Mortgage applications for new-home purchases increased 1.0% month-over-month and 13.8% year-over-year, MBA reported.
Wood Markets News
Canada’s Mass Timber Roadmap Unveiled at Parliament Hill
The comprehensive report outlines an ambitious and strategic vision for the future of mass timber in Canada and its potential to transform green construction and drive economic growth across the country.
US Producer Price Index for Final Demand Declines 0.2% Month-Over-Month in May
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.2% in May. This follows a 0.5% increase in April and a 0.1% decline in March.
US Weekly Jobless Claims Move Higher in the Week Ending June 8th
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 13,000 from the previous week.
Aspen Planer Group Announces Temporary Closure of Its Merritt, BC, Operation
Aspen Planer Group has temporarily shuttered in Merritt, BC, operations due to what AP Group Executive Vice President Bruce Rose calls “market realties,” Castanet reported.
Consumer Price Index Unchanged in May; All-Item Index Up 3.3% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, following a 0.3% increase in April and 0.4% increases in both March and February.
Canadian Council of Forest Ministers Releases Its Canadian Wildland Fire Prevention and Mitigation Strategy
On June 5th, the Canadian Council of Forest Ministers (CCFM) released its Canadian Wildland Fire Prevention and Mitigation Strategy.
Number of Existing Homes on the Market for Over 30-Days Continues to Grow
61.9% of homes for sale in May had been listed for at least 30 days without going under contract, Redfin reported. That is up 60% from one year earlier and approximately 50% from two years earlier.
Mortgage Applications Increase in the Week Ending June 7th
Mortgage loan application volume increased 15.6% on a seasonally adjusted basis from one week earlier, MBA reported.
Vancouver City Council Approves Changes to Building Bylaws Permitting 18-Story Mass Timber Buildings
The Vancouver, BC, City Council amended its building bylaw raising the allowable height of mass-timber buildings to 18 stories in keeping with changes to BC’s building code introduced in April, The Vancouver Sun reported.