Lumber futures are coming under pressure as the housing market gets more restrictive for new buyers. Lumber prices remain subdued below critical support at $1,000 per thousand board feet. Mortgage rates surged above the 5% level on Tuesday for the first time in years. Lumber futures are struggling to reclaim a crucial support level as the housing market gets more restrictive for first time home buyers thanks to surging mortgage rates. Lumber prices per thousand board feet fell 1.5% on Tuesday, remaining ...
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