North American softwood lumber prices surged more than 7% on Thursday as mortgage rates fell for the first time in four weeks. The popular 30-year fixed mortgage rate fell 11 basis points to an average of 5.70% over the past week, according to Freddie Mac. A continued decline in mortgage rates could help revitalize the housing market and stimulate demand for lumber. North American softwood lumber prices surged more than 7% on Thursday to $638 per thousand board feet, representing the biggest daily gain for the ...
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