The Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey for the week ending July 19th, is reporting that the total number of loans in forbearance declined by 6 basis points from 7.80% of servicers’ portfolio volume in the prior week to 7.74%.
Wood Markets News
Pending Homes Sales Increase 16.6% in June
The National Association of Realtors® (NAR) is reporting that their Pending Homes Sales Index (PHSI) for June increased 16.6%, to a reading of 116.1. Year-over-year, contract signings rose 6.3%.
U.S. Census Bureau Reports Homeownership Gains in Housing Vacancy Survey for Q-2 2020
The most recent U.S. Census Bureau 2020 Housing Vacancy Survey (CPS/HVS) is reporting homeownership gains, particularly of households headed by adults, 35 and younger, increased appreciably in the second quarter of 2020.
Mortgage Applications Decline in Week Ending July 24th 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 24th July 2020, the Market Composite Index, measure of mortgage loan application volume, decreased -0.8% on a seasonally adjusted basis from one week earlier.
Consumer Confidence Index® Declines -5.7 Points in July
After a large increase in June, the Conference Board’s Consumer Confidence Index® declined in July. The Index currently is at 92.6 (1985=100), down from 98.3 in June.
FHA Backed Sales Increase in Second Quarter of 2020
A closer examination of the recently released Quarterly Sales by Price and Financing reported by the U.S. Census Bureau reveals that FHA-Backed sales made up 20.4% of new home sales in the second quarter of 2020.
CoreLogic® Reports Home Price Appreciation Slowed Slightly in May 2020
CoreLogic® has released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2020. The index is reporting that home prices rose 4.5% year-over-year, but were down -0.1% from April’s reported 4.6%.
Belarus Increases Exports of Cut Timber to China
In the first half of 2020, Belarus, working with Bellesexport and the Belarusian Universal Commodity Exchange Team has shipped 9 container trains, or just over 500 containers of cut timber to China.
Canada’s Lack of Log Exports to Japan Could be First Documented Violation of the Trans-Pacific Partnership
In spite of a side deal to the Trans-Pacific Partnership (TPP), intended to ensure stable supply, log exports from Canada to Japan have dropped significantly in recent months.
Fast + Epp’s New 4-Story Mass Timber Hybrid Building Shell Completed in Just 4-weeks
The 4-story mass timber hybrid office building at 7th Ave & Yukon Street, in Vancouver B.C., will be the home of Fast + Epp Engineering Company in late 2020.