The US Federal Reserve decided to hold its key interest rate unchanged as it waits for the Trump administration’s trade policy to take shape and sees its impact, CNBC reported.
Wood Markets News
Mortgage Applications Climb in the Week Ending May 2
Mortgage loan application volume increased 11.0% on a seasonally adjusted basis from one week earlier, MBA reported.
Oregon Legislature Advances New Lumber Grading Certification Program
The bill would establish a program that allowing individuals who complete a one-day training course to become certified to grade lumber, HBS Dealer reported.
Scotland Opens Advanced Timber Frame Construction Facility
Operated by Alexander Timber Design, the £18 million (US$23.9 million) facility brings Glennon Brothers’ total investment in Scotland to more than €80 million (US$106.3 million).
FEA: Clarification on Timing of New US Duties on Canadian Softwood Lumber
FEA’s Paul Jannke offers clarifications around the timing of the US Department of Commerce’s final determinations for the new Canadian softwood lumber duties.
USDA to Invest $23 Million to Boost Timber Production and Reduce Wildfire Risk
The USDA announced $23 million in grants to support transporting hazardous fuels—such as dead or downed trees—from national forests to processing facilities.
US New-Home Prices Fall in Q1 While Existing-Home Prices Rise
The median price for a new single-family home sold in Q1 was $416,900, according to the Census Bureau, NAR, and NAHB.
Canadian Lumber Production Falls 4.8% in February
Canadian lumber production decreased 4.8% in February to 3,686.8 thousand cubic meters. Year-over-year, production was down 15.3%.
Metsä Fibre Starts Negotiations on Possible Layoffs at Its Sawmill in Rauma, Finland
Metsä Fiber will start change negotiations on possible temporary layoffs at its Rauma sawmill and Joutseno and Rauma pulp mills.
Georgia-Pacific Announces Immediate Closure of Its Emporia, VA, Plywood Facility
Normal operations ceased on May 2, and the site will be permanently closed on July 1.