Consumer Borrowing Spikes in March
Washington, DC, May 8, 2008--Stressed consumers are turning to increasingly turning to their credit cards.
Today's Flooring News
Keep up to date with the most recent news in the flooring industry. Today's News...As it happens! We update this news several times a day so you can stay connected.
Refinancing Fuels Mortgage Application Surge
Washington, DC, May 7, 2008--Mortgage applications filed last week rose 15.6 percent compared with the previous week due to increased refinancing activity, according to the Mortgage Bankers Association.
Congoleum Records Profit on Lower Sales
Mercerville, NJ, May 7, 2008 -- Congoleum Corporation swung to a profit in the first quarter compared to a year ago with net income of $1.7 million or $.20 per share. However, sales declined by 3.3 percent.
House Scheduled To Vote on Housing Rescue Plan
Washington, DC, May 7, 2008--The House is scheduled to vote today on a broad housing rescue package aimed at preventing foreclosures by having the government step in to insure up to $300 billion in new mortgages for struggling homeowners.
Bernanke Urges More Action on Housing Crisis
New York, NY, May 6, 2008--Federal Reserve Chairman Ben Bernanke warned Monday that the growing number of late mortgage payments and home foreclosures are dangerous for the national economy.
Pure Earth Buys Nycon, Has Green Concrete Fiber
Trevose, PA. May 7, 2008--Pure Earth Inc. said it has completed the acquisition of Nycon, Inc. and changed its name to New Nycon Inc. Terms of the transaction were not disclosed.
Rieter Guides Lower on Slower Asian Sales
Zurich, Switzerland, May 7, 2008--A slow market for textile machinery has prompted The Rieter Group to revise its expectations downward for the current financial year.
Trustee Says Beazer Homes in Default on Notes
Atlanta, GA, May 7, 2008--Beazer Homes received a default notice from the Bank of New York Trust Company National Association on April 30.
Nora Recommends INSTALL Installation of Flooring
Lawrence, MA, May 7, 2008 —Nora Systems Inc., manufacturer of Nora rubber flooring, is now recommending that a member of the International Standards and Training Alliance (INSTALL) install its products.
D.R. Horton Posts Loss on Charges, Slow Sales
Fort Worth, TX, May 6, 2008--Homebuilder D.R. Horton said it swung to a loss in the second quarter, as a sustained housing slump forced the nation's largest homebuilder to take significant charges and write down the value of property.