MHProNews has learned from HousingWire 15 and 30-year fixed rate mortgages (FRMs) are continuing to drop to historic lows. While last year at this time a 30-year FRM was at 4.55, as of Thurs. July 26 it had dropped to 3.49% from 3.53% the previous week. While the 15-year FRM …
CSRWire reports non-profit National Equity Fund (NEF) and financial giant Morgan Stanley are committing $25 million more in capital to support development of affordable housing and a jump start to local economies in devastated areas following catastrophic tornadoes and flooding. The current Rebuilding Local Economies Fund has reached $125 million. …
For Profit and non-Profit Partner in Disaster Areas Read More
KTVN tells MHProNews UMH Properties, Inc. of Freehold, New Jersey has acquired the age-restricted Meadowood manufactured home community in New Middleton, Ohio. The 123 site community, located on 20 acres, was purchased for $3,400,000, and increases UMH’s holdings to 42 MHCs comprising 9,100 developed home sites in New Jersey, New …
Hoping for stimulus to come later this week from European and U.S. central banks, investors took a break from the markets as indexes nudged down. CNNMoney reports the Dow Jones Industrial Average remained above the 13,000 mark at 13,073.01, losing -2.65 points, -0.02%. The Nasdaq fell as well, dropping -0.41 …
MHProNews has learned from the Manufactured Housing Institute, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), which is charged with coordinating anti-money laundering rules covering over 100,000 financial institutions and businesses that may be utilized to support criminal enterprises, has instituted a new Anti-Money Laundering Program (AML) for …
Anti-money Laundering: MHI’s Templates can Benefit non-bank Lenders Read More
According to SFGate, Federal Reserve data indicates owners’ equity in household real estate fell from the end of 2005 through the last quarter of 2011 by seven trillion dollars, about half of its value. However, it increased by $400 billion in the first quarter 2012, the quickest rate of growth …
Daily Mercury reports from Sydney, Australia a modular house called HOUSE2.0 unfolds out of a box and can be set up within a week ready for the furniture to be brought in. Tektum managing director Nicolas Perren says a developer in Mackay in New South Wales (NSW) has expressed interest …
azstar reports home sellers are benefiting from the reduced inventory of homes for sale. The drastic drop in availability has reached 50 percent in some areas of California since last year, and has dropped 53 percent in San Diego since last summer. Los Angeles has seen a decrease of 49 …
Yahoo!Finance says Elkhart, Indiana-based Skyline Corporation reports for fiscal year (FY) 2012 net sales increased 13% from $162,327,000 FY 2011 to $182,846,000. Manufactured and modular housing sales comprised $109,157,000 of the 2012 total, an 11% increase over the $97,922,000 net sales for 2011. FY 2012 net loss was $19,365,000 as …
TheDailyCourier reports Beverly Granillo, who has been selling manufactured homes in Prescott Valley, Arizona since 1986, says used manufactured homes are selling well in the area because they are 30-50 percent less than new homes. She closed her dealership in 2009 because of the economy but now sells new and …
Lender Processing Services (LPS) says compared to a year ago, fewer home mortgages are delinquent, but the rate rose May to June this year by 3.4%. LPS estimates as of June, 7.14% were behind, including 3.6 million 30 or more days past due, and 1.6 million seriously delinquent. The rate …
Buoyed by hopes central banks in Europe and the U.S. will stimulate the conjoined economies, CNNMoney reports investors drove the Dow Jones Industrial Average above the 13,000 mark for the first time since May as it gained 187.73 points, +1.46 percent, to end the week at 13,075.66. The Nasdaq also …
Deanna Fields, Executive Director of the Manufactured Housing Association of Oklahoma (MHAO), tells MHProNews the Great Southwest Home Show will once again be held at the QuikTrip Center Expo Square in Tulsa, Feb. 28-March 3, 2013. The educational seminars will be held Wed. Feb. 27 before the show. Thurs. and …
Manufactured Housing Show Returns to Tulsa in 2013 Read More
In a study by the American Association of Retired Persons (AARP) written up in SeniorHousingNews, seniors have taken a big hit in foreclosures since 2007, with those 75 and older having a rate of 3.2%, higher than younger members of the 50-plus age group. The foreclosure rate on prime loans …
As follow-up to a story we published yesterday, July 25, concerning the development of 251 manufactured homes in Halekulani, near the southeast coast of Australia, express-advocate-wyong reports opposition is increasing as nearby residents rallied outside the site Wednesday. As owners of the property, the Darkinjung Aboriginal Land Council wants to …
MarketWatch says real estate investment trust (REIT) Sun Communities, Inc. reported its second quarter 2012 financials. For Q2 2012, funds from operations (FFO) increased to $22.7 million, $.77 per share versus $16.4 million in the comparable 2011 quarter, which produced $.70 per share. Net income for the second quarter 2012 …
Following up on our article July 16, 2012, MHProNews has received word the RV/MH Hall of Fame and Museum has far surpassed its goal of raising $100,000 to match the Ingram family challenge in order to keep the Museum open. $10,000 short of their goal only two weeks ago, and …
CNNMoney says Mario Draghi, the president of the European Central Bank, in promising he would do everything necessary to preserve the Euro, sent the Dow Jones Industrial Average flying high, as it gained 211.65 points, rising 1.67 percent, to 12,887.93. The Nasdaq also shot up, gaining +1.37 percent to 2,893.25, …
According to MarketWatch, reflecting an 15 percent increase in revenue from the manufactured housing industry, Patrick Industries, Inc. (+8.19%) of Elkhart, Indiana reported net sales for the second quarter of 2012 rose 39.9 percent, or $33 million, over the $82.6 million of the same quarter in 2011. Net income for …
CNNMoney says according to Zillow, home values rose +0.2% year-over-year in the second quarter to a median of $149,300, the first annual increase since 2007. The real estate listing site also said prices increased 2.1% from the first quarter. Even though overall home prices continue to be 24% down since …
