Business investment and community revitalization projects in the Upper Peninsula will represent more than $5.5 million of capital investment and protect 85 jobs, The Daily News reported.
Wood Markets News
FHFA Home Price Index Increases 4.2% Annually in August
The FHFA Home Price Index increased 0.3% in August. Year-over-year, prices rose 4.2%.
US Census Bureau Residential Vacancies and Homeownership Report for Q3
National vacancy rates in Q3 were 6.9% for rental housing and 1.0% for homeowner housing.
S&P CoreLogic Case-Shiller US National Home Price Index Reports 4.2% Annual Gain in August
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 4.2% in August, down from a 4.8% increase in July.
Higher Mortgage Rates Are Reducing Homebuyers’ Purchasing Power
A homebuyer on a $3,000 monthly budget has lost $33,250 in purchasing power over the last six weeks, with the daily average 30-year fixed mortgage rate rising to 7% on October 28th, Redfin reported.
US Job Openings and Labor Turnover Summary for September
As of the last business day in September, the number of job openings was 7.4 million. Year-over-year, the measure was down 1.9 million. The job openings rate was 4.5%, little changed from 4.8% in August.
US Consumer Confidence Index Rebounds in October
The Conference Board Consumer Confidence Index® (CCI) increased to a reading of 108.7 in October (1985=100), up from an upwardly revised reading of 99.2 in September.
Stora Enso to Acquire Finnish Sawmill Company Junnikkala
Stora Enso announced that it has entered into an agreement to acquire 100% of the Finnish sawmill company Junnikkala Oy.
Fannie Mae Economic and Strategic Research Group Review of Home Sales Data
Existing-home sales were a bit below the ESR Group’s expectations in September. With the revisions, the new sales figure was almost exactly in line with the Group’s forecast for the quarter.
Mississippi State University and Mississippi Lumber Manufacturing Association Partner to Advance Mass Timber Construction
MSU and the Mississippi Lumber Manufacturing Association announced the establishment of the Mississippi Lumber Manufacturers Association Endowed Professorship in Innovative Wood Construction and Design at MSU.