NAHB Now
- Trump Seeks Nearly $11 Billion Cut to HUD ProgramsPresident Trump has proposed a budget that would cut non-defense discretionary spending by $73 billion for fiscal year 2027, which runs from Oct. 1, 2026, through Sept. 30, 2027. The spending reductions include a $10.7 billion cut — about 13% — for the U.S. Department of Housing and Urban Development (HUD).
- Emerging Green Building Professional Spotlights Innovative Takeaways from IBSThe NAHB IBS Sustainability and Green Building Scholarship aims to provide emerging green builders exposure to the world of high-performance homes and help them jump-start their professional journey by attending the International Builders’ Show (IBS). This year’s winner is Grace Weger, a green builder making a meaningful impact in the world of affordable housing.
- Construction Helps Lead Job Growth in MarchThe U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth was led by construction, healthcare, and transportation and warehousing.
- NAHB Chairman Lays Out Vision for Future of the Federation in New VideoNAHB Chairman Bill Owens has launched Blueprint to 100, a modernization initiative in anticipation of NAHB’s 100th anniversary in 2042.
- NAHB’s Monthly Update Features a Codes Victory and Economic SnapshotThe talking points this month feature news related to federal energy code mandates and the current economic conditions for the housing industry.
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Eye On Housing
- Rising Rates Weigh on Mortgage ActivityMortgage application activity decreased month-over-month as the 30-year fixed mortgage rate rose. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, declined 4.3% from February on a seasonally adjusted basis but remained 30.8% higher than a year earlier. Applications for adjustable-rate mortgages (ARM) also decreased 4.5% month-over-month, while their […]
- Which States and Construction Trades Depend the Most on Immigrant Workers?Immigrants’ share of the construction workforce reached a record high in 2024, with foreign-born workers accounting for more than a quarter of the industry’s labor force (26.3%). The share is even higher among construction trades, for which one in three craftsmen is foreign-born. In several states, reliance on foreign-born labor is especially pronounced: immigrants make […]
- Job Growth Rebounds in MarchThe U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth was led by healthcare, construction, and transportation and warehousing. However, signs of cooling are emerging. Job openings posted their largest decline in nearly a year […]
- Iran Conflict Reverses Decline in Mortgage RatesMortgage rates, which dipped below 6% in February, climbed back up to end the month just under 6.4%. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.18% in March, 13 points (bps) higher than February. The average 15-year rate also increased by the same amount to 5.56%. Despite the recent increase, both rates remain […]
- Consumer Confidence Climbs Despite Oil Price SurgeConsumer confidence in March rose to a three-month high as consumers’ improved view of current business and labor market conditions outweighed weaker future expectations. Despite the increase, consumers remained concerned as inflation expectations surged to a seven-month high due to the Iran war and job worries from economic uncertainty. The labor market differential, which measures […]
