(VIANEWS) – In a sign that rising interest rates have deflated markets, lumber prices are now in decline. Not even supply-chain issues were enough to keep lumber prices high.

Interest rates have also helped cool down a hot housing market. Lumber prices are expected to recover, but the future of the housing market remains uncertain.

Investment in residential construction rose by double digits from the third quarter of 2018 to the first quarter of 2021.

Rising interest rates will likely have a positive impact on the housing market. If you’re a homeowner, make sure you check the lumber prices. They can affect your home’s value and your mortgage rate. Rising commodity prices are good for producers and bad for consumers.

While consumers may be enjoying lower lumber prices at home-improvement stores this summer, the prices for new home construction are expected to continue climbing through 2022.

While the economy has increased and unemployment has decreased, inflation has continued to rise. Although the economy is still growing at a good clip, inflation may become a major political issue in the coming elections.

Lumber Technical Analysis.

Lumber (LBS) is currently on bearish momentum. At 11:52 EST on Tuesday, 31 May, Lumber (LBS) is at $668.20 and 3.87% down since the last session’s close.

Volume

Today’s last reported volume for Lumber is 96, 99.99% below its average volume of 31428834.56.

Lumber Range

Concerning Lumber’s daily highs and lows, it’s 0.269% down from its trailing 24 hours low of $670.00 and 6.545% down from its trailing 24 hours high of $715.00.

Volatility

Lumber’s last week, last month’s, and last quarter’s current intraday variation average was a positive 1.96%, a negative 12.23%, and a positive 9.86%, respectively.

Lumber’s highest amplitude of average volatility was 2.68% (last week), 13.14% (last month), and 9.86% (last quarter), respectively.

Commodity Price Classification

According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, Lumber’s commodity is considered to be oversold (<=20).

More news about Lumber (LBS).

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