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News and Information Article
NEW YORK, June 23 // -- As the U.S. housing market continues
its slowdown, this weeks news that mortgage rates have reached a four-year
high undoubtedly is unwelcome for those now trying to sell a home, finance
a purchase or cope with adjustable-rate loans.
But what about the multiple industries that are impacted by shifting
conditions in the housing industry?
According to IBISWorld, business information industry analysts, an
"extensive" number of industries stand to be affected by higher mortgage
rates.
"As we try to gauge what rising interest rates will mean for the
economy, its important to remember the interdependency of different
industry sectors, which are not always obvious," said economist Richard
Buczynski from IBISWorld. "Higher mortgage rates will be a drag on an
extensive number of U.S. industries."
IBISWorld tracks more than 720 U.S. industries based on five-digit
NAICS codes. Here is a list of industries for which IBISWorld has
identified consequences due to mortgage rates (presented in order of their
NAICS code):
Single Family Housing Construction
Multifamily Housing Construction
Sawmills and Wood Preservation
All Other Wood Product Manufacturing
Clay Building Material and Refractories Manufacturing
Glass and Glass Product Manufacturing
Ready-Mix Concrete Manufacturing
Concrete Pipe, Brick and Block Manufacturing
Hardware Manufacturing
Lumber, Plywood, Millwork and Wood Panel Wholesalers
Brick, Stone and Related Construction Material Wholesalers
Roofing, Siding and Insulation Material Wholesalers
Other Construction Material Wholesalers
Hardware Wholesalers
Paint, Varnish and Supplies Wholesalers
Floor Covering Stores
Paint and Wallpaper Stores
Hardware Stores
Other Building Material Dealers
Manufactured (Mobile) Home Dealers
Other Nondepository Credit Intermediation
Mortgage and Nonmortgage Loan Brokers
Real Estate and Rental and Leasing
Lessors of Other Real Estate Property
Offices of Real Estate Agents and Brokers
Construction, Transportation, Mining and Forestry Machinery and Equipment
Rental and Leasing
Architectural Services
Building Inspection Services
Other Personal and Household Goods Repair and Maintenance
The 35-year-old IBISWorld provides a portfolio of business information
analysis products for a range of business, professional service and
government organizations, including industry market research, company
research, and economic and demographic information. The companys products
are known for their breadth and depth of research and analysis covering the
entire U.S. economy, incorporating both financial and non-financial
information impacting tracked industries and companies. IBISWorlds
products are available as reports available on the Web
(http://www.ibisworld.com) or for delivery through enterprise subscriptions
for banks, companies and government agencies.
EDITORS: For growth rates or other details on the specific industries
noted, please contact IBISWorlds media contact:
John Buckman, Buckman Communications
412.381.2900 or jbuckman@buckman.biz
This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.
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