Congress Extends Government Funding Through Early March
With funding for the U.S. Department of Housing and Urban Development and about 20% of the rest of the government set to expire at midnight on Friday, the House and Senate today approved a short-term spending bill that will keep HUD and a few other government agencies funded through March 1 and about 80% of the rest of the government funded through March 8.
Of note to the housing community, funding for the National Flood Insurance Program will be extended through March 8.
House and Senate leaders have decided on a topline budget for fiscal year 2024 — $1.59 trillion in discretionary spending. The hard work is deciding how to allocate this total figure among the 12 individual spending bills that provide the full-year budget for the federal government.
The continuing resolution to maintain overall spending at fiscal 2023 levels until early March is intended to buy time for lawmakers to pass a set of annual spending bills that will fund the government through fiscal 2024, which ends on Sept. 30, 2024.
As the entire appropriations process moves forward with HUD and other relevant agencies, NAHB will continue to monitor developments closely and weigh in as appropriate.
Latest from NAHBNow
Advocacy
Aug 07, 2026
Key Codes Bill Clears Senate Panel
On Aug. 6, the Senate Committee on Homeland Security and Governmental Affairs advanced the NAHB-supported Promoting Resilient Buildings Act, legislation that would help communities maintain local control over building code adoption while encouraging stronger preparation for and recovery from extreme events.
Advocacy
Aug 07, 2026
NAHB’s Monthly Update Features Tariff and Economic Updates
Stay informed on the issues shaping the residential construction industry by reviewing the monthly update talking points. The latest edition features messages related to tariffs and the economy.
Latest Economic News
Economics
Aug 07, 2026
U.S. Labor Market Softens in July
The U.S. labor market weakened in July, with nonfarm payrolls down 23,000 and downward revisions cutting another 103,000 jobs from May and June.
Economics
Aug 06, 2026
Multifamily Developer Confidence Weakens in Second Quarter
Confidence in the market for new multifamily housing weakened year-over-year in the second quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices.
Economics
Aug 06, 2026
Mortgage Rates Climb Again as Iran Conflict Re-escalates
Re-escalation of the conflict in Iran pushed mortgage rates higher in July. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.54% in July, up 5 basis points (bps) over June. Since the conflict in the Middle East began, the 30-year mortgage rate has climbed by almost 50 bps.