Lumber Prices Retreat as Supply Expands
Lumber prices have retreated from last month's all-time high as sawmills ramp up production, signaling the dizzying pace of new-home price gains could slow.
June 14, 2021 2 MIN
Lumber prices have retreated from last month's all-time high as sawmills ramp up production, signaling the dizzying pace of new-home price gains could slow.
The last time the Fed signaled the end of a bond-buying program, mortgage rates jumped more than a percentage point in the span of two months.
The last time the Fed signaled the end of a bond-buying program, mortgage rates jumped more than a percentage point in the span of two months.
While the Covid-19 pandemic is receding in the U.S., a weak global economy is boosting demand in the bond markets.
To qualify for a mortgage backed by the Veterans Administration, you may need to bump up your credit score.
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A spike in lumber prices has added about $36,000 to the cost of a new home as builders and renovators compete for limited supply from sawmills, NAHB said in a new report.
The average U.S. FICO score rose to a record high in 2020 amid the worst pandemic in more than a century, according to Experian data.
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Mortgage rates ticked higher this week while remaining below the 3% threshold as bond investors worried about rising Covid-19 infections, Freddie Mac said.
