half of the offers for homes on their website were part of a bidding war for the second month in a row in June.
Gross Domestic Product Falls in First Quarter of 2020 in all 50-States and D.C.
The U.S. Bureau of Economic Analysis is reporting that real gross domestic product (GDP) fell in all 50 states and the District of Columbia, in the first quarter of 2020, when compared to the fourth quarter of 2019.
Construction Input Prices Rise in June, with Softwood Lumber up 11%
According to the Associated Builders and Contractors (ABC) analysis of the recently released U.S. Bureau of Labor Statistics (BLS) Producer Price Index (PPI), construction input prices increased 2.2% in June.
Mortgages in Forbearance Drops to 2-Month Low
According to a report released by Black Knight, a provider of integrated data and analytics for the mortgage and home equity lending service, there were 4.14 million mortgages in forbearance for the week ending July 10th.
Lumber Prices Rebound in Second Quarter from the Impact of COVID-19 Pandemic
Barron’s, a leading source of financial news, is reporting, what lumber and building materials dealers across North America clearly know; lumber prices rebounded in the second quarter of 2020.