Georgia-Pacific’s Albany, Geogia, sawmill produced its 1 billionth board foot of lumber just four years after the facility opened in 2020.
Wood Markets News
US Pending Home Sales Climb 3.4% in March
The National Association of Realtors Pending Homes Sales Index was 3.4% higher in March, rising to a reading of 78.2.
Fixed-Rate Mortgages Continue to Trend Higher in the Week Ending April 25th
The 30-year fixed-rate mortgage averaged 7.17%, up from last week when it averaged 7.10%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 1.6% in Q1, BEA Reports in Its “Advance” Estimate
GDP increased at an annual rate of 1.6% in Q1, following a reported real GDP increase of 3.4% in 2023Q4.
US Weekly Jobless Claims Decline in the Week Ending April 20th
The advance figure for seasonally adjusted initial unemployment claims was 207,000, a decrease of 5,000 from the previous week.
Canadian Payroll and Job Vacancy Report for February
The number of Canadian employees receiving pay and benefits from their employers fell by 17,700, or 0.1%, in February.
Leading Indicator of Remodeling Activity Shows Home Improvements Spending Declining Through 2025Q1
Annual expenditures for improvements and repairs to owner-occupied homes are projected to decrease this year and into 2025Q1, according to the Joint Center for Housing Studies of Harvard University.
BC’s Deadwood Project: Low-Grade Fiber Converted to Substitute Wood Product
The process converts low-grade timber and low-value lumber into a wood product that can be used as a substitute for lumber and timber in various applications, Canadian Forest Industries reported.
Mortgage Applications Trend Lower as Interest Rates Climb in the Week Ending April 19th
Mortgage loan application volume decreased 2.7% on a seasonally adjusted basis from one week earlier, MBA reported.
BC Working With Communities to Prepare for Wildfire Season
The FireSmart Wildfire Resiliency and Training Summit will bring together hundreds of local and municipal firefighters to collaborate and train with the BC Wildfire Service.