The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%, Freddie Mac reported.
Wood Markets News
US Mortgage Delinquency Rate Up Quarter-Over-Quarter and Year-Over-Year
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.94% of all loans outstanding at the end of Q1, MBA reported.
US Weekly Jobless Claims Decline in the Week Ending May 11th
The advance figure for seasonally adjusted initial unemployment claims was 222,000, a decrease of 10,000 from the previous week.
US Forest Service to Invest $74 Million in Wood Products Innovation, Energy, and Capacity
The Forest Service is investing $74 million to spark innovation, create new markets for wood products and renewable wood energy, and increase the capacity of wood processing facilities.
Western Canadian Provinces Already Dealing With Onset of Out-of-Control Wildfires
Firefighters in western Canada are in the process of battling the first major wildfires of 2024, Reuters reported.
Consumer Price Index Increases 0.3% in April; All-Items Index Up 3.4% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis, following a 0.4% increase in March.
US Builder Confidence Drops in May
The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 6 points in May.
Mortgage Applications Rise in the Week Ending May 10th—Second Consecutive Increase
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Existing-Home Sales Decline Month-Over-Month in April, but Listings Increase
Home sales recorded over Canadian MLS® Systems declined 1.7% between March and April, coming in a little below the 10-year average, CREA reported.
Domain Timber Advisors Aquires Five New Assets Totaling 5,800 Acres for Its Forestland Portfolio
Domain Capital Group and its subsidiary Domain Timber Advisors announced the acquisitions of five new assets totaling 5,800 acres on behalf of its forestland portfolio.