US lumber prices rebounded toward $500 per thousand board feet, moving away from the eight-month low of $488 observed from June 4th as the latest US data lifted the demand outlook. Softer-than-expected US inflation data, which bolstered expectations for multiple Federal Reserve rate cuts this year, added further optimism for reduced mortgage rates amid a sharp decline in US Treasury yields. Still, housing starts continued to struggle amid high rates and home prices continue to weigh on home builders. Mortgage rates remained above 7% for over two months, while building permits in the US ...
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