Pompeo Stands Tall with Home Builders
Former CIA Director and Secretary of State Mike Pompeo began his address to the NAHB Leadership Council today by thanking local home builders in Kansas who supported him earlier in his career when he ran for Congress, and he went on to express solidarity to home builders for all they do to strengthen America.
“The folks who are here from Wichita gave me some incredibly important support back when I first ran for Congress and that’s something I’ll always be grateful to them for,” said Pompeo.
He noted that housing and homeownership are critical to a prosperous and powerful American economy and that the strength of the nation’s economy lies with its small businesses.
“You as home builders know this and work every day to provide the American dream to our citizens.”
Despite global threats from China, Russia and North Korea, Pompeo projected strong confidence in the strength of America and the ideals that make this the greatest nation on earth.
“I am deeply confident we will get another 250 good years in America,” Pompeo said. “Our foundational institutions matter. It’s our churches, synagogues and little league teams, our chambers of commerce, local school boards and small businesses. These are the things that make America unique — and home building and homeownership are an important part of that equation.”
Latest from NAHBNow
The National Association of Home Builders (NAHB) released the NAHB Remodeling Market Index (RMI) for the third quarter, posting a reading of 62—up one point compared to the previous quarter.
For the first time since 2022, the share of new homes with two-story foyers increased, according to the Census Bureau's Survey of Construction (SOC). Despite the increase, the market share of two-story foyers has generally trended downward since 2017, with most new single-family homes being built without a two-story foyer both nationally and regionally.
Latest Economic News
Mortgage application activity declined as the 30-year fixed mortgage rate rose sharply. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, decreased 7.7% month-over-month in September on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were lower by 35.4%.
Mortgage rates rose sharply in September as multiple factors applied significant upward pressure on the U.S. treasury yields. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.86% in September, up nearly 20 basis points (bps) from August.
In 2025, around a quarter of new homes were built with a two-story foyer, slightly up from 2024, according to data obtained from the Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB.