Fish and Wildlife Service Seeks Removal of Pygmy Owl From Endangered Species List

The U.S. Fish and Wildlife Service (FWS) has agreed with NAHB that the pygmy owl should be removed from the endangered species list. … [ MORE ]

Building News From Coast to Coast

• Chandeliers Get Enlightened
• U.S. Population Nears 300 Million
• Today's Owners Are 'Smart' Gadgeteers
• Glass Block, Style With a Light Touch
• No More Cold Feet in Your Warm Home
• Building Walls That Add Character
• Home of the Future Will Include an Array of Electronic Gizmos
• Recent Wildfires Could Singe Builders With New Codes

[ MORE ]

Sponsored by: Countrywide Home Loans

Check it out: Countrywide offers some of the most innovative strategic alliance programs in the industry.
Discover how Countrywide's non-conforming loans can give larger borrowers an edge.

Happy Holidays

Happy Holidays from the staff at NBN Online. Following this issue, we will be taking a holiday break and not be publishing issues on Dec. 29 or Jan. 5. We will resume publication on Jan. 12.

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2004 International Builders’ Show Will Be One for the Record Books

With something for everyone, the blockbuster 2004 International Builders’ Show (IBS) in Las Vegas Jan. 19-22 is anticipating record crowds of attendees and exhibitors, including builders, developers, remodelers, suppliers and the media.

The show, which is not open to the general public, is expected to attract more than 90,000 attendees from 100 countries. An unprecedented 1,400+ exhibitors will occupy a record-breaking 1.5 million square feet of gross exhibit space — the equivalent of 40 football fields — at the annual event, which also features the industry’s largest new product showcase

In addition to the wide array of exhibits at IBS, several renowned speakers will offer insights on the role of the building industry, including former President George Bush, keynote speaker at the grand opening ceremonies on Jan. 19; and former Michigan Congressman Guy Vander Jagt, who will emcee an entertainment extravaganza during the same event.  …  …[ MORE ]

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Housing Snapshot

Mortgage interest rates moved down slightly for the second consecutive week as reports indicated that the economy is poised for more vigorous growth with virtually no major inflationary pressures on the horizon. The Consumer Price Index was down 0.2% in November, its first monthly decline since April, as the cost of gasoline, clothing and airline fares fell. The CPI was 1.8% for the first 11 months of this year, compared to 2.4% for all of 2002. At the same time, industrial production in November was up 0.9%, its strongest showing in four years. The Conference Board's Leading Indicators were up 0.3% in November, their second consecutive monthly increase. There was also good news from the jobs front, with the Department of Labor reporting a sharp decline in unemployment claims during the week ending Dec. 13. Trends in lumber prices also continued to be favorable. Framing lumber declined to $319 per 1,000 board feet, down from $326 during the prior week. And while there is still some room to go, plywood and oriented strand board prices are closing in on levels of a year earlier, before their sharp runup. According to Random Lengths, 15/32-inch 3-ply CDX Southern Westside plywood fell last week from $260 to $250 per 1,000 square feet and OSB remained unchanged from the previous week, at $220. [ MORE ]

Mortgage Interest Rates

30-Year Fixed-Rate: 5.82%
15-Year Fixed-Rate: 5.14%
1-Year ARM: 3.77%

Housing Starts - Nov. 2003*

Total: 2.070 million
Single-Family Starts: 1.695 million
Multifamily Starts: 375,000

New Home Sales Oct. 2003*

1.105 million

Existing Home Sales Oct. 2003*

6.35 million

* Seasonally adjusted annual rate

Sponsored by: 2-10 Home Buyer's Warranty

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