On December 20, Resolute began a temporary closure of its Maniwaki, Quebec sawmill, CBC News reported. Union officials say the closure is expected to last at least six months.
Wood Markets News
Rayonier Announces Pore Space Agreement With Reliant Carbon Capture & Storage in Alabama
Rayonier entered into an underground pore space easement agreement with an affiliate of Reliant Carbon Capture & Storage covering 104,000 acres in Alabama.
US New Residential Single-Family Home Sales Climb 5.9% in November
New residential single-family home sales for November were at a seasonally adjusted annual rate of 664,000, 5.9% above the revised October rate.
Unifor Members Ratify New Agreement With CN, Averting Strike
Unifor announced on December 22 that its 3,000 members at CN have ratified a four-year collective agreement, averting potential strike action.
Victoria, Australia, Faces Severe Wildfire Threat Amid Heat Wave and Winds
Victoria, Australia’s second-most populous state, braced for potentially devastating wildfires during the holiday week, The Associated Press reported.
US Mortgage Loans in Forbearance Increase for Sixth Consecutive Month in November
As of November 30, the total number of loans in forbearance increased 0.50%, with an estimated 250,000 homeowners in a forbearance plan, MBA reported.
US Mortgage Rates Increase in the Week Ending December 26
The 30-year fixed-rate mortgage averaged 6.85%, up from last week when it averaged 6.72%, Freddie Mac reported.
US Weekly Initial Jobless Claims Drift Lower in the Week Ending December 21
The advance figure for seasonally adjusted initial unemployment claims was 219,000, a decrease of 1,000 from the previous week’s unrevised level.
New Existing-Home Listings Reach Highest Level Since June
New listings of homes increased 7.6% in the four-week period ending December 15th, Redfin reported.
US Personal Income and Outlays for November
Personal income increased 0.3% at a monthly rate in November; disposable personal income increased 0.3%; and personal consumption expenditures 0.4%.