Mortgage Refinancing Continues at High Pace
Washington, DC, Dec. 17, 2008--Applications to refinance existing mortgages increased 2.9% increased last week compared to the prior week as interest rates remained low.
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.
Fed Slashes Interest Rate To Record Low
Washington, DC, Dec. 16, 2008--The Federal Reserve slashed the target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat a severe financial crisis and prolonged recession.
Trans Ceramica Names Chicago Sales Manager
Chicago, IL, Dec. 17, 2008--Chicago-based Trans Ceramica has named Eugenio Megna to manage its Chicago sales team.
Leggett & Platt Lowers Guidance Again
Carthage, MO, Dec. 17, 2008--Leggett & Platt Inc. again lowered its year outlook Tuesday, reflecting "extremely low market demand."
Housing Starts, Permits, Fall to Record Lows
Washington, DC, Dec. 16, 2008--New housing starts and permits plunged to record lows in November, the Commerce Department reported on Tuesday.
Home Builders Cry For Federal Help as Index Falls
Washington, DC, Dec. 15, 2008--Home builder confidence remained at record lows in December as deepening economic turmoil, a deteriorating job market, and an ongoing flow of foreclosed homes onto the market continued slow sales.
Invista Continues To Downsize in Virginia
Waynesboro, VA, Dec. 16, 2008--Although all 632 Invista workers at the company’s Waynesboro plant have received notice that they could be laid off Feb. 8, the company will still retain more than 500 employees and contractors.
Fannie Helping Renters Stay in Foreclosed Homes
Washington, Dc, Dec. 16, 2008--Loan giant Fannie Mae said Sunday that it would sign new leases with renters living in foreclosed properties owned by the company so they can avoid eviction.
Consumer Prices Continue To Fall
Washington, DC, Dec. 16, 2008--U.S. consumer prices posted a second-straight record decline last month, as falling energy prices and the contracting economy are easing inflation.
Foamex Names Earley CFO
Media, PA, Dec. 16, 2008--Foamex International Inc. has named Harold J. Earley executive vice president and chief financial officer.