Register Now for IBS and Save
Register online for The 2005 International Builders’ Show in Orlando, FL and save.
Also, book your Orlando hotel through the IBS housing block by Dec. 17 and you’ll receive a discount booklet with savings to local attractions like Disney World and Universal Studios, discounts to restaurants, and other benefits including convenient customer service for changes and cancellations, the International Builders' Show Shuttle Bus system and on-site services from the NAHB hotel desk at the Orange County Convention Center.
To register online and reserve your hotel room through the IBS housing block, go to www.BuildersShow.com/register.
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Builders Urge Democratic Party to Adopt Housing Policy Agenda
The nation’s home builders urged the Democratic Platform Drafting Committee to adopt a national policy agenda to address America’s housing challenges during a hearing before the panel on June 18 in Santa Fe, NM.
Testifying on behalf of NAHB, Bill Killmer, executive vice president …
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Housing Snapshot
More segments of the economy began to pitch in and add strength to the recovery, according the Federal Reserve "Beige Book" report released last week. Big industry production surged 1.1% in May, with factory production the biggest slice of activity — a good sign that manufacturing is on a firm recovery path and the national recovery is gaining momentum. Overall hiring picked up "at a faster pace," and while producer prices rose 0.8% for the month, the Fed doesn't appear to view inflation as a "serious concern in the period ahead" as Fed officials signaled they intend to increase the benchmark overnight interest rate at a "measured," or gradual, pace starting as early as their next policymaking meeting later this month. Given the current economic environment, Frank Nothaft, Freddie Mac vice president and chief economist, anticipated that mortgage rates would remain "at or near their current consumer-friendly levels for the remainder of the year." Lumber prices, while still much higher than a year ago, began to decline last week. The price of framing lumber dropped $7 to $419 per 1,000 board feet, according to Random Lengths. Last year, the price was $309. The price of 15/32-inch 3-ply CDX southern west-east plywood declined $43 to $355 per 1,000 square-feet, and oriented strand board dropped $60 to $340, more than countering the $40 increase two weeks ago.
| Mortgage Interest Rates |
| 30-Year Fixed-Rate |
6.32% |
| 15-Year Fixed-Rate |
5.70% |
| 1-Year ARM |
4.13% |
| Housing Starts - May 2004* |
| Total |
1.97 million |
| Single-Family Starts |
1.64 million |
| Multifamily Starts |
317,000 |
New Home Sales
Apr. 2004* |
1.093 million |
Existing Home Sales
Apr. 2004* |
6.64 million |
| * Seasonally adjusted annual rate |
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