Fed Cuts Rates 50 Basis Points
Washington, DC, September 18, 2007--The Federal Open Market Committee today lowered its target for the federal funds rate 50 basis points to 4 3/4%.
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.
Builder Confidence Drops in September
Washington, DC, September 18, 2007--Concerns about the substantial inventory of new homes and the effects that deepening mortgage market problems caused builder confidence to decline for a seventh consecutive month in September.
NAR: Fundamentals Support Commercial Real Estate
Washington, DC, September 18, 2007--Most commercial real estate markets are enjoying relatively low vacancy rates and healthy rent growth from a fundamentally sound economy, according to the National Association of Realtors.
IWT Filing For Chapter 11 Bankruptcy
Palm City, FL, September 18, 2007- IWT Tesoro Corporation said today it filing for Chapter 11 bankruptcy.
Mohawk CEO on 'Extreme Green Makeover'
Dalton, GA, September 19, 2007—Atlanta station WSB-TV featured Mohawk Industries as a part of a prime-time news special, “Extreme Green Makeover,” that aired September 18.
Forecast: Credit Crunch to Flatten Holiday Sales
Columbus, OH, September 19, 2007-Holiday sales this year will grow at their weakest pace in five years, according to a forecast by TNS Retail Forward.
Pfleiderer Expands in Poland
Neumarkt/Grajewo, Poland, September 19, 2007--Pfleiderer Aktiengesellschaft today officially began operations at its new medium density fiberboard (MDF) plant in Grajewo, Poland.
Mortgage Applications Rose Last Week
Washington, DC, September 19, 2007--The weekly survey by the Mortgage Bankers Association (MBA) showed a 2.4% increase in mortgage applications over the previous week.
Housing Starts Off 2.6% in August
Washington, DC, September 19, 2007—Housing starts dropped by 2.6% in August to an annual rate of 1.331 million, according to the Commerce Department.
CPI Declines in August on Falling Energy Prices
Washington, DC, September 19, 2007—The consumer price index fell 0.1% in August as energy prices dropped for a third straight month, according to a report from the Labor Department.