Lumber prices see no relief and continue to drop as Fed rate hikes put pressure on the housing market

Lumber prices continue to fall as future Fed rate hikes are poised to put more pressure on the housing market. Fed Vice Chair Lael Brainard said it’s “very hard to see the case” to pause its interest rate hikes. Lumber prices have dropped 48% year-to-date as mortgage rates jumped above the 5% threshold. Something is…