The University of Michigan’s Survey of Consumers revealed that the Index of Consumer Sentiment edged higher to 78.1 (final) in June from 72.3 in May.
Wood Markets News
Mortgage Forbearances Increase after Three Consecutive Weeks of Declines
According to Black Knight, a mortgage data research firm, mortgage forbearances rose this week, after three consecutive weeks of declines.
FEA’s Weekly Order Survey Results Showing Show Steady to Strong Sales
Dealers are reporting another week of steady to strong sales. Some dealers are anticipating that their sales might be a bit slower next week, as builders take a few days off to celebrate the 4th of July holiday.
After Several Months of Being Idle, Mosaic Forest Management Announces Resumption of Operations
Mosaic Forest Management has announced its intention to resume operations, ‘with the priority being on a safe return and with due consideration to provincial health guidelines related to the COVID-19’ pandemic.
CatchMark’s Triple T Joint Venture Amends Wood Supply Agreement with Georgia-Pacific
With the intention of achieving market-based pricing on timber sales, CatchMark, announced on Wednesday 6-24-20, that its Triple T joint venture has amended its wood supply agreement with Georgia-Pacific.
Weekly Jobless Claims Modestly Decline in Week Ending June 20th
The U.S. Department of Labor is reporting that an additional 1.48 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 20th.
Mortgage Rates Hold Steady for Week Ending June 25th
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending June 25th, 2020. The PMMS shows that 30-year fixed-mortgage rate averaged 3.13% with an average 0.8 point, unchanged from last week.
Conifex Timber Inc., to Restart Mackenzie B.C. Sawmill on July 6th
Conifex Timber Inc., announced on Monday, June 22nd, that it intends to restart operations at their Mackenzie, British Columbia sawmill effective Monday July 6th.
British Columbia to Drive Economic Growth and Advance CleanBC program with Focus on Mass Timber Construction
B.C. Premier John Horgan recently announced that the province will focus on mass timber construction in order to bolster the forest products industry.
The Number of Builders Offering Discounts to Increase Sales Dropped 7% in May
A deeper dive into the NAHB/Wells Fargo Housing Market Index report shows that as the COVID-19 stay-in-place orders began to be lifted in May and June, that housing data almost immediately began to rebound.