In the best week since Dec. 2011, the S&P 500 finished at its highest level in five years, while the Dow Jones Industrial Average moved up 3.8 percent and the Nasdaq gained 4.8 percent. The market was assisted by the report that the economy added 150,000 jobs in Dec., about …
According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012 …
MHProNews has learned that the 2013 Louisville Show will include a free finance panel discussion that will feature all of the industry’s major lenders, showcasing their latest Dodd-Frank compliant lending programs. The focus of the panel presentation will be for each lender to highlight their top or new lending opportunities …
CNN Reports one day after officially ending his 32 years in the House of Representatives, Barney Frank may be returning to Capitol Hill to temporarily fill the Senate seat of John Kerry who will likely be appointed as President Obama’s Secretary of State. A long-time supporter of manufactured housing, Frank …
According to official statistics from the Dept. of Housing and Urban Development (HUD), the Manufactured Housing Association for Regulatory Reform (MHARR) says production of manufactured housing fell 18 percent from Nov. 2011 to Nov. 2012, 5,332 homes down to 4,365 units. While cumulative production is still up seven percent over …
As originationnews reports, the Mortgage Bankers Association (MBA) says refinancings the last two weeks ending Dec. 28 were at their lowest point since April, as refis dropped 21.6 percent on a seasonally-adjusted basis. The average contract interest rate for a 30-year fixed rate mortgage (FRM) increased one basis point to …
Marcus & Millichap Real Estate Investment Services reports the company has sold Forest Green Mobile Home Park in Hudson, Fla., an all age land lease community just north of Tampa-St. Petersburg, Fla. Originally developed in 1984, Forest Green has 49 single-section and 32 double-section homes, a community pool, recreation area …
Inhabitat reports a division of Warren Buffett’s Berkshire Hathaway has purchased the 579-megawatt Antelope Valley Solar Projects (AVSP) from Silicon Valley solar manufacturer and developer SunPower, worth over $2 billion. Outfitted with SunPower’s super efficient modular photovoltaic trackers, and re-located to Kern and Los Angeles counties, the 3,230 acre facility …
Stocks slipped today after minutes of the Federal Reserve’s Dec. meeting revealed some members of the committee may want to end the stimulus bond buying program earlier than originally anticipated. CNNMoney reports the Dow Jones Industrial Average nudged down -0.19 percent, -21.19 points, to 13,391.36. The Nasdaq fell -0.38 percent, …
HousingWire reports real estate data firm Trulia says home prices increased Dec. 2011 to Dec. 2012 5.1 percent, a distinct rebound from the 4.3 percent drop the previous year. In the largest annual increase to date, asking home prices rose 3.8 percent Dec. to Dec 2012. While Phoenix saw the …
While the number of foreclosures completed dropped by eight percent in Massachusetts from 2011 compared to Nov. 2012, to 7,158, the number completed in Nov. 2012 was down nearly 60 percent from Nov. 2011, according to what nationalmortgagenews tells MHProNews. Meanwhile, this past Nov. marked only the second month in …
According to standardmedia in Kenya, Africa, the National Housing Corporation (NHC), a division of the Ministry of Housing for 49 years (since independence) has only been able to erect 50,000 units of affordable housing per year while the need is for 200,000. NHC is now preparing to build panelized homes …
For the third consecutive year, foreclosure filings have declined 2.2 percent in southeastern Wisconsin in seven counties, including Milwaukee and Kenosha, to 10,475 in 2012. Although foreclosures are declining, their drag on the economy is very strong— short sales make up 23 percent of all homes sold in the seven …
EnhancedOnlineNews reports Intuit, Inc., provider of business and financial management solutions for small and mid-sized businesses, says small business employment increased 0.12 percent in 2012, while small business revenue fell 1.2 percent from Jan. to Nov. Based on Intuit’s data retrieved from its Online Payroll and Online Quickbooks programs, small …
NationalMortgageNews reports over a year after the Senate Banking Committee voted to send Carol Galante’s confirmation to the full Senate as Commissioner of the Federal Housing Administration (FHA), the Senate voted 69-24 to confirm her appointment Sunday during a special session dealing with the fiscal cliff controversy. As MHProNews reported …
The last minute deal to avoid the fiscal cliff sent many U.S. stocks roaring into the New Year, as the three major indexes all gained 2.35 percent plus. CNNMoney reports the Dow Jones Industrial Average spiked 2.35 percent, +308.41 points, to 13,412.55. The Nasdaq jumped +3.07 percent, +92.75 points, to …
Nationalmortgagenews reports from Phoenix, Ariz. as the number of lender-repossessed homes on the market declined 43 percent from Nov. 2011, the median price of previously-owned homes and condos hit $167,500, the highest level since Oct. 2008 when the median price was $175,000. MHProNews has learned, according to DataQuick of San …
The Manufactured Housing Institute informs MHProNews that the passage of the legislation by Congress to avert the “fiscal cliff” included extension of tax credits for Energy Star manufactured and modular homes. The New Energy Efficient Home Credit expired at the end of 2011 and has been extended to Dec. 31, …
Archinect tells MHProNews as part of a settlement between the U.S. Environmental Protection Agency (EPA) and the Tennessee Valley Authority (TVA) for alleged violations of the Clean Air Act, the University of Kentucky College of Design in cooperation with two non-profits will build four more energy efficient modular homes with …
The Associated Press reports in a further sign the job market is improving, first-time jobless claims fell to a seasonally-adjusted 350,000 last week, the lowest level since March 2008. The four-week average of 356,750 is almost a five-year low. However, since many state unemployment offices were closed Mon. and Tue. …
