Tag Archive for ‘housing’

Consumer Credit Balances, Debt Service Ratio Climb

According to the Federal Reserve Board’s G.19 Consumer Credit report, the total amount of consumer credit outstanding rose by 5.2 percent (SAAR) over the 1st quarter of 2017, 2.4 percentage points less than the 6.6 percent rate of growth in the 4th quarter of 2016. Consumer credit outstanding now totals $3.8 trillion. After declining on a quarterly basis over 2009… Read More ›

Remodeling in 2016: Kitchens Reclaim Top Spot from Baths

May is National Home Remodeling Month.  For the month’s first related post, we report on the most common types of remodeling projects performed by NAHB Remodelers in 2016.  The results come from a special question added to NAHB’s Remodeling Market Index (RMI) survey for the first quarter of 2017. The results show kitchens edging out baths for the top spot… Read More ›

Nationwide Recovery Continues

For the country as a whole, the NAHB/First American Leading Markets Index (LMI), released today, rose .01 point over the quarter to 1.0. Over the past year, the LMI grew by .05 point. The index uses single-family housing permits, employment, and home prices to measure proximity to a normal economic and housing market. The index is calculated for both the entire… Read More ›

Rates Tick Down in March

Following 4 consecutive monthly increases, results from the Mortgage Interest Rate Survey (MIRS) released by the Federal Housing Finance Agency (FHFA) indicate that mortgage rates fell in March 2017*. Over the month, contract rates on mortgages used to purchase single-family newly constructed homes declined by 6 basis points to 4.12 percent. Despite the decline, rates remain above the low of 3.54 percent in… Read More ›

Strong March for New Home Sales

Contracts for new home sales expanded by 5.8% in March, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory. The seasonally adjusted annual pace for March new single-family… Read More ›

Impact of the Duty on Canadian Lumber Announced April 25

On April 25, the Department of Commerce levied a 19.88% duty rate against Canadian softwood lumber exports to the United States. Due to “special circumstances,” the duties will be retroactive 90 days from the date that the rates are officially published in the Federal Register, likely back to the beginning of February. Five Canadian lumber producing companies will face specific… Read More ›

USDA Single Family Programs: Trends in Loans for Newly Constructed Homes

A recent NAHB study tracks trends in loans for new construction obligated under the USDA Single-family programs, the Section 502 Direct Loan Program and the Section 502 Guaranteed Loan Program. The report finds that, similar to the Federal Housing Administration’s single-family loan program, the USDA programs supported homeownership at a time when obtaining a conventional loan became increasingly difficult. However,… Read More ›

Young Adults & the Construction Trades

NAHB conducted a national poll of young adults ages 18 to 25 to find out how this age group feels about a career in the construction trades. The majority of young adults (74%) say they know the field in which they want to have a career.  Of these, only 3% are interested in the construction trades. Most of the young… Read More ›

Housing Starts Fall in March After a Strong February

Total housing starts declined in March, after a strong pace was recorded in February. Total starts were down almost 7%, falling to a 1.215 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts posted a monthly decline of 6% in March, falling to an 821,000 annual rate. The February annualized rate, 875,000, was the fastest monthly pace since… Read More ›

Builder Confidence Holds Firm in April

Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after an unusually high March reading. Builders continue to report significant interest among potential home buyers, with the traffic measure continuing to score above the breakeven level of… Read More ›