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Industry News
Growth of the gross domestic product (GDP) jumped to a seasonally adjusted annual rate of 5.7% in the fourth quarter of 2009, up from 2.2% growth in the third quarter, suggesting that the economy now has established a firm footing on the recovery path. For housing, for the extremely high levels of the unemployed and underemployed and for consumers, convalescence from the worst recession in generations will be slow.

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Corporate News
Pella Corporation Trade Segment Manager Jarred Roy has earned the National Association of Home Builders (NAHB) Remodelers Chairman’s Award for Outstanding Service. As Pella’s trade segment manager, Roy develops and leads Pella’s trade marketing initiatives on behalf of the company’s branch network system in support of remodeler, builder, contractor and residential architect relationships.

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Market News
Mortgage application volume rebounded last week, returning the purchase and refinance indexes to levels from mid-December. Rates continue to hover around 5 percent, quite low by historical standards, but are well above the record lows seen in 2009, and hence are not generating substantial refi volume. Rates are expected to rise over the next few months.

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