The total value of building permits in Canada increased 9.3% month-over-month to $11.8 billion (CAD) in February. Residential permits increased 7.4% to $7.1 billion.
Wood Markets News
BC’s Wildfire-Damaged Timber Recovery is Underway
BC announced new measures to streamline the use of wildfire-damaged timber and support land recovery.
West Fraser and Lake Babine Nation Sign Joint Development Agreement
Lake Babine Nation’s forestry enterprise has entered into a Joint Development Agreement with West Fraser, The Interior News reported.
Mortgage Applications Rebound in the Week Ending April 5th
The Mortgage Bankers Association Market Composite Index increased 0.1% on a seasonally adjusted basis from one week earlier, ending four consecutive weeks of declines.
Consumer Price Index Increases 0.4% in March; All-Item Index Up 3.5% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in March, seasonally adjusted, following a similar 0.4% increase in February.
US Median Asking Rents Increase for Third Consecutive Month in March
Tthe median US asking rent rose 0.8% year-over-year to $1,987 in March, marking the third consecutive monthly increase, Redfin reported.
Canadian Government Announces C$6 Billion Housing Infrastructure Fund
Canadian Prime Minster Justin Trudeau has announced a $6 billion (CAD) fund to build critical infrastructure, Ontario Construction News reported.
BC and ‘Namgis First Nation Negotiating New Sustainable Forestry Agreement
Negotiations are underway between ‘Namgis First Nation and the province on a joint decision-making agreement to support forest stewardship and sustainable forestry operations.
UK Imports of Softwood and Plywood Decline in January
Timber import volumes in the UK started 2024 down 6%, or about 45,000 m3, year-over-year, Timber Development UK reported.
Mortgage Credit Availability Improves for Third Consecutive Month in March
The Mortgage Bankers Association Mortgage Credit Availability Index increased 1.1% to a reading of 93.9 in March, the third consecutive monthly increase.