Nation's Building News Online

Elections Bring Significant Wins for Housing

While the national electorate on Nov. 2 produced a victory for President George W. Bush and Republican gains on Capitol Hill, voters across the country also brought home significant election wins for housing. … [ MORE ]

Building News From Coast to Coast

• Housing Outlook: Full Speed Ahead
• Lennar Delay Pushes Down Home Builders
• Bush's Plans for His Second Term
• Seniors Sell Family Homes, Look for Smaller Spaces
• When Fannie Says No, Buyers Often Scramble
• Autumn Fails to Chill Concrete Price Hikes
• Home Builders Take Urban Infill to Satellite Towns
• City Home Inspections Go Private

[ MORE ]

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'House About It': Just What Consumers Ordered

“House About It” is just the publication to help consumers with their choices for remodeling or building a new home. From doors and windows to flooring and plumbing, “House About It” is packed with innovative ideas and details to help increase the value, comfort and aesthetics of their home. This book is concise and informative, exciting and cutting-edge, and profiles countless products — everything from windows that are self-washing to an elevator that runs on a vacuum, wood and coconut palm flooring and outdoor fireplaces.

If your customers have trouble choosing, “House About It” can help. It includes all they need to know to make the right choice:

• Architectural Styles
• Construction Types
• Roofs
• Flooring
• Lighting
• Exterior and Interior Doors
• Mechanicals
• Environmental Health and Safety

“House About It” is available at BuilderBooks.com. To view or purchase it online, click here, or call 800-223-2665 to order.

Colorado Voters Show Support for Construction Defect Legislation by a Wide Margin

Voters in Colorado last Tuesday overwhelmingly turned back …  …[ MORE ]

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Housing Snapshot

Mortgage interest rates were up slightly last week, but the cost of fixed-rate financing was below the level of a year earlier. Freddie Mac Chief Economist Frank Nothaft attributed the increase to uncertainty in the bond market, which was trying to reconcile signs of weakness in manufacturing with strength in the service sector. Nothaft said prospects for the economy, and mortgage rates, continue to look favorable. The Labor Department reported the addition of 337,000 jobs to the economy in October, buoyed to some extent by post-hurricane recovery efforts in Florida. Since last August, 2.2 million jobs have been created. More good news came from oil prices, which started heading in a downward direction in response to rising U.S. stockpiles of crude and natural gas. The dollar was down last week, reflecting concerns over the magnitude of the U.S. trade and budget deficits. All was quiet on the lumber price front last week. Framing prices dropped from $358 to $355 per 1,000 board feet, according to Random Lengths, compared to $327 a year earlier. Random Lengths' structural panel composite price, which includes oriented strand board, moved up from $319 to $322 per 1,000 square feet, compared to $549 a year earlier. [ MORE ]

Mortgage Interest Rates

30-Year Fixed-Rate: 5.7%
15-Year Fixed-Rate: 5.08%
1-Year ARM: 4.0%

Housing Starts - Sep. 2004*

Total: 1.898 million
Single-Family Starts: 1.540 million
Multifamily Starts: 358,000

New Home Sales Sep. 2004*

1.206 million

Existing Home Sales Sep. 2004*

6.75 million

* Seasonally adjusted annual rate

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