originationnews says while home values are expected to rise around four percent this year, the increase is driven more by low inventory than by rising demand. The rise in some markets is due to investors buying especially lower-priced homes, and flipping them in six months to a year as prices …
The three major indexes did not move more than 0.19% up or down today as investors waited to hear whether the European Central Bank will protect the Euro, and what the U.S. jobs report due out on Friday will yield. The Dow Jones Industrial Average gained +0.09 percent, +11.54 points, …
The Three Indexes Move Little; Patrick Gains, Louisiana Loses Read More
CNNMoney tells MHProNews first time jobless claims held steady last week at 374,000, the first time in three weeks the rate did not increase, according to the Labor Dept. Approximately 3.3 million people received their continuing unemployment benefits during the week. Paul Dales of Capital Economics predicts the jobs report …
For the second time in two months, residents of a manufactured home community in the State College, Pennsylvania area have been notified they need to find a new place to live. This time, according to centredailytimes, Hilltop Mobile Home Park sent letters to those who own their homes this past …
nationalmortgagenews tells MHProNews the CoreLogic house price index (HPI) rose 1.3 percent in July, marking the fifth consecutive monthly increase, and following the same increase in June over May 2012. The HPI is up 3.8 percent over July 2011, which is the largest increase year-over-year since Aug. 2006. CoreLogic’s chief …
Manufacturing activity dropped for the third consecutive month and construction activity slowed, sending the Dow Jones Industrial Average down to 13,035.94, losing -54.90 points, -0.42 percent, according to CNNMoney. The Nasdaq gained slightly, moving up +0.26 percent to 3,075.06, while the S&P lost -0.12% to 1,404.94. The Yahoo! Finance Manufactured …
Roger Bull’s Sunday Notebook in jacksonville reports the sale of two manufactured housing communities in Jacksonville, Florida to Rufus & Roxy LLC of Bainbridge Island, Washington. An extensive Google search led to the owner, Scott Fallows, who bought Sunny Oaks North Mobile Home Park and Briarwood Mobile Home Estates, which …
MHProNews has learned from the Manufactured Housing Association for Regulatory Reform (MHARR) statistics compiled by the U. S. Dept. of Housing and Urban Development (HUD) show HUD Code manufacturers produced 4,221 homes in July of this year, a 14.8 percent increase from July 2011 when 3,676 homes were manufactured. This …
A reader tells the Las Vegas Review-Journal he purchased a new manufactured home in 2006 for $85,000 with $50,000 down and financed the balance for 20 years at 6.5%. The loan balance is $30,500 and the home is assessed at $56,000, but he cannot find a lender to help him …
In an indication that home values are rising and that home purchase transactions are slowly increasing, nationalmortgagenews tells MHProNews the two year slide of mortgage debt— mortgage servicing rights, or MSRs— triggered by the housing crisis, has come to an end. Residential consumer debt rose from $8.9 trillion Q1 2012 …
CNNMoney tells MHProNews while Las Vegas has the record for the worst foreclosure rate in the country, the following cities had the fastest-growing rate in 2010. Spartanburg, South Carolina had a foreclosure rate of one in 60 homes, a 228% increase in 2010, due to questionable mortgages and unemployment that …
According to nationalmortgagenews all 12 Federal Reserve banks reported improvements in residential real estate in their districts, as noted in the Beige Book. Compiled on Aug. 20, the snapshot says the housing market is “positive with continued increases in activity expected.” While the Philadelphia and Kansas City banks remain cautious …
Federal Reserve District Banks upbeat on Housing Market Read More
Oak Tree Development of Cambridge, Mass. has been chosen by the Federal Real Estate Investment Trust to develop the residential section of a 222,000 square foot retail plaza in Reading, Massachusetts, according to PRWeb‘s story based on a Boston’s weekly Real Reporter article. Oak Tree tapped Keiser Maine, a division …
Frontiersman tells MHProNews the Builders Choice, Inc. plant in Meadow Lakes, Alaska outside Anchorage goes through 5,000 board feet of lumber each day making trusses for man camps for the North Slope, six-plex housing units, and airplane hangars. While currently only 27 people work at the facility, Builders Choice opened …
In his annual speech at Jackson Hole, Wyoming, CNNMoney tells MHProNews Federal Reserve Chairman Ben Bernanke talked up providing more stimulus for the economy, saying the two previous rounds of asset purchases improved financial markets and led to two million jobs. Previously, the Fed intimated it would provide stimulus only …
In a speech at Jackson Hole, Wyoming Fed Chairman Ben Bernanke hinted that the Fed is ready to provide additional stimulus to the economy, which boosted the three indexes for the end of the week and month. CNNMoney reports the Dow Jones Industrial Average moved up 90.2 points, +0.69 percent, …
Housing Composite, Most Tracked Housing Stocks Gain Read More
nationalmortgagenews reports the National Association of Realtors (NAR) says July pending home sales rose 2.4 percent over June to a two-year high, after falling in June 1.4 percent from the previous month. The trade group is forecasting home sales will rise nine percent this year and eight percent in 2013, …
Positive economic indicators during the week, including signs that the economy grew faster than originally reported and that the housing market is improving, put the damper on investors hoping Ben Bernanke will offer more stimulus in his speech tomorrow, driving the three major indexes down. CNNMoney reports the Dow Jones …
Ronnie Richards of American Homestar Corp. tells MHProNews a report by HousingWire reveals while mortgage rates have hit record lows since the beginning of the year, the effective interest rate has not changed because the Federal Housing Administration (FHA) raised its insurance premiums due to its troubled emergency insurance fund, …
Rising FHA Insurance Raises Effective Interest Rate Read More
Gizmag tells MHProNews the Mini House from Sweden is a prefabricated modular home that arrives flat-packed and can be assembled in two days. Creator Jonas Wagell says all the modules can be recycled or combusted except the sliding glass door that opens on to the terrace, which gives a larger …
