Here at Financial Relief Law Center we strive to continually analyze the housing industry, and post the latest in news to help you better grasp what’s happening in the economy and inform you on how you can improve your housing situation. The government recently posted their economic analysis for the month of May. The report stated that construction on new homes rose 17.2 percent in May, the third increase in a row. This report is higher than forecasted expectations, which could show signs that the economy is getting stronger not weaker, or at best it’s leveling off. Apartment buildings and condominiums were on the rise too, despite the weak production in April.
Other facts worth noting: Rates on 30 year fixed mortgage rose to more than 5.5 percent, from its low of 4.8 percent. Construction of multifamily units rose 61.7 percent in May to an annual rate of 131,000.
http://www.nytimes.com/2009/06/17/business/economy/17econ.html?_r=2&hp