Washington state awarded $250,000 to Mercer Mass Timber to support its Spokane Valley expansion, complementing $30 million in private investment, The Journal of Business reported.
Wood Markets News
US Mortgage Rates Fall to Lowest Level in Over a Year
The 30-year fixed-rate mortgage averaged 6.19%, down from 6.27% the previous week and the lowest level in more than a year, Freddie Mac reported.
Shortages Push German Timber Prices to 35-Year High
German log prices have reached a 35-year high amid shortages, as sawmills warn of an “existential crisis” and experts call for increased harvesting, BR24 reported.
US Existing-Home Sales Rise in September
Existing-home sales rose 1.5% in September to 4.06 million units (SAAR), up 4.1% from a year earlier, NAR reported.
Oregon’s Tallest Mass Timber Tower Opens in Downtown Portland
Portland’s new Julia West House, Oregon’s tallest mass timber tower at 144 feet, provides 90 affordable apartments, Global Construction Review reported.
Southern Legislative Leaders Urge Congress to Support Forestry Sector Amid Tariffs
Southern state legislative leaders have asked Congress to address tariff and trade barriers affecting the forestry sector, The Arkansas Times reported.
EU Proposes Delaying EUDR for Small Operators Only
The EU proposes delaying its anti-deforestation regulation (EUDR) for small and micro operators only, while larger firms remain bound by the 2025 start date, Euractiv reported.
Thébault to Open France’s First Industrial-Scale LVL Facility
Thébault Group is investing €100 million to launch France’s first industrial-scale LVL facility in Haute-Loire in late 2025, expanding into engineered wood production.
US Mortgage Applications Fall in the Week Ending October 17
Mortgage loan application volume fell 0.3% in the week ending October 17, marking the fourth straight weekly decline, MBA reported.
Leading UK Sawmill Companies Unite to Promote Domestic Timber Use
BSW Timber, James Jones & Sons, and Glennon Brothers have joined forces to promote UK-grown timber, aiming to boost sustainability and reduce import dependence.