According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI), mortgage credit availability increased in April.
Wood Markets News
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.
Weaker UK Construction Output Drags Down Imports of Construction Materials
UK imports of main product groups are up by just 0.2% for the first two months of 2024 when compared to the same period in 2023, The Construction Index reported.
Metsä Group’s Regenerative Forestry Principles Improve Natural State of Forests
Finnish forest owners have welcomed the measures implementing Metsä Group’s regenerative forestry principles, the company said.
Stimson Lumber Company to Permanently Close Its Plummer, ID, Sawmill
Citing tight operating margins, Stimson Lumber Company intends to permanently close its Plummer, Idaho, sawmill facility by August, The Spokesman Review reported.
Fannie Mae’s Home Purchase Sentiment Index Unchanged in April as Homebuyers Adjust to Higher Mortgage Rates
The Fannie Mae Home Purchase Sentiment Index® was unchanged in April, holding at a reading of 71.9, and is showing signs of plateauing once again.
Rayonier Advanced Materials Announces Sale of Softwood Duty Refund Rights
Rayonier Advanced Materials has reached agreement regarding the sale to OCP Lumber LLC of the company’s softwood duty refund rights.
Georgia’s First Georgia-Grown Mass Timber Project Completed
Georgia’s first Georgia-grown mass timber building utilizing a regional supply chain has been completed, the Woodworking Network reported.
IKEA Announces New Wave of Price Cuts
Ingka Group, the largest IKEA retailer with about 90% of IKEA retail sales, said it continues to lower prices despite a challenging year.
City of Beijing Ends Curbs on Multiple Home Ownership in Outer Areas to Stimulate Buying
The City of Bejing relaxed some rules on multiple home purchases after 13 years to stimulate a stagnant property market, the South China Morning Post reported.