Nation's Building News Online

Welcome to NBN Online: A Message from NAHB President Kent Conine

Let me be the first to welcome you to Nation’s Building News Online. Each week, this is the place to find breaking news about the housing industry and information you can rely upon to improve  … [ MORE ]

Building News From Coast to Coast

• Mortgage Insurance Deduction Proposed
• First-Time Home Buyers Getting Younger
• Wireless Tech Transforming How We Work and Play
• Going Up, the Easy Way
• Creative License: Naming Housing Developments Often Is All About Image
• Technology Roadmap

[ MORE ]

Sponsored by: Countrywide Home Loans

See how Countrywide®'s National Builder Division can help builders achieve higher turns.
Discover how qualified borrowers can boost their home-buying power with one of Countrywide's 140+ home loan products.

Housing Activity to Remain Solid in 2003

Recent key barometers of housing activity indicate that housing remains strong despite consumer jitters over an impending war in Iraq, domestic terrorism and unstable oil prices.

Released by the Commerce Department last Thursday, new-home sales skidded 15% in January to a seasonally adjusted annual rate of 914,000. While the decline was bigger than expected, it was coming off December sales figures that were the fastest on record.

If January’s sales pace were simply maintained for the balance of this year, “we would be looking at the second-best year on record  … [ MORE ]

We Want to Hear From You

Let us know what you think about the new NBN Online. On everything from the news we are covering to how it is being delivered, we are waiting to hear from you. Click here to contact the editors. To manage your subscription, please see the links below.

Housing Snapshot

Despite harsh winter weather and consumer jitters over an impending war with Iraq, the housing market remains fundamentally strong. Low mortgage interest rates and healthy price appreciation in residential real estate continue to contribute to robust housing activity, although this year should experience small declines from 2002. [ MORE ]

Mortgage Interest Rates

30-Year Fixed-Rate: 5.79%
15-Year Fixed-Rate: 5.14%
1-Year ARM: 3.83%

Housing Starts - Jan. 2003*

Total: 1.85 million
Single-Family Starts: 1.51 million
Multifamily Starts: 340,000

New Home Sales Jan. 2003*

914,000

Existing Home Sales Jan. 2003*

6.09 million

* Seasonally adjusted annual rate

Sponsored by: 2-10 Home Buyer's Warranty

Need to Buy General Liability Insurance?
Are You Controlling Your Exposure to Moisture, Mold and Fungus?
Do You Know How to Compete for Insurance Dollars and Coverage?
Insurance Coverage a Challenge?