North American lumber prices fell Wednesday as US mortgage rates hit the highest level in 14 years, pulling back from an earlier rally amid fears of a possible rail strike. Data from the Mortgage Bankers Association showed that the rate on a 30-year fixed mortgage jumped to 6.01% for the week ending September 9, up 7 basis points from a week ago. The latest rate is the highest for a fixed mortgage since 2008, when the US was contending with the Great Recession after the housing ...
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