EPA Declares Pre-2015 WOTUS Rule Now in Effect
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NAHB worked with Rep. Nanette Barragán (D-Calif.) on legislation aimed at lowering housing costs by establishing a tariff exemption process for building materials. The Housing Tariff Exclusion Act (H.R. 10416) would automatically exempt many home building materials from President Trump’s current and future tariffs and give importers a process to seek exemptions for additional materials.
Facing persistent inflationary pressures, the Federal Reserve unanimously decided at its September policy meeting to raise the federal funds rate to a target range of 3.75% to 4%.
Latest Economic News
Single-family housing starts rebounded in August, but production remains down 4.7% year to date as builders contend with rising construction costs, lot and labor shortages, and economic uncertainty.
The Federal Reserve raised the federal funds rate by 25 basis points at the conclusion of its September policy meeting, bringing the target range to 3.75% to 4%.
Higher mortgage rates, worsening labor shortages and rising material costs are weighing on builder sentiment.