Rising Rates Slow Mortgage Application Volume
Washington, DC, Sept. 24, 2008--Mortgage application volume retreated to sluggish levels last week as rising interest rates limited refinancing activity, according to the Mortgage Bankers Association.
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.
Commercial/Multifamily Mortgage Debt Grows
Washington, DC, Sept. 23, 2008--The level of commercial/multifamily mortgage debt outstanding grew by 1.5 percent in the second quarter.
Home Resales Fall in August
Washington, DC, Sept. 24, 2008--Existing-home sales were down in August following a healthy gain in July as tight mortgage credit curtailed activity, according to the National Association of Realtors.
Mercier Names Mid-Atlantic Sales Rep
Montmagny, Quebec, Canada, Sept. 1, 2008 - Mercier Wood Flooring has appointed Fred Hack sales representative for the Mid-Atlantic territory.
Lumber Liquidators To Sponsor Pro Bowlers Tour
Seattle, WA, Sept. 24, 2008--The Professional Bowlers Association said it’s signed a three-year sponsorship deal for a “multimillion-dollar” amount with Lumber Liquidators, according to the Puget Sound Business Journal.
Mortgage Help Part of Fed Bailout Package
Washington, DC, Sept. 23, 2008--Key Democrats and Bush administration officials agreed Monday to include mortgage help for stressed homeowners in the proposed $700 billion financial bailout package.
Carpetright Stock Falls on 'Cautious' Outlook
London, England, Sept. 23, 2008--Carpetright Plc had its shares slide as much as 7.1 percent in London trading after saying it remains ``cautious'' on the outlook for the year because of deteriorating financial and housing markets.
Home Builder Lennar Sees Revenues Tumble
Miami, FL, Sept. 23, 2008--Lennar Corp. said cost cutting helped narrow its loss in the third-quarter, but revenue fell by more than half.
Arrmstrong CEO Named to Railroad Board
Lancaster, PA, Sept. 23, 2008--Armstrong World Industries Inc. CEO Michael D. Lockhart has been elected to the board of freight railroad operator Norfolk Southern Corp.
Mohawk Looking for Greenworks Dealer of Year
Dalton, GA, Sept. 22, 2008—Mohawk is taking nominations for its first GreenWorks Dealer of the Year Award.