Mortgage applications for new-home purchases increased 22.1% month-over-month and 2.0% year-over-year, MBA reported.
Wood Markets News
NFIB Small Business Optimism Index Inches Higher in April, but Remains Below 50-Year Average
The NFIB Small Business Optimism Index increased 1.2 points in April to a reading of 89.7, the first increase of 2024 but the 28th consecutive month below the 50-year average.
Teal Jones-Plain Dealing Sawmill in Louisiana Unaffected by Teal Jones Group Filing for Creditor Protection in BC
Teal Jones-Plain Dealing, LLC explained that the decision by Teal Jones Group to file for creditor protection in BC does not include the US-based Teal Jones Sawmill in Plain Dealing, LA.
Value of Canadian Building Permits Declines in March
The total value of building permits in Canada declined 11.7% month-over-month to $10.5 million (CAD) in March.
US Land Acquisition, Development, and Construction Financing Costs Increase in Q1
Land acquisition, development, and construction (AD&C) financing tightened slightly and remained costly during Q1, NAHB reported.
US Forest Service Plans Six Prescribed Fires in Boise, ID, Area Starting This Week
Boise National Forest fire managers plan six prescribed fires totaling 1,354 acres starting this week, the Capital Press reported.
US National Interagency Fire Center Wildfire Update for the Week Ending May 10th
The number of active large fires (not including individual fires within complexes) stands at 6. Currently, there are 8,965 acres actively involved in fires.
BC Government Helps Tolko Industries Expand Its Heffley Creek Operation
BC announced up to $8 million (CAD) to help Tolko expand its Heffley Creek operation, including construction of a facility to house a new Heffley Creek Engineered Wood Division.
Canadian Government Takes Steps to Delay Start of Possible Railroad Strike
Citing potential safety concerns, the Canadian government is moving to push back the start of a possible strike by railway workers at CN and CPKC, which could start as early as May 22nd, Reuters reported.
Canadian Wildfire Season Off a to Slower Start Than 2023, but Risk From Drought Remains High
The start of wildfire season in Canada has been far less intense than it was last year, but the risk of hot, dry weather and severe fires remains high, The Canadian Press reported.