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October 24, 2022

N. American lumber prices climb 26% in October despite housing market slowdown

  North American lumber prices have rallied 26% so far in October, but further gains may be limited as the housing market slows down.  The average 30-year fixed mortgage rate hit 7% in amid the Fed's ongoing rate hike policy.  "At 7% interest rates, I wouldn't expect lumber to do much for a while," MaterialsXChange's Ashley Boeckholt said.  N. American lumber prices have staged an impressive rally so far in October, rallying 26% even as the housing market shows further signs of cooling down.  In tandem with the Federal Reserve ...

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