Building News
From Coast to Coast

n 'Adult Legos' Build a Following

n To the Beach — or Bust?

n Cities Consider Housing Deal

n Design Centers Give Builders New Insight

n Traditional Companies Get Help Establishing Online Presence

n Home Buyers Take a Shine to Energy Star

n The Powder Room Gains Respect

n High-End Homes a Hard Sell

How concerned are you about the possibility of massive electrical power blackouts?

	I've got other things to worry about.
	It's a concern, but nothing that directly affects my business.
	It's a big concern, and we need to do something about it.
	Don't know.

NAHB Members Urged to Voice Support for Alaskan Timber Harvesting

Alaskan home builders and communities that depend upon timber harvesting in the Tongass and Chugach National Forests face economic devastation if they fail to prevail against significant opposition to a proposed exemption to the U.S. Forest Service’s “Roadless Rule.”

As part of a major effort by NAHB, association members are being urged to participate in a letter-writing campaign to the Forest Service, which in recent months has been inundated with letters from environmental groups urging that the forests be closed to harvesting.

For a sample letter, NAHB members can click here. The letter can be e-mailed to the Forest Service. …

Housing Snapshot

Mortgage interest rates eased last week for the first time in eight weeks. With the exception of adjustable rate loans, mortgage rates were nearly the same as they were a year earlier. ARMs, which were down to 3.75% compared to 4.39% a year earlier, have started to attract more borrowers, according to Freddie Mac economists. The Federal Reserve decided to leave the federal funds rate at 1% last Tuesday, and the Consumer Price Index for July showed that inflation was running at an annual rate of 2.2% for the first seven months of the year, helping to allay fears over deflation. Home improvement retailer Lowe's reported strong profits of 28% during the second quarter.

Mortgage Interest Rates
30-Year Fixed-Rate	6.24%
15-Year Fixed-Rate	5.58%
1-Year ARM	3.75%
Housing Starts - Jun. 2003*
Total	1.80 million
Single-Family Starts	1.46 million
Multifamily Starts	341,000
New Home Sales Jun. 2003*	1.16 million
Existing Home Sales Jun. 2003*	5.83 million
* Seasonally adjusted annual rate