Federal Reserve rate stagnation impacts US wood products markets

The ongoing Federal Reserve rate stagnation is having a ripple effect across the US wood products market and the broader economy, affecting everything from homebuying to the lumber industry. Across the country, many would-be homebuyers wait with bated breath for interest rates to make a meaningful drop before they either purchase their next home or their first house. Persistently elevated rates have made it nearly impossible for lower-income mortgage applicants to qualify for financing. Meanwhile, those who purchased or refinanced a loan while record-low interest rates were available are staying put. Federal Reserve Chairman ...