The total value of building permits issued in Canada decreased 5.9%, or $739.5 million (CAD), to $11.7 billion in November.
Wood Markets News
Södra Intends to Divest Its Forest Holdings and Other Operations in the Baltics
Södra owns approximately 153,000 hectares (378,000 acres) of land in Estonia and Latvia, the majority of which is in Latvia.
US Nonfarm Payroll Increases by 256,000 in December; Unemployment Holds Steady at 4.1%
Total nonfarm payroll employment increased 256,000 in December, following an increase of 227,000 in November.
University of Michigan Releases Preliminary Consumer Sentiment Index for January
The University of Michigan Index of Consumer Sentiment declined to a reading of 73.2 in January, a month-over-month decline of 1.1%.
Canadian Employment Improves and Unemployment Declines in December
Employment rose 0.4%, or by 91,000 jobs, in December. The employment rate increased 0.2 percentage points to 60.8%.
Canadian Mill Services Association Acquires Quality Control Department of the BC Council of Forest Industries
The Canadian Mill Services Association has completed a purchase agreement with the BC Council of Forest Industries to acquire the COFI Quality Control operations and to merge them into CMSA.
HS Timber Group to Purchase Vika Wood From Bergs Timber
Austria-based HS Timber Group announced an agreement to acquire 100% of the shares in Latvian wood processing company Vika Wood SIA from Swedish owner Bergs Timber AB.
US Mortgage Rates Creep Higher in the Week Ending January 9
The 30-year fixed-rate mortgage averaged 6.93%, up from last week when it averaged 6.91%, Freddie Mac reported.
US Asking Rents Decline in December
The median US asking rent fell 0.3% year-over-year to $1,594 in December, the lowest level since March 2022, Redfin reported. On a monthly basis, rents were down 0.1%.
US Mortgage Credit Availability Increases in December
The MBA Mortgage Credit Availability Index increased 0.7% to a reading of 96.6 in December.