Fishman Opens Branch in Fredericksburg, Virginia
Fredericksburg, VA, August 21, 2023-Fishman Flooring Solutions has opened a new location in Fredericksburg, Virginia.
Today's Flooring News
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The Dixie Group Transitions to Net 30 Terms Across Portfolio
Dalton, GA, August 18, 2023—The Dixie Group (TDG) announced that for orders placed on September 18, all TDG customer accounts will move to standard payment terms of net 30 days.
Tom Sullivan Rescinds Bid to Buy LL Flooring
Roanoke, VA, August 18, 2023-Tom Sullivan has rescinded his bid to acquire LL Flooring, the company he founded, which was formerly known as LL Flooring.
Multifamily Developer Confidence Positive in Q2
Washington, DC, August 18, 2023—Confidence in the market for new multifamily housing was in positive territory for Q2, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB).
Average Mortgage Rate Hits 20-Year High at 7.09%
Washington, DC, August 18, 2023—"The average mortgage rate rose to 7.09%, its highest level in more than 20 years, according to data released Thursday by mortgage giant Freddie Mac,” according to the Wall Street Journal.
Kaleen Refocuses Business Model on Better-Quality Rug Offering
Dalton, GA, August 18, 2023-Kaleen is updating its product offering and service options starting fall 2023 to focus on four key segments: customization, carpets/broadloom, Luxe collection and handmade soft flooring goods.
Some Fed Officials Express Concern about Raising Interest Rates
New York, NY, August 17, 2023—"Most Federal Reserve officials backed an increase in interest rates last month but some saw rising risks that they might raise rates too high, underscoring growing caution about further increases,” reports the Wall Street
Initial Jobless Claims Declined by 11,000 in Week Ending August 12
Washington, DC, August 17, 2023—In the week ending August 12, the advance figure for seasonally adjusted initial claims was 239,000, a decrease of 11,000 from the previous week's revised level, according to the Department of Labor.
Eustis Promoted to SVP U.S. Group Procurement for Toray Plastics America
North Kingstown, RI, August 17, 2023-Toray Plastics (America) announces that John Eustis has been promoted to senior vice president of U.S. group procurement at Toray Industries (America) and now supports the procurement activities of the Toray U.S. Group’s ten companies.
Housing Starts Rose 3.9% in July
Washington, DC, August 16, 2023—Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,452,000, 3.9% above the revised June estimate of 1,398,000 and is 5.9% above the July 2022 rate of 1,371,000, according to the U.S. Census Bureau.