Week of December 17, 2007
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Board room at the Federal Reserve.

Fed and Senate Take Steps to End Mortgage Credit Crunch

As the Federal Reserve Board continued last week to reduce interest rates and alleviate stress in the money markets, the Senate made up for several weeks of inaction on key legislative priorities for NAHB and passed bills that would modernize the Federal Housing Administration and eliminate taxes on forgiven mortgage debt.

During the previous week, the White House announced an ambitious effort to significantly reduce foreclosures with a five-year interest rate freeze on certain subprime mortgages, another important provision that home builders are hoping will help restore confidence in the housing market and lead to a prolonged period of recovery beginning in 2008. ...

Framing Lumber Composite $ 268 $ 1
OSB Composite $ 179 $ 2
Southern Pine Plywood Composite $ 463 $ 13
With permission from: www.randomlengths.com 
 
Pervious pavement in the parking lot.

Washington Builders Limit Runoff From Record Rainfall


Record-breaking rainfall in the Northwest inundated parking lots and overwhelmed storm water management systems in Washington state two weeks ago, but the Kitsap Home Builders Association came through unscathed thanks to pervious pavements, a rain garden and other low-impact development features installed by member volunteers that kept excess water at bay.

In 48 hours, the Bremerton, Wash. area was saturated by about 13 inches of precipitation, a record even for the rainy Northwest, or at least for the city itself, said the association’s executive director, Art Castle. “When I came in to work Monday morning, the rainfall was still at its peak and I saw a river running down the street,” he said.  But at the HBA headquarters, “there was no surface runoff from the site,” he said. ...

Nation's Building News Will Not Be Published During the Holidays

Nation's Building News will not be published on Dec. 24, Dec. 31 or Jan. 7. Publication will resume on Jan. 14 with a special preview issue of the 2008 International Builders' Show.

Have a happy and warm holiday season and a Happy New Year.


Read Our International Builders' Show Preview on Jan. 14

Nation's Building News will be publishing a special issue on Jan. 14 that will highlight the upcoming 2008 International Builders' Show in Orlando, the largest residential and light commercial trade show in the world.

The issue will feature events, courses, schedules, products and more.  

More than 100,000 housing professionals — including home and apartment builders, architects and product manufacturers — are expected to attend the show at the Orange County Convention Center Feb. 13-16.

For more information, visit the International Builders' Show Web site at www.BuildersShow.com.

Interest Rates  
  30-Yr. Fixed: 6.11% 15-Yr. Fixed: 5.78% 5 Yr. ARM: 5.89%
  1 Yr. ARM: 5.50% Libor (3 months): 4.94% Prime: 7.25%
Housing Starts*  (October 2007)
  Total: 1.229 million Single: 884,000 Multi: 345,000
Home Sales*  (October 2007)
  New: 728,000 Existing: 4.97 million  
Median Home Prices  (October 2007)
  New: $217,800 Existing: $207,800  
* Seasonally Adjusted Annual Rate

   
 
 
   
 
Get 3D Models for your projects at the Sweets Network!
Find product catalogs from all leading manufacturers at the Sweets Network!
 
   
 
Evening Includes Buffet Dinner, Admission to Attractions & Clubs
Register for the Show
300 Educational Seminars
 
   
 
GM NAHB $500 Exclusive Offer
Save Up to 30% on UPS Shipping
Introducing the Hertz Green Collection
 

 
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