On Monday, August 3, the Commerce Department reported total construction spending rose 0.3% in June to $965.7 billion. Economists had expected a 0.5% decline. Meanwhile, construction spending in May was revised slightly upward to a 0.8% decline.
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Is FHA the New ‘Subprime’
Mortgage Loan Market?

As most people know there are no
longer subprime mortgages or Alt–A mortgages with low down payments and little documentation. What remains of the exotic mortgage market are simple no-income verification loans with standard 25% down payments or more.
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