Lumber prices fall to their lowest level in 2022 as the highest mortgage rates in 13 years dent housing demand

Lumber prices fell below $800 on Monday to hit their lowest level of 2022. The 30% year-to-date decline in lumber prices comes as mortgage rates hit a 13-year high. A recent homebuilder survey revealed a slowdown in demand due to surging mortgage rates. Something is loading. Lumber prices fell as much as 6% on Monday…