True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Don’t sleep on non-QM products

Now is the perfect time for originators to consider expanding to non-QM products – to grow business, diversify their offerings and to ensure an opportunity to better serve their customers.

Real Estate

CBC: Canadian lumber producers tell U.S. consumers ‘You can take your tariffs back, eh!’

NAHB says U.S. tariffs on Canadian softwood add an average of $9,000 per house to U.S. home prices

According to an article from the Canadian Broadcasting Corporation, Canadian lumber companies are seeing record revenues despite heavy tariffs from the U.S.

So, who’s getting the short end of the board foot? None other than U.S. consumers.

"The demand for lumber has been very, very strong, even with a 20.33% duty," said Susan Yurkovich, president of the B.C. Lumber Trade Council.

Yukovich said the intense demand for Canadian lumber is being fueled by a sizzling hot American housing market. Lumber producers in the U.S. are unable to keep up with domestic demand, so homebuilders have been looking to Canada to fill the gap. "Right now, we're experiencing a strong market, so we are able to pass those duties on to U.S. consumers." 

According to the National Association of Home Builders, the tariffs have caused home prices in the U.S. to jump by an average of $9,000 per home.

"I don't think it's fair," NAHB CEO Jerry Howard told CBC News.

"For every $1,000 increase in the price of a house, 150,000 people are priced out of the market. This is having a serious impact on housing affordability, and it is having a serious impact on the home building sector as an economic force," he added.

Members of the NAHB met with U.S. Commerce Secretary Wilbur Ross on Tuesday with hopes of convincing him to end the tariffs.

"It is essential that the two sides resume talks and hammer out a long-term solution to this trade dispute that will ensure U.S. homebuilders have access to a stable supply of lumber at reasonable prices to keep housing affordable for hard-working American families," NAHB Chairman Randy Noel said in a statement.

Most Popular Articles

Volume-hungry mortgage lenders loosen credit standards

Mortgage credit availability loosened up in April by 2.2%, per the MBA. The drivers were in conventional mortgages and GSE programs for ARMs and high-balance loans.

May 11, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please