Week of September 8, 2008
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NAHB to Look at Restoring Home Finance System Health

The nation’s home builders have expressed hope that the government’s action to place Fannie Mae and Freddie Mac into conservatorship will help to increase liquidity for home financing and restore confidence in the global financial markets.

In a statement issued shortly after the Treasury Department announced on Sunday, Sept. 7 that it was taking over the two mortgage industry giants, NAHB Executive Vice President and CEO Jerry Howard said: “At this critical turning point, it is essential that government regulators and all parties involved in the nation’s housing finance system work together to rebuild the nation’s secondary mortgage market — a move that is absolutely vital to provide affordable mortgages for America’s home buyers and to help spur an economic recovery. ...

Framing Lumber Composite $ 283 $ 2
OSB Composite $ 220 $ 8
Southern Pine Plywood Composite $ 488 $ 15
With permission from: www.randomlengths.com 

Floor Plans: Ranch-Style Living for Active Empty Nesters

Home: Mountain Mist, Backcountry Collection
Builder: Shea Homes

When Shea Homes created the Mountain Mist model for its Backcountry homes in the master-planned community of Highland Ranch, Colo., the builder targeted sophisticated, empty nester, active adult couples with a net worth of $500,000 or more.

Designed for people who have the time and resources to take full advantage of their natural surroundings, the homes are just steps away from neighborhood parks, a 467-acre undeveloped wilderness area and 70 miles of hiking and biking trails.

The Mountain Mist home also was designed to give potential home owners the flexibility to match their home to their lifestyle as well as incorporate many of their aging-in-place needs so it could be their home for years to come. ...


Builders Ask for Energy Code Changes to Be Cost-Effective

As NAHB members prepare for the International Code Council’s final hearings in Minneapolis later this month, builders are leading opposition to the so-called “30% solution,” a package of energy code changes promoted by a coalition of advocates, including window and insulation manufacturers.

“We believe in energy efficiency, and we are concerned about the effects of climate change and the consequences of our continuing reliance on fossil fuels and what that means for the country we leave our children and grandchildren,” said NAHB President Sandy Dunn. ...

Interest Rates  
  30-Yr. Fixed: 6.35% 15-Yr. Fixed: 5.90% 5 Yr. ARM: 5.97%
  1 Yr. ARM: 5.15% Libor (3 months): 2.82% Prime: 5.00%
Housing Starts*  (July 2008)
  Total: 965,000 Single: 641,000 Multi: 324,000
Home Sales*  (July 2008)
  New: 515,000 Existing: 5.00 million  
Median Home Prices  (July 2008)
  New: $230,700 Existing: $212,400  
* Seasonally Adjusted Annual Rate

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