Mortgage Workouts by Industry Group Hit 239K
Washington, DC, Jan. 30, 2009--Mortgage companies modified a record 122,000 loans in December to try to avoid foreclosures, an industry group said Thursday.
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.
Canadian Chain Carpet Giant Going Out of Business
Toronto, Canada, Jan. 29, 2009--Canadian chain Carpet Giant has declared bankruptcy and will close its 12 warehouse style stores.
Fed Holds Key Interest Rate Near Zero
Washington, DC, Jan. 28, 2009--The Federal Reserve on Wednesday moved a step closer to purchasing longer-term Treasury securities if needed to improve conditions in private credit markets.
Shaw Closing Georgia Yarn Plant Next Month
Milledgeville, GA, Jan. 29, 2009--Shaw will close its yarn plant in Milledgeville in the next few weeks, according to todaysmgt.com.
Initial Jobless Claims Up Slightly in Week
Washington, DC, Jan. 29, 2009--Initial jobless claims rose 3,000 last week, data on Thursday showed, while so-called continued claims hit the highest level on record.
'Fix Housing First' Calls for Higher Tax Credits
Washington, DC, Jan. 29, 2009--Home builders and real estate agents called on Congress to revamp home buyer tax credits and to buy down interest rates for new homeowners as part of the economic stimulus package under debate this week.
House Passes $819 Billion Stimulus: On to Senate
Washington, DC, Jan. 29, 2009--President Barack Obama's $819 billion economic stimulus legislation is headed for the Senate after a partisan vote in the House in which Republicans united in opposition and 11 mostly conservative Democrats joined them.
Halstead Says Falling Materials Prices Helping
Manchester, England, Jan. 29, 2009--Commercial flooring manufacturer James Halstead yesterday reiterated that its full-year sales and profit would be in line with its expectations and ahead of last year's figures.
December New Home Sales Lower Than Expected
Washington, DC, Jan. 29, 2009--Sales of new homes hit a record low in December, the Commerce Department estimated Thursday.
Builders Meritage, Ryland, See Revenues Tumble
Scottsdale, AZ, Jan. 29, 2009--Home builders Meritage Homes Corp. and Ryland saw sales fall significantly in the fourth quarter and losses continued.