Construction spending fell during November. - 2005-01-03
The nation's industrial sector finished 2004 on a high note, with manufacturing activity expanding in December for the 19th consecutive month, a research group reported. But the government said construction spending dropped in November as builders reined in projects in anticipation of higher interest rates.

Most analysts expect home sales will moderate in 2005, in large part on the expectation that mortgage rates will move higher this year.
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Metro home sales boom may not last - 2005-01-03
Metro Detroit home builders had a strong year in 2004 despite the sputtering local economy, but a projected rise in mortgage interest rates and pending changes in energy codes could cool sales in the year to come.

Interest rates were relatively unchanged for the year, with a 30-year fixed-rate mortgage averaging 5.45 percent last week among 70 lending institutions in southeastern Michigan. A year ago, the same rate was slightly higher at 5.55 percent.
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