Despite Lower Interest Rates, Housing Market Still Faces Obstacles
Washington, DC, September 20, 2024—"After months of anticipation, the Federal Reserve cut interest rates on Wednesday by half a percentage point,” reports NPR.
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.
Foreign Investment In Mexico Hit $31 Billion in First Half of 2024
High Point, NC, September 20, 2024-"Foreign direct investment in Mexico topped $31 billion in the first six months of the year, an all-time high according to the country’s Ministry of Economy. This year is pacing 7% higher than 2023,” reports Furniture Today.
ASTM Standard for Mitigating Moisture Beneath Resilient Approved
Theodore, AL, September 20, 2024-ASTM F06 recently approved a new standard that covers single-component fluid-applied moisture mitigation systems for use under resilient flooring
Kenneth Frazier of Frazier's Carpet One Has Died
Knoxville, TN, September 20, 2024-- Kenneth Frazier, 77, former president of Frazier’s Carpet One, died September 16.
Hero Flooring Names Elaf Rubber Middle East Distribution Partner
Las Vegas, NV, September 20, 2024—Hero Flooring announces Elaf Rubber, a Middle East distributor for resilient flooring, as the master distributor of all Hero Rubber + Nike Grind products throughout the Middle East market.
Fed Cuts Interest Rates by a Half Point
Washington, DC, September 18, 2024-"The Federal Reserve voted to lower interest rates by a half percentage point, opting for a bolder start in making its first reduction since 2020. The long-anticipated pivot followed an all-out fight against inflation the central bank launched two years ago,” reports the Wall Street Journal.
Existing-Home Sales Declined 2.5% in August
Washington, DC, September 19, 2024—Total existing-home sales descended 2.5% from July to a seasonally adjusted annual rate of 3.86 million in August, according to the National Association of Realtors.
Forbo Opens New Distribution Center in Pennsylvania
Hazleton, PA, September 19, 2024-Forbo Flooring Systems North America celebrated the grand opening of its new distribution center in Hazleton, Pennsylvania this week with a ribbon cutting ceremony.
Southwind Celebrating 30 Years of Business
Dalton, GA, September 19, 2024-Southwind Building Products is celebrating 30 years of business.
Initial Jobless Claims Declined by 12,000 in Week Ending Sept. 14
Washington, DC, September 19, 2024—In the week ending September 14, the advance figure for seasonally adjusted initial claims was 219,000, a decrease of 12,000 from the previous week's revised level, according to the Department of Labor.