Building News
From Coast to Coast

n Not-So-Rustic Retreats

n Builders Using Forensic Inspections to Boost Quality, Preclude Suits

n Aiming to Be the Next Big Amenity

n Cool Climates, Hot Suburbs, Mixed Blessings

n Homeownership Is Key to Closing Wealth Gap for African Americans

n In Metropolitan Areas, Home Prices Balloon in Third Quarter

n Rain Gardens Are a Naturally Pretty Way to Control Runoff

n Study: Schooling Barrier to Housing

Builders Ask Supreme Court to Review Wetlands Case on Roadside Ditches

The nation's home builders last week filed a petition asking the U.S. Supreme Court to review the 4th Circuit Court ruling in the Deaton v. United States wetlands case. …

Housing Snapshot

Mortgage interest rates increased slightly last week but are expected to remain close to their current levels for some time. Framing lumber rose from $327 to $333 per 1,000 board feet, according to Random Lengths, remaining well below a high of $386 in mid-September. OSB mill prices remained at $465 per 1,000 square feet; many producers have order backlogs stretching into next month, with few new orders coming in. The price of plywood remains high but is continuing to trail down slowly: 15/32-inch 3-ply CDX Southern Westside plywood fell from $505 to $485 during the previous week.

Mortgage Interest Rates
30-Year Fixed-Rate	6.03%
15-Year Fixed-Rate	5.39%
1-Year ARM	3.76%
Housing Starts - Sep. 2003*
Total	1.89 million
Single-Family Starts	1.52 million
Multifamily Starts	368,000
New Home Sales Sep. 2003*	1.145 million
Existing Home Sales Sep. 2003*	6.69 million
* Seasonally adjusted annual rate