Tech stocks drove the rally on Wall Street today as news spread of the $24.4 billion leveraged buyout of Dell computer, sending the Dow to just under the 14,000 mark. CNNMoney reports the Dow Jones Industrial Average advanced +0.71 percent, +99.22 points, to end the day at 13,979.30. The Nasdaq …
HousingWire reports that non-profit NeighborWorks America and Wells Fargo have provided $27 million in down payment assistance grants to help 1,624 moderate-income buyers purchase a home. Initially begun in Los Angeles and Atlanta in 2012, the program has provided $15,000 to $30,000 down payment grants to those who meet the …
On the heels of reaching a near-record high last week, the weight of Eurozone politics held sway, sending the Dow down over one hundred points. CNNMoney reports the Dow Jones Industrial Average fell -0.93 percent, -129.71 points, to end the day at 13,880.08. The Nasdaq dropped -1.51 percent, -47.93, to …
All Three Indexes Fall; Cavco and Patrick Take a Tumble Read More
Seacoastonline reports from Saddle River, New Jersey that the image of factory-built homes is notching up, as investors and high-end home shoppers see the benefits of an energy-efficient modular home with all the amenities and strength of a site-built home, customized to order via a 3D monitor and working with …
Daily Markets informs MHProNews the $33.8 billion in multifamily loans that Fannie Mae and its lenders processed in 2012 builts nearly 560,000 units of housing. “In 2012 the multifamily market was strong, with solid fundamentals remaining in place,” said Jeffery Hayward, Senior Vice President, Head of the Multifamily Mortgage Business, …
Signs of an apparent healthy economy pushed the Dow above 14,000. for the first time since 2007, and less than 200 points from its all time high of 14,198.10. Good news from the job market, the manufacturing sector, construction spending and consumer sentiment spurred all three indexes over a one …
Dow Tops 14,000; Gains Spread over Most Stocks we Follow Read More
According to what nationalmortgagenews tells MHProNews, Comptroller of the Currency Thomas Curry says the Consumer Financial Protection Bureau (CFPB) is the “specialist examiner” while the other three regulatory agencies are “general practitioners.” Speaking to consumer compliance examiners, he stresses the importance of regulators working together on Dodd-Frank because “Some of …
GlobeNews reports Cavco Industries, Inc.’s financials for the fiscal third-quarter 2013 reveal net sales remained the same as for same quarter 2012–$114.6 million. Net income was $3 million for both. The first nine months of FY 2013, which ended Dec. 29, 2012 saw sales drop by $.01 million from the …
Although the first month of the year was very strong, with the Dow climbing over 500 points since the year’s beginning, investors clung to the sidelines today as initial jobless claims came in higher than economists expected. CNNMoney reports the Dow Jones Industrial Average nudged down -0.36 percent, -49.84 points, …
Nobility Shines, most Stocks Move Little as Month Ends Read More
Wolfpack Chassis of Kendallville, Ind. has received $125,000 in seed money from non-profit Elevate Ventures’ Indiana Angel Network Fund (IANF), according to what insideindianabusiness tells MHProNews. Starting this winter, Wolfpack, located in northern Ind. near other MH and RV-related firms, will manufacture chassis and chassis components for the manufactured home …
TotalMortgage informs MHProNews if you live in a rural area and meet the income qualifications you may be eligible for a USDA Home Loan, with no down payment, 100% financing including closing costs, government guaranteed and competitive rates. Part of the US Dept. of Agriculture’s Rural Development Single Family Housing …
While stocks remain near all time highs, they fell slightly today on news the economy contracted in Q4 2012. Meanwhile, the Federal Reserve says it will keep its bond-buying program intact. CNNMoney reports the Dow Jones Industrial Average nudged down -0.32 percent, -44 points, to end the day at 13,910.42. …
RTTNews says Equity LifeStyle Properties (ELS) reports revenues for Q4 2012 increased to $171.93 million from $162.32 million for the same period in 2011. Funds from operations (FFO) for the fourth quarter hit $50.3 million, or $1.11 per share, as compared to $44.8 million, or $0.99 per share for the …
According to nationalmortgagenews, newly elected Representative John Delaney (D-MD) will take his seat on the House Financial Services Committee with an eye on reforming the nation’s housing finance system and reducing government intervention. With a background including establishment of a healthcare finance company and organizer of BancAlliance, a community loan …
Freshman Congressman (and Banker) Sets Sights on Housing Read More
CNNMoney says the S&P CaseShiller home price index (HPI) of 20 major metropolitan markets indicates prices in Nov. were up 5.5 percent over Nov. 2011, the largest monthly increase since Aug. 2006, before the housing balloon deflated. As MHProNews understands, rising prices means fewer homeowners will be underwater on their …
A report showing home prices posted their biggest increase in six years was weighed down somewhat by an unexpected drop in consumer confidence. Meanwhile, the Dow and S&P approached new all time highs, currently 14,164 and 1,565, respectively, from Oct. 2007. CNNMoney reports the Dow Jones Industrial Average nudged up …
Skyline, Nobility Gain Nicely; Dow, S&P Approach Records Read More
The timesunion reports 40 housing modules are on their way from the Port of Albany, in New York, to St. John’s, Newfoundland, Canada for housing offshore drilling workers. Manufactured by a Champion Homes plant in Sangerfield, NY, the modular homes are destined for Exxon/Mobil’s Hebron Project that seeks to recover …
StaceyPageOnline says the petition to the Board of Zoning Appeals for a variance by Forest Manor Mobile Home Community in Warsaw, Ind. has been approved. The MHC intends to add 29 homesites. MHProNews has learned there were no objections from neighbors. (Photo credit: gfhomesandland)
According to The Press Enterprise, a Chinese maker of scaffolds for the construction industry is purchasing a former Skyline Corp. RV plant in Hemet Calif., just southeast of LA. Skyline closed the facility in April 2012, eliminating 80 jobs. As MHProNews understands, Elkhart, Ind.-based Skyline maintains a manufactured housing plant …
TradingCharts reports Cavco Industries, Inc. will release its earnings report for Q3 of fiscal year 2013 Thurs. Jan. 31 after the market closes. Senior officials will discuss the results in a live webcast Fri. Feb. 1 at 11:00 AM eastern time. Listen via Internet: http://www.cavco.com under the Investor Relations link. …
