North American softwood lumber prices defy the most recent surge in mortgage rates and rise 10%

-N. American softwood lumber prices staged a 3-day rally of 10% despite continued headwinds in the housing market. -The average 30-year mortgage rate closed in on 6% this week, hitting its highest level since 2008. -Homebuilders continue to see a slow-down in demand, which doesn't bode well for lumber. North American softwood lumber prices broke a three-week losing streak and edged higher on Friday, extending its three-day rally to as much as 10% at $506 per thousand board feet. The gains come despite continued headwinds in the housing market, particularly ...