NAHB Now's Latest Posts
FHA Raises 2021 Loan Limits
The Federal Housing Administration (FHA) has announced its loan limits for 2021. The nationwide rise in median home prices indicates most buyers across the country will see increases.
Suburban Shift for Home Construction Continues into Third Quarter
A trend of higher demand for housing in lower-density areas reported in the second quarter NAHB Home Building Geography Index (HBGI) has persisted into the fall, as single-family and multifamily construction continued to overperform in lower cost markets like suburbs and exurbs.
Commerce Department Cuts Lumber Tariffs from 20% to 9%
With lumber prices experiencing extreme price volatility this year and harming housing affordability, a final determination of the first administrative review by the U.S. Commerce Department to reduce duties on shipments of Canadian lumber into the United States by more than half is good news for American home builders and home buyers.
Fannie Mae, Freddie Mac Conforming Loan Limits to Rise in 2021
The Federal Housing Finance Agency (FHFA) today announced that the maximum baseline conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2021 will increase to $548,250 from $510,400.
IRS Says Businesses with Forgiven PPP Loans Cannot Deduct Expenses
Businesses that get their Paycheck Protection Program (PPP) loans forgiven will not qualify for some valuable deductions, according to IRS guidance that reiterates its position taken in April. In addition, companies that have “a reasonable expectation that the government won’t require them to pay back the money can’t deduct the business expenses paid for by the loan.”
FHFA Announces New Capital Rules for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency (FHFA) today sent a final rule to the Federal Register that establishes a new regulatory capital framework for Fannie Mae and Freddie Mac (the Enterprises).
FHFA Announces Fannie Mae, Freddie Mac Multifamily Loans Purchase Caps for 2021
The Federal Housing Finance Agency (FHFA) today announced that the 2021 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $70 billion for each Enterprise. The cap structure allows the Enterprises to offer a combined total of $140 billion in support to the multifamily market.
FHA’s MMIF Capital Reserves Climb in Fiscal 2020
The Federal Housing Administration (FHA) today released its annual report to Congress that shows the agency’s capital reserve ratio of its Mutual Mortgage Insurance Fund (MMI Fund) ended the fiscal year at 6.10% — an increase of 1.26 percentage points over the fiscal 2019. This is well above the congressionally mandated 2.0% capital ratio.
Some Buyers Perceive an Uptick in Affordability
The Housing Trends Report for the third quarter of 2020 shows that 27% of buyers report being able to afford half or more of the homes for sale in their markets. A year earlier, the share was 20%.
Construction Wages Top the National Average
Half of payroll workers in construction earn more than $49,030 and the top 25% make at least $68,690, according to the 2019 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by NAHB. In comparison, the U.S. median wage is $39,810, while the top quartile (top 25%) makes at least $64,240.
