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 a surge in mortgage rates. to their highest levels in over a decade. The average 30-year fixed mortgage rate surged to 5.89% this week, according to data from Freddie Mac. The surge to nearly 6% represents the highest level since 2008, in the midst of the housing ...
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