. >> following the fed's from tr rate increase, banks were dwoik rahe raise the prime rate. in other words, how much they charge to borrow money. m & t bank was the first major bank to say its prime rate was going up 4% from 3.75%. city bank quickly followed as did others. get trod pay more. >> yep. especially for a home loan. rates for home loans have hit the highs for the year. according to freddie mac, the average rate on the 30-year fixed rate climbed to 4.3%. it was 3.7% a year ago. the move higher was last week was in anticipation of that rate increase by the federal reserve. >>> higher mortgage rates did not hurt home construction last month. new residential construction climbed 3% to a four month high led by the strongest pace of single family home building since 2007. and it's the lack of single family homes on the market that have helped keep prices high. in the increase in home build kog help alleviate housing's supply issues. >> still ahead, a hot wall street debut for an apparel maker. even as the broader retail industry struggles. >>> new evidence today that la