Articles

“For the full year, Mohawk’s business improved significantly,” said Jeffrey S. Lorberbaum, Mohawk’s Chairman and CEO. “Our fourth quarter sales remained strong, driven by a robust residential new construction and remodeling environment. Commercial sales improved as well, though they still lagged pre-pandemic levels. Earnings in the quarter benefited from improved price, mix and productivity.” Read More

“The average rate for a 30-year fixed-rate loan was 3.89%, mortgage-finance giant Freddie Mac said Thursday, down slightly from 3.92% last week. At the beginning of the year, the average rate on America’s most popular home loan was 3.22%. Read More

Projections for 2022 show a robust average annual growth in home improvement spending of 13.8% across all 48 major metropolitan areas tracked, with owner expenditures expected to grow between 7.6% and 23.0%. Read More

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: Personal income increased $9.0 billion, or less than 0.1 percent at a monthly rate, while consumer spending increased $337.2 billion, or 2.1 percent, in January. Read More

New home sales declined in January on rising interest rates but still posted a steady reading as demand remains strong. Read More

Confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). Read More

Real gross domestic product (GDP) increased at an annual rate of 7.0 percent in the fourth quarter of 2021, following an increase of 2.3 percent in the third quarter. Read More

In the week ending February 19, the advance figure for seasonally adjusted initial claims was 232,000, a decrease of 17,000 from the previous week's revised level, according to the Department of Labor.  Read More

Real gross domestic product (GDP) increased at an annual rate of 7.0% in Q4 2021, following an increase of 2.3% in Q3, according to the Bureau of Economic Analysis.  Read More

The Architecture Billings Index (ABI) score for January was 51.0 compared to 51.0 in December, according to a new report from The American Institute of Architects (AIA).  Read More