According to HousingWire, CoreLogic offers the following housing scorecard for 2012: 4.2 million home sales, up from 3.9 million in 2011, a six percent increase; first year-over-year sales increase since 2005; REO (real estate-owned) house sales fell 20% to 600,000; new home sales rose three percent to 300,000; short sales …
NationalMortgageNews tells MHProNews Lender Processing Services (LPS) estimates 2.6 million Fannie Mae and Freddie Mac loans may yet be eligible for financing through the Home Affordable Refinance Program (HARP). 50 percent of these have credit scores of 720 or above, including 670,000 with interest rates above six percent. Since the …
Ten Million Borrowers Remain Eligible to Lower Rates Read More
The National Association of Home Builders (NAHB) reports framing lumber prices in random lengths hit $396 per 1,000 board feet Jan. 11, 2013, more than double the $193 price Jan. 23, 2008. As MHProNews has learned, this is substantially higher than the $316 price per 1,000 board feet recorded Oct. …
Investors remained poised to digest corporate earnings reports, as the shares of Apple stock fell and and Dell’s stock spiked. The three major indexes moved little. CNNMoney reports the Dow Jones Industrial Average nudged up +0.14 percent, +18.89 points, to end the day at 13,507.32 The Nasdaq lost -0.26 percent, …
Three Major Indexes, Most Tracked Housing Stocks Move Little Read More
Although the indexes finished up for the second week in a row, the stock market was relatively quiet today as investors mulled over corporate earnings reports, as well as anticipation of corporate earnings reports. CNNMoney reports the Dow Jones Industrial Average nudged up +0.13 percent, +17.21 points, to end the …
Stocks Relatively Unchanged; Drew and Skyline Advance Read More
Although investors continue their angst about corporate returns for Q4 2012, the three major indexes ended the day in positive territory, with the S&P hitting a new five-year high. CNNMoney reports the Dow Jones Industrial Average nudged up +0.57 percent, + 76.29 points, to end the day at 13,466.80. The …
Stocks Gain Second Consecutive Day; S&P Hits New High Read More
The long-anticipated set of mortgage rules, including the qualified mortgage, promised by the Consumer Financial Protection Bureau (CFPB) have finally been released, according to CNNMoney. Designed to correct the lax underwriting practices that led to the housing bubble fiasco, the new rules require documented financial feasibility of repaying the loan …
As GlobeNewswire reports, in order to take advantage of the improving economy and growth of the new home construction market, BlueLinx Holdings Inc. (NYSE:BXC) of Atlanta has filed a planned rights offering with the Securities and Exchange Commission (SEC) to offer $40 million worth of common stock, $38.8 million of …
According to originationnews, the Mortgage Bankers Association (MBA) says despite the interest rate for a 30-year fixed-rate mortgage (FRM) with conforming loan balances having increased nine basis points to 3.61%, mortgage apps rose 11.7 percent for the week ending Jan. 4. This interest rate is the highest in two months. …
Investors were heartened by analysts expecting corporate earnings to grow 3.2 percent in Q4 2012 versus last year, as the three major indexes posted positive results for the day. CNNMoney reports the Dow Jones Industrial Average nudged up +0.46 percent, + 61.66 points, to end the day at 13,390.51. The …
Three Major Indexes Gain; Tracked Housing Stocks Mixed Read More
Institutional investors as well as nontraditional investors are poised with $6 to $9 billion to acquire REO (real estate-owned) properties that many number from 60,000 to 90,000 in the single-family rental market, according to nationalmortgagenews. Keefe, Bruyette & Woods analyst Jade Rahmani says while this may account for only 15 …
The journalofcommerce reports WEQ Britco is set to begin building a 2,000 room modular workforce accommodation complex in northern Manitoba, Canada at the proposed site of Manitoba Hydro’s multi-billion dollar Keeyask power generation plant on the Lower Nelson River. Manitoba Hydro began preliminary work on access road and camp development …
Canadian Project Requires Extensive Modular Housing Read More
Stocks edged down today as investors anxiously awaited corporate returns for the previous quarter. CNNMoney reports the Dow Jones Industrial Average nudged down -0.41 percent, -55.44 points, to end the day at 13,328.85. The Nasdaq dropped -0.23 percent, -7.00 points, to close at 3,091. 81, while the S&P lost -0.32 …
Three Indexes, Housing Composite Slip; LPX Posts Nice Gain Read More
AmmoLand reports from Fremont, Ohio that MH building products maker StyleCrest is teaming with Mossy Oak to produce Wildside Camo Siding for hunting blinds, lodges, cabins and sheds. The extrusion-process camouflage siding will resist UV rays and extreme weather conditions, and is easy to install. As MHProNews has learned, StyleCrest …
The belvideredailyrepublican says Poplar Grove, Ill. officials have nixed plans to annex an additional 600 acres and with it the possibility of an MHC being developed on part of the property. Two developers had proposed a mix of residential and commercial if the annexation occurred, but the village board in …
OriginationNews reports the person who helped plan staffing, enforcement and direction of the Consumer Financial Protection Bureau (CFPB) is now the regional director of the West Region office of the agency in San Francisco, covering 18 western states including Alaska, Hawaii and Guam. Edwin L. Chow is responsible for consumer …
Noting companies will struggle to beat earnings expectations for the last quarter of 2012, Barclay’s said in a report, “We suspect earnings season will be a negative for the market overall.” As investors prepare for the corporate returns, CNNMoney reports the Dow Jones Industrial Average nudged down -0.38 percent, -50.92 …
Major Indexes Slip; Deer Valley, Nobility Homes Slide Read More
BillingsGazette reports nine workers at the newly-opened System Building Solutions (SBS) in Laurel, Mont. are getting on-the-job training building a two-story 20-room modular man camp for the Bakken oil field build-out in western North Dakota. Utilizing resources in the Billings area, SBS is working out of a building previously occupied …
IndyStar reports two-thirds of nearly 50 Indiana public companies traded on large exchanges finished last year with higher stock prices than at the beginning of the year. Included is Elkhart-based Patrick Industries (PATK) whose stock price more than tripled, going from $4.30 to $15.56 a share. Julie Ann Kotowski, director …
The Manufactured Housing Institute (MHI) informs MHProNews that on Dec. 17th MHI staff and members of the manufactured housing industry met with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and staff members to push for housing finance rules that take into account the special challenges of the MH market. …
