Delinquency rates overall for mortgages backed by commercial properties were unchanged in Q1, the MBA reported.
Wood Markets News
US Weekly Jobless Claims Unchanged in the Week Ending April 13th
The advance figure for seasonally adjusted initial unemployment claims was 212,000, unchanged from the previous week’s revised level.
Western Forest Products Announces Indefinite Curtailment of Its Alberni Pacific Division
Western announced the indefinite curtailment of its sawmill in Port Alberni, BC. The mill has been temporarily curtailed since fall 2022.
US Median Monthly Housing Payment Reaches All-Time High
The median monthly housing payment hit an all-time high of $2,747 during the four-week period ending April 7th, Redfin reported.
Fannie Mae Home Price Index Moves Higher Quarter-Over-Quarter and Year-Over-Year in Q1
The Fannie Mae Home Price Index increased 7.4% year-over-year in Q1, up from 6.6% in 2023Q4.
Mortgage Applications Increase in the Week Ending April 12th
Mortgage loan application volume increased 3.3% on a seasonally adjusted basis from one week earlier, the MBA reported.
Mercer Mass Timber to Provide Mass Timber for the Theodore Roosevelt Presidential Library
Mercer Mass Timber has been selected to provide mass timber for the Theodore Roosevelt Presidential Library located in North Dakota.
US Housing Starts, Building Permits, and Completions All Decline in March
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,321,000. This is 14.7% below the revised February estimate of 1,549,000.
Canadian Housing Starts Decline in March
The monthly seasonally adjusted annual rate of housing starts in Canada declined 7% to 242,195 units in March, down from 260,047 in February.
BC Government Celebrates the Planting of 10-Billionth Tree in Its Reforestation Program
BC is celebrating the 10 billionth tree planted since reforestation programs began in 1930, with two billion those trees planted in the past seven years.