Nation's Building News Online

Home Builders Assisting in Recovery Efforts in Aftermath of California Wildfires

In the aftermath of destructive wildfires in Southern California, staff members from NAHB’s Codes and Public Affairs departments are working  … [ MORE ]

Building News From Coast to Coast

• Mastering the Largest Bedrooms of All
• Home Builders Smash Views
• Homeownership Builds to Record
• The Color of Money
• Center Gets Grant for Healthy Housing
• Outdoor Fireplaces Warm Up Cold Days
• Thievery Adds to the Cost of Building a Home in Maryland
• KB Home Becomes First Big Builder to Adopt National Housing Quality Certification Program Nationwide

[ MORE ]

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Debate Continues Over Arc Fault Circuit Interrupters

Debate over arc fault circuit interrupters (AFCI's) in new residential construction continues as the National Fire Protection Association (NFPA) considers proposals to remove AFCI requirements from the National Electric Code (NEC).

Arc fault circuit interrupters are circuit breakers designed to detect certain types of arc faulting that may occur in electrical systems. The current NEC requires AFCI's to be installed on circuits serving bedrooms.

At issue is whether the added protection that AFCI's provide will make a real difference in reducing residential electrical fires in homes. Because of the improved fire-safety features already required by today’s codes and standards, residential fires have been on a significant decline for a number of years, and there is simply nothing to indicate that the AFCI requirement for new construction will significantly contribute to that trend.

NAHB and others have strongly opposed mandating this technology in building codes. There is no quantifiable data to justify the current NEC requirements or documenting any benefits in terms of increased fire safety. The number of electrical fires that AFCI’s will potentially prevent, above those …  …[ MORE ]

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Housing Snapshot

The highlight of last week was a 7.2% increase in the Gross Domestic Product in the third quarter, signaling what analysts are hoping will be the start of a more vigorous phase of economic growth. Consumer spending, fueled by the Bush Administration's tax cut and mortgage refinancings this summer, was a key factor. Growth is now expected to proceed annually in the 4% range for the next several business quarters. The new week started off with encouraging news from the manufacutring sector, which expanded strongly in October, its fourth consecutive month of growth. Mortgage interest rates softened a bit last week and fixed-rate loans continue to remain well below last year's 6.5% average. On the lumber front, there was not much change: framing lumber rose to $321 per 1,000 board feet compared to $319 the prior week; 15/32-inch 3-ply CDX Southern Westside plywood fell from $535 to $520 per 1,000 square feet and OSB remained unchanged for the second week in a row at $465. OSB was $162 a year earlier. [ MORE ]

Mortgage Interest Rates

30-Year Fixed-Rate: 5.94%
15-Year Fixed-Rate: 5.26%
1-Year ARM: 3.74%

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

Sponsored by: 2-10 Home Buyer's Warranty

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