Homebuilders

New residential construction increased 11.2% to an annualized rate of 1.5 million in February, according to government data released Tuesday.

An ex-Biden administration official suggested potential challenges in identifying lands that have access to both employment opportunities and infrastructure.

Measures of current sales of single-family homes and prospective-buyer traffic, dropped to their lowest levels since the end of 2023.

Issuances fell in January for residential and multifamily segments, as concerns over available workers and future tariffs came to the fore.

The average size of purchase applications fell below the $400,000 mark, reflecting first-time home buyer interest, the Mortgage Bankers Association said.

With focus turning to increased domestic production, the Chicago Mercantile Exchange plans to launch a new lumber futures trading exchange in late March.

The builder's lending unit bought servicing and secondary market approvals that weren't part of Guild's previous acquisition of CCM's production and branding.

The postponement would pertain to Federal Housing Administration-insured single- and multifamily loans and other final determination dates that have not passed.

American lumber producers have alleged that the Canadian lumber system amounts to a subsidy — a charge Canadians deny — and the countries have fought over tariffs on those products for decades.

President Donald Trump is set to announce changes to the tariffs on Canada and Mexico he slapped on earlier this week, with potential relief for automobiles and other sectors, according to Commerce Secretary Howard Lutnick.