NAHB - Eye on Housing
Remodelers’ Confidence Holds Relatively Steady in Fourth Quarter
Thu, 17 Jan 2019 15:05:46 +0000
The Remodeling Market Index (RMI) dropped one point to 57 in the fourth quarter, essentially unchanged from the third quarter (58), according to the National Association of Home Builders (Figure 1). Since the first quarter of 2013, the RMI has been at or above 50, which means that more remodelers report that market activity is higher than report that it... Read More ›
Lower Interest Rates Stabilize Builder Confidence
Wed, 16 Jan 2019 15:02:30 +0000
Buoyed by falling mortgage rates, builder confidence in the market for newly-built single-family homes rose two points to 58 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment. Low unemployment, solid job growth and favorable demographics should support housing demand in... Read More ›
OSB Leads Building Materials Prices Lower in December
Tue, 15 Jan 2019 22:12:12 +0000
Overall, the price of materials inputs to residential construction declined 1.8% in December (not seasonally adjusted) according to the latest Producer Price Index (PPI) released by the Bureau of Labor Statistics. While most building materials prices showed little movement in December, prices paid for OSB fell by double digits for the second consecutive month. OSB prices declined 12.0% (NSA) in... Read More ›
CPI Slipped in December
Fri, 11 Jan 2019 15:43:40 +0000
In December, a big drop in energy prices dragged down headline inflation below zero, while core inflation remained steady. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), declined by 0.1% in December on a seasonally adjusted basis, after being unchanged in November. The “core” CPI, which excludes the volatile food and energy components, increased by... Read More ›
Student and Auto Loans Dominate Non-Mortgage Debt
Thu, 10 Jan 2019 17:27:43 +0000
Preliminary consumer credit data for November 2018 released by the Federal Reserve Board’s G.19 Consumer Credit report, which exclude loans secured by real estate, indicate an increase in outstanding credit of about 6.75% (seasonally-adjusted annual rate) from the previous month. Revolving credit increased at an annual rate of 5.50%, while nonrevolving credit increased at an annual rate of 7.00%. Revolving... Read More ›
November 30-Year Mortgage Rate Data
Thu, 10 Jan 2019 14:00:45 +0000
Information compiled by Freddie Mac shows that mortgage rates continued to increase in the fall. The 30-year FRM – Commitment rate, inched up by four basis points to 4.87 percent from 4.83 percent in October. With the November increase, the 30-year FRM – Commitment rate, was at the highest level since February 2011. As a result of rising home costs,... Read More ›