Third Quarter Economic Growth Revised to 1.8%
Washington, DC, Dec. 22, 2011 -- U.S. economic growth in the third quarter was revised down, the Commerce Department reported.
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.
Government Says Foreclosures To Stay High
Washington, DC, Dec. 22, 2011 -- Foreclosures in the initial stages rose in the third quarter and are expected to remain elevated for the “foreseeable future,” the Office of the Comptroller of the Currency said in a report.
Fuller Buying Forbo's Industrial Adhesives Unit
St. Paul, MN, Dec. 22, 2011 -- Adhesives firm H.B. Fuller Co. has agreed to acquire the industrial adhesives business of the Forbo Group for $395 million.
Existing Home Sales Highest in Ten Months
Washington, DC, Dec. 21, 2011 -- Existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors.
Glut of Foreclosures To Keep House Prices Low
Washington, DC, Dec. 21, 2011 -- Approximately 46% of homes sold in November were either short sales or repossessions, according to a survey by Campbell/Inside Mortgage Finance released Tuesday.
Proposal Would Allow Reduction of Interest Rate
Washington, DC, Dec. 21, 2011 -- The regulator for mortgage backers Fannie Mae and Freddie Mac is considering a proposal to allow for a reduction in mortgage debt for homeowners in Chapter 13 bankruptcy, Financial Times reported.
Pfleiderer Reports Third Quarter Profit
Neumarkt, Germany, Dec. 21, 2011 -- Pfleiderer said it continued to grow its revenue and operating income in the third quarter.
Mortgage Application Volume Declines
Washington, DC, Dec. 21, 2011 -- Mortgage application volume fell 2.6% from the prior week, the Mortgage Bankers Association said Wednesday.
Beaulieu Targets Pet Owners With New Carpet
Dalton, GA, Dec. 21, 2011 -- Beaulieu of America is targeting pet owners with a new carpet collection called Bliss EverClean carpet.
Wood Flooring Firm Plans Big Expansion in India
Delhi, India, Dec. 21, 2011 -- With wooden flooring fast becoming a favored lifestyle product in urban centers, India-based BVG Krono, has drawn up an ambitious market expansion program.