The U.S. Department of Labor is reporting that an additional 1.508 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 13th.
Wood Markets News
Mortgage Rates Drop to a New Record Low
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending June 18th, 2020.
HUD Extends Foreclosure and Eviction Moratorium Through August 31st 2020
The HUD announced on Wednesday (6/17) that the Federal Housing Administration is providing a two-month extension of its foreclosure and eviction moratorium through August 31st, 2020.
Canfor Announces Vida Group, a Subsidiary, to Acquire 3 Sawmills from Bergs Timber in Sweden
Canfor Corporation announced on Wednesday 6-17, Vida Group, has entered into an agreement to purchase three sawmills located in Sweden from Bergs Timber for a purchase price of CAD$43 million plus working capital.
Ravi Kahlon to Lead British Columbia’s Expansion of Mass Timber Usage
John Hogan, in a call with representatives of COFI announced the appointment of Ravi Kahlon, to lead the expansion and use of mass timber in B.C. buildings.
Georgia Legislature Takes Steps to Allow Mid-Rise Buildings Constructed of Mass Timbers
The Georgia Assembly on Tuesday (6/16) cleared the way for builders and developers to construct mid-rise buildings built mostly of wood.
May Housing Starts & Strong Building Permits Point to Better Building Times Ahead
The U.S. Census Bureau is reporting that Privately-owned housing starts in May were at a seasonally adjusted annual rate of 974,000.
Mortgage Applications Increase in Week Ending June 12th 2020
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 12th, 2020, the Market Composite Index, increased 8.0% on a seasonally adjusted basis from one week earlier.
Canadian and American Wood Councils Jointly Release Updates for 6 Environmental Product Declarations for North American Wood Products
The Canadian Wood Council (CWC) and American Wood Council (AWC) have jointly released updates for six environmental product declarations (EPDS) for North American wood products.
Fannie Mae’s Latest Forecast Anticipates Record Breaking Low Mortgage Rates to Decline Further
According to the latest Fannie Mae forecast, which was released on Monday June 15th, the lowest mortgage rates on record are about to be moving even lower.