An investigation published by Notes from Poland shows Belarus is circumventing EU sanctions by exporting timber into the bloc through Poland using false documentation suggesting it is from Kazakhstan.
Wood Markets News
US Fixed-Rate Mortgages Inch Lower in the Week Ending March 28th
The 30-year fixed-rate mortgage averaged 6.79%, down from last week when it averaged 6.87%, Freddie Mac reported.
US Weekly Jobless Claims Decline in the Week Ending March 23rd
The advance figure for seasonally adjusted initial claims was 210,000 during the week ending March 23rd, a decrease of 2,000.
US Real GDP Increases at an Annual Rate of 3.4% in 2023Q4, BEA Reports in Its “Third” and Final Estimate
Real GDP increased at an annual rate of 3.4% in Q4, following a reported increase of 4.9% in Q3.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for March
The University of Michigan’s Index of Consumer Sentiment rose to a reading of 79.4, up from 76.9 in February.
Logistical Nightmare Unfolds After Collapse of Maryland’s Francis Scott Key Bridge
On Tuesday, Maryland’s Francis Scott Key Bridge collapsed after it was struck by a cargo ship. The disaster has blocked the Port of Baltimore.
Quebec Earmarks C$8.5 Million for Salvage of Storm-Damaged Timber in Bas-Saint-Laurent Region
The investment of $8.5 million over two years will make it possible to recover wood toppled by strong winds before it deteriorates.
EU’s Nature Restoration Plan Put on Indefinite Hold
A major European Union plan to better protect nature in the 27-nation bloc and fight climate change was indefinitely postponed on Monday, The Associated Press reported.
Canada Mortgage and Housing Corporation Releases 2023 New Home Construction Recap
According to CMHC, new-home construction in Canada’s 6 largest census metropolitan areas recorded 137,915 housing starts in 2023.
Mortgage Applications Slip in the Week Ending March 22nd
Mortgage loan application volume declined 0.7% on a seasonally adjusted basis from one week earlier, the MBA reported.