The new-construction reading is the highest in nearly six years, the Commerce Department says.
U.S. housing starts rose 22.7 percent from October to a seasonally adjusted annual rate of 1,091,000 in November, the Commerce Department said Wednesday. That was higher than the 952,000 forecast by economists and brought the average pace of starts for the past three months to 951,000.
With the maximum amounts for FHA-insured mortgages decreasing nationwide on Jan. 1, one county will see limits drop by 63 percent.
The rural Rocky Mountain county will see its maximum loan amount for mortgages insured by the Federal Housing Administration fall by nearly 63 percent next month after higher loan limits, enacted by Congress five years ago and extended repeatedly, expire on Dec. 31.
Loan limits in Lake County, which is south of Vail and east of Aspen and has fewer than 10,000 residents, will fall to $271,050 from $729,750, according to data compiled by the Mortgage Bankers Association.
A home in the Hamptons is one of the first to be listed in the digital currency.
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Giving remodeling projects as gifts might be the perfect alternative to wrapped boxes this year.
While these presents won't fit under the tree, they could be just the right present, and they increase your home's appeal in the long term.
Consider some of these popular remodels and additions as presents this holiday season.
The weekly volume may reflect recent interest-rate increases. Applications are down 56 percent from 2012.
The plunge follows a slight increase in interest rates. Refinance and home-purchase applications dropped 4 percent and 6 percent, respectively, as investors wait for word from the Federal Reserve on whether it will reduce its bond-buying activity.
"It is a discordant note compared to the more positive data we are seeing in other parts of the economy, including the job market reports and industrial production," said Michael Fratantoni, the association's vice president of research and economics. "Credit tightening could be part of it, rates another part."
An increase in interest rates will squelch refinance activity, report says.
Mortgage-origination volumes could fall as much as 30 percent in 2014, driven by a dropoff in refinance activity as mortgage-interest rates rise, according to a report Tuesday by KBW analysts Bose George and Jade Rahmani.
The analysts forecast residential mortgage-origination volume of $1.15 trillion in 2014, down from almost $1.8 trillion in 2013. That is slightly lower than the Mortgage Bankers Association's forecast of $1.2 trillion.
Purchase activity, however, is expected to be strong with a growth of more than 10 percent.
If your home has a heat pump, get to know when to use this setting.
The experts at the Nebraska Public Power District say this setting is misused more than any other. They advise that the emergency-heat setting only be used when your heat pump is not working properly.
Understanding heat pumps
Heat pumps are basically heat transporters that move warmth from where it's needed or not needed, depending on the season. During the winter, a heat pump extracts outside heat from the air and transfers it inside to be dispersed through your ductwork and home. As temperatures dip, however, the heat pump is not able to pull as much exterior heat to the indoors.
Remodeling activity has increased as more mortgages make it into the black.
Hundreds of thousands of U.S. homeowners are coming back into the black on their mortgages, and that makes them feel better about their homes in general. When people feel better about their homes, they pour money back in.
"We had three new inquiries yesterday," Michael Bruckwick, a busy architect in Bethesda, Md., said on Tuesday. "People may have waited a year or two or three, but it's the reality of life and raising families that keep growing."
Bruckwick says most of his clients have also looked around at buying new homes, but either can't find anything they like or what they do like is too expensive and still needs work. That is why they are choosing to stay put and remodel.