Fixed Mortgage Rates Down Sixth Straight Week
Washington, DC, May 27, 2011 -- Slower economic activity sent rates on fixed-rate mortgages lower for the sixth week in a row, Freddie Mac’s chief economist said on Thursday.
Today's Flooring News
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NAHB Cautions Congress on Fannie, Freddie
Washington, DC, May 27, 2011 -- The National Association of Home Builders told Congress Thursday that maintaining an appropriate level of government support is absolutely essential to preserve financial stability.
Housing Affordability at Highest Level in 20 Years
Washington, DC May 25, 2011--In the first quarter of 2011, nationwide housing affordability rose to its highest level in the more than 20 years that it has been measured, according to the NAHB.
GDP Increases in First Quarter
Washington, DC, May 26, 2011--Real gross domestic product increased at an annual rate of 1.8% in the first quarter. In the last quarter of 2010, GDP increased by 3.1%.
Tariffs on Chinese Furniture Didn't Create Jobs
Dongguan, China, May 26, 2011--Tariffs put on China's furniture imports to the U.S., similar to those being levied in the flooring industry, have not pushed business to U.S. manufacturers or resulted in U.S. job growth, said the Wall Street Journal.
Q.E.P. Posts Increase Earnings
Boca Raton, FL. May 26, 2011--Q.E.P. Co., Inc. earned $9.4 million during the fiscal year that ended February 28.
Unemployment Claims Rise Slightly
Washington, DC, May 26, 2011--For the week ending May 21, seasonally adjusted initial unemployment claims was 424,000, an increase of 10,000 from the previous week's revised figure.
Sales of Foreclosure Homes Fall
Irvine, CA, May 26, 2011--U.S. homes in foreclosure sold at an average 27% less in the first quarter, according to RealtyTrac. This number reflects the price of distressed properties as compared to normal selling prices.
BASF to Open TDI Plant
Ludwigshafen, Germany, May 26, 2011--Chemical manufacturer BASF has announced that it will build the world’s largest single-train TDI (toluene diisocyanate) plant in Europe.
Pleiderer Announces Restructuring Plan
Neumarkt/Cologne, Germany, May 26, 2011--The Pfleiderer AG Business Center Western Europe (BC West) announced that it is implementing its restructuring plan and has already put significant elements of the plan into practice.