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.
Wood Markets News
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.
Mortgages Loans in Forbearance Drops for First Time Since March
According to the latestMBA Forbearance and Call volume survey, the total number of loans now in forbearance decreased from 8.55% of servicers’ portfolio volume in the prior week to 8.48% as of June 14, 2020.
Mortgage Applications Slide Lower in Week Ending June 19th 2020
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 19th, 2020, the Market Composite Index decreased -8.7% on a seasonally adjusted basis from one week earlier.
U.S. Home Prices Increase 0.2% in April 2020
The Federal Housing Finance Agency (FHFA), Home Price Index (HPI) reports that U.S. house prices rose in April, 0.2% from the previous month.
The Segezha Group’s Vyatka plywood mill in Kirov, Russia Experiences Production Quality Improvements
The Segezha Group’s Vyatka plywood mill in Kirov, Russia was experiencing a critical defect on the high-grade veneer the plant was producing.