The 30-year fixed-rate mortgage averaged 6.78%, down from last week when it averaged 6.79%, Freddie Mac reported.
Wood Markets News
US Producer Price Index for Final Demand Up 2.4% Year-Over-Year in October
The Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending November 9th
The advance figure for seasonally adjusted initial unemployment claims was 217,000, a decrease of 4,000 from the previous week’s unrevised level.
Associated Builders and Contractors Construction Backlog Indicator Falls in October
ABC’s Construction Backlog Indicator fell 0.2 months to 8.4 months in October. The reading is unchanged from October 2023.
US Consumer Price Index Increases 2.6% Year-Over-Year in October
Over the past 12 months, the all-items index has increased 2.6% before seasonal adjustment.
UK Timber Imports Stabilize Through First Eight Months of 2024
Timber imports to the UK have continued to stabilize during 2024, following very similar patterns to those seen in 2023 for the first eight months of the year, TDUK reported.
Mass Timber Affordable Housing Complex Completed in Des Moines, Iowa
A new affordable housing complex built with mass timber officially opened last week in Des Moines, Iowa, We Are Iowa reported.
Mortgage Applications Increase 0.5% in the Week Ending November 8th
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Debt Increases to $5.10 Trillion in Q3
Total outstanding US consumer debt stood at $5.10 trillion for Q3, increasing at a seasonally adjusted annualized rate of 3.28%, the Fed and NAHB reported.
Canadian Government Orders Binding Arbitration to End Port Strikes
Canada’s Labor Minister is intervening to end the work stoppages at ports in both British Columbia and Montreal, CBC News reported.