The 30-year fixed-rate mortgage averaged 6.27%, down from 6.30% the previous week, Freddie Mac reported.
Wood Markets News
Canadian Existing-Home Sales Edge Down in September
Canadian existing-home sales slipped 1.7% in September, ending a five-month streak of gains, CREA reported.
Drax to Cease Operations at Two Arkansas Pellet Plants
Drax will idle pellet plants in Leola and Russellville, Arkansas, on November 1, but it will maintain wood fiber purchases from state suppliers.
Van Urban Timber Obtains Approval to Expand Squamish, BC, Sawmill Operations
Squamish city council approved Van Urban Timber’s plan to replace its existing sawmill with a larger facility, expanding operations in the Business Park.
ABC Construction Backlog Indicator Holds Steady in September
ABC’s Construction Backlog Indicator held at 8.5 months in September, with confidence steady as public-sector and data center work offset private weakness.
US Mortgage Applications Fall in the Week Ending October 10
Mortgage loan application volume fell 1.8% on a seasonally adjusted basis, MBA reported, marking the third straight weekly decline.
Ontario, Toronto, and Habitat for Humanity Partner to Build 33 Modular Homes
Ontario, Toronto, and Habitat GTA will build 33 modular homes on a surplus site, with sales early next year and occupancy by mid 2027. Ontario will invest CA$10 million.
Rayonier and PotlatchDeltic Agree to Merge in All-Stock Deal
The merger combines approximately 4.2 million acres of timberlands and seven wood products facilities, including six lumber mills and one industrial plywood mill.
Nature Conservancy of Canada Acquires 37,000 Hectares in BC From Doman
The Nature Conservancy of Canada has acquired 37,000 hectares in BC’s Elk Valley from Doman Building Materials Group, completing a 45,000-hectare conservation project.
US Custom Single-Family Home Share Declines Again in 2024
Custom homes made up 17.5% of US single-family starts in 2024, down from 18.8% in 2023, the Census Bureau and NAHB reported.