NAHB Podcast: Inflation, Remodeling and Drama on Capitol Hill
Editor’s note: This episode was recorded on Oct. 12, in advance of Congressman Scalise dropping out of the House speakership race.
On today’s episode of Housing Developments, co-hosts CEO Jim Tobin and SVP Paul Lopez discuss the latest inflation numbers and what they mean for housing, the economy’s impact on remodeling, and the current drama taking place on Capitol Hill.
Listen to Housing Developments on your favorite podcast app or watch the episode below.
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
In the third quarter of 2026, the NAHB Remodeling Market Index (RMI) posted a reading of 62, up one point compared to the previous quarter. The RMI has remained within a narrow band between 59 and 70 for the past four years.
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.