Industry Updates

The House today overwhelmingly approved the 21st Century ROAD to Housing Act, advancing to President Trump legislation that NAHB helped shape through a years-long advocacy effort to significantly boost housing production. “NAHB applauds lawmakers for working in a bipartisan, bicameral way to pass historic housing legislation that will deliver real benefits for the American people,” said NAHB Chairman Bill Owens. “The 21st Century ROAD to Housing Act will help expand the nation’s housing supply by reducing regulatory barriers and encouraging local governments to reform zoning and land-use policies that have limited home building.” Top 5 Provisions This once-in-a-generation housing package…

A recent report from KHQ highlights the growing challenges many Spokane residents face as housing affordability continues to tighten. With rising home prices, increasing mortgage rates, and the broader impact of inflation, more individuals and families are finding it difficult to enter the housing market or maintain stable living situations. ▶ Watch the KHQ Housing Story The piece also features insight from SHBA Executive Officer Joel White, who offered his expertise on the current housing landscape and the factors driving affordability concerns. His perspective helps provide valuable context around the economic pressures impacting both builders and buyers in today’s market.…

This April, mortgage rates continued to increase as ceasefire negotiations remain inconclusive. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.34% last month, 16 basis points (bps) higher than in March. The average 15-year rate also increased by 13 bps to 5.69%. Despite the recent increase, both rates remain lower than a year ago by 39 bps and 21 bps, respectively. The 10-year Treasury yield, a key benchmark for long-term borrowing, averaged 4.31%, up 7 bps from March. Ongoing blockades in the Strait of Hormuz have kept oil prices above $100 per barrel. This has passed through to inflation which climbed to…