Mortgage rates showed a slight increase last week, according to the latest weekly survey from the Mortgage Bankers Association. The average contract interest rate for a 30-year fixed-rate mortgage increased to 4.92 percent from 4.88 percent the previous week, although mortgage loan applications were still up 0.3 percent.
According to the U.S. Census Bureau’s new residential construction report, housing starts rose 8.9 percent to a seasonally-adjusted annual rate of 574,000, the highest level in a year and a stronger jump than most economists expected. This was a welcome rebound, considering construction on U.S. housing units dropped sharply in October.
Realtors believe that home prices are stabilizing and will continue to do so in 2010, according to a recent HomeGain survey of nearly 1,000 U.S. real estate agents and brokers. The majority also believe the first-time home buyer tax credit is spurring sales and is contributing factor to home prices stabilizing.
According to RealtyTrac, 306,627 foreclosure filings were reported in November, a decrease of nearly 8 percent from the previous month but still 18 percent higher than this time last year. One in every 417 U.S. housing units received a foreclosure filing in November.
Ideal Homes, Professional Builder magazine's 2010 Builder of the Year, offers lessons in energy efficiency, finances and quality control.
In Professional Builder’s latest webcast, “Valued-Engineered Housing for Today’s Buyer Market,” three home building industry experts discuss ways builders can value-engineer their businesses to maximize profit, beat the competition and improve their products.
84-year-old HVACR technician passes North American Technician Excellence certification retention test
MonierLifetile is introducing an online interactive energy efficiency calculator for use by the building community and homebuyers. The sophisticated online tool demonstrates cost savings that can be achieved with concrete roof tile.
The International Code Council's (ICC) Residential Building Code Committee voted to keep the residential fire sprinkler system requirement for one- and two-family new construction homes in the International Residential Code at the ICC hearings in Baltimore, MD this week.
The U.S. Senate has finally agreed on the plan to extend the first-time home buyer tax credit and expand a reduced version of it to move-up buyers as well.