Building News
From Coast to Coast

n U.S. Cement Shortage Spreads, Threatens Construction Boom

n Construction Liability Insurance Costs Hurt Contractors

n House and Garden — a Seamless Match

n The Backyard Solar System

n Minorities Increase Homeownership

n Floors With a Pedigree: Remodeling Using 'Reclaimed' Wood

n School Ties Entice Buyers

n City Reshaping Building Codes to U.S. Model

House Bills Would Improve OSHA Regulation of Small Businesses

In a victory for NAHB, the U.S. House of Representatives on May 18 passed four bills that would improve …

Housing Snapshot

After climbing slowly but steadily this spring, mortgage interest rates remained virtually unchanged last week, with slight declines for fixed-rate loans and an increase in adjustable rate mortgages. The U.S. Commerce Department reported that housing production held up well in April as the economy continued to strengthen, and the Conference Board said that its composite index of leading economic indicators was up again in April. Sour notes for the economy came from rising oil and gasoline prices and general unease over uncertainties in the Middle East. News from the lumber front was favorable: Framing lumber was down $6 to $457 per 1,000 board feet, Random Lengths reported, and panel prices showed more substantial declines. The price of 15/32-inch 3-ply CDX southern westeast plywood dropped from $485 to $457 per 1,000 square feet (compared to $252 a year earlier), and oriented strand board fell from $450 to $400 (it was $197 during the same week of 2003).

Mortgage Interest Rates
30-Year Fixed-Rate	6.30%
15-Year Fixed-Rate	5.67%
1-Year ARM	3.99%
Housing Starts - Apr. 2004*
Total	1.969 million
Single-Family Starts	1.610 million
Multifamily Starts	359,000
New Home Sales Mar. 2004*	1.228 million
Existing Home Sales Mar. 2004*	6.48 million
* Seasonally adjusted annual rate