The 30-year fixed-rate mortgage averaged 6.84%, down from last week when it averaged 6.85%, Freddie Mac reported.
Wood Markets News
US Producer Price Index for Final Demand Increases in May
The PPI for final demand, seasonally adjusted, increased 0.1% in May. On an unadjusted basis, the index rose 2.6% year-over-year.
Port of Portland Approves Long-Term Lease With Zaugg Timber Solutions
The Port of Portland in Oregon has approved a long-term ground lease with ZAUGG Timber Solutions to build and operate a new mass timber modular factory at the port.
US Weekly Initial Jobless Claims Increase in the Week Ending June 7
The advance figure for seasonally adjusted initial unemployment claims was 248,000, unchanged from the previous week’s revised total.
Value of Canadian Building Permits Declines 6.6% in April
The total value of building permits issued in Canada decreased by 6.6%, or CA$829.6 million, to $11.7 billion in April.
US Mortgage Applications Climb in the Week Ending June 6
Mortgage loan application volume increased 12.5% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Price Index Rises 2.4% Year-Over-Year in May
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in May on a seasonally adjusted basis, following a 0.2% increase in April.
IWPA and Vietnam Officials Meet in DC to Advance Sustainable Wood Products Trade
The International Wood Products Association met with a delegation from Vietnam to discuss sustainable wood product trade, Woodworking Network reported.
EU Imposes Up to 62.4% Provisional Antidumping Duties on Chinese Hardwood Plywood
The EU imposed provisional antidumping duties of up to 62.4% on Chinese hardwood plywood imports, the Timber Trades Journal reported.
Western Forest Products to Reduce Production and Staffing at Its Chemainus, BC, Sawmill
Citing a shortage of viable logs, Western Forest Products is reducing production and staffing at its Chemainus Sawmill starting this month, My Coast Now reported.