During the four-week period ending May 5th, the US median monthly housing payment hit an all-time high of $2,894, Redfin reported.
Wood Markets News
Confidence in the US Market for New Multifamily Declines Year-Over-Year in Q1
The National Association of Home Builders Multifamily Market Survey shows confidence in the market for new multifamily housing declined year-over-year in Q1.
US Commercial and Multifamily Mortgage Loan Originations Fall 23% in 2024Q1 From 2024Q4
Commercial and multifamily mortgage loan originations in Q1 were basically unchanged year-over-year but were down 23% when compared to 2023Q4, MBA reported.
US Weekly Jobless Claims Increase in the Week Ending May 4th
The advance figure for seasonally adjusted initial claims was 231,000 during the week ending May 4th, an increase of 22,000 from the previous week.
NAFTA Panel Issues Ruling on 2015–16 Countervailing Duties
On May 6th, a NAFTA Panel largely upheld US countervailing duties on Canadian softwood lumber products but remanded several aspects of the investigation for clarification and potential adjustments.
US Dept. of Commerce Revises 2015–16 Antidumping Duties in Response to NAFTA Panel Ruling
On April 30th, the US Department of Commerce issued a redetermination of its antidumping duties for certain softwood lumber products from Canada.
Teal Jones Group Reaches Interim Financing Deal; Restarting Operations
Teal Jones Group has reached an interim financing deal that will allow it to restart operations and continue to reorganize its business under court protection from its creditors, The Vancouver Sun reported.
Mortgage Applications Increase in the Week Ending May 3rd
Mortgage loan application volume increased 2.6% on a seasonally adjusted basis from one week earlier, MBA reported.
MBA Mortgage Credit Availability Index Increases for the Fourth Consecutive Month in April
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI), mortgage credit availability increased in April.
South Korea Updates Regulations: New Opportunities for Wooden Multi-Family Residential Building
South Korea has announced a major change to construction regulations that will facilitate the use of wood in multi-family building, Canada Wood Group reported.