MSNBC reports the Adversity Index from Moody’s Analytics says the economy improved in all regions of the nation, and though not one state remains in recession, 44 of the 50 are recovering at a snail’s pace. Two states, Alaska and North Dakota are in steady recovery, but five—Rhode Island, Wisconsin, …
With manufactured housing increasing production nine consecutive months, as MHProNews has noted previously, smallcapnetwork says the time might be ripe to get into the manufacturing and modular housing market. Cavco Industries (NASDAQ:CVCO) reports net sales for the entire fiscal year 2012 hit $443,066,000, an increase of 156% over last year, …
RealtyTrac tells NationalMortgageNews foreclosure filings for May 2012 numbered 205,900, the highest rate in three months, a rise of nine percent from April, but four percent lower than May 2011. Default notices and scheduled auctions increased to 109,000 in May, a 12 percent increase over April and 16 percent more …
Bloomberg News says following the burst of the housing bubble that put almost 25 percent of U. S. mortgages underwater, home equity in the first quarter rose to $6.7 trillion, its highest level since 2008, as homeowners refinanced their mortgages in droves, the biggest jump, percentage wise, in 60 years. …
Over a year has gone by since IBISWorld (infamously) predicted the demise of Manufactured Housing (specifically MH retailers) along with nine other industries, including print newspapers. The recent announcement that Advance Publications will cut 600 jobs among four newspapers underscores the valid concerns abut the weakening potential future for pring …
A Year later: IBISWorld, Manufactured Housing and Print News. Read More
Harvard University’s Joint Center for Housing Studies says the $2.8 trillion rise in household wealth last quarter, state revenues expecting to exceed pre-recession levels of five years ago, and the nation’s service sector continuing to grow all trump the static unemployment rate and Europe’s debt crisis, and indicate an economy …
Mortgage Bankers Association (MBA) says the low interest rates led to mortgage applications climbing by 18 percent on a sequential basis for the week ending June 8, 2012, according to NationalMortgageNews, a rate not seen since April 2009. MHProNews.com has learned the increase is seasonally adjusted. Although refinancings accounted for …
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) states the number of metropolitan areas displaying sustained and measurable improvement for at least six straight months fell from 100 in May to 80 this month. Of the 100, 52 remain on the list, and the 28 added …
HousingWire tells MHProNews.com Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent, while a 5-1 adjustable-rate mortgage (ARM) landed at 2.68 percent. Zillow Mortgage Marketplace Director Erin Lantz said she …
OriginationNews tells MHProNews.com primarily as the result of lost home equity, the median net worth of American families plummeted from $126,400 in 2007 to $77,300 in 2010, a drop of 38.8 percent in just three years. According to the Federal Reserve’s Survey of Consumer Finances in 2010, three-fourths of the …
EmergingMoney tells MHProNews.com the result of falling oil prices is cheaper financing and less expensive materials, which helps the global real estate market. Lower priced oil means: Lower transportation costs for material shipments and commuters; generally lower rate of inflation which helps keep interest rates down; lower costs of home …
Moody’s Analytics says in HousingWire stagnant income growth and lack of adequate down payment is driving rental demand higher, with rents increasing five percent in the larger metropolitan markets, and climbing. Multifamily properties of five or more units saw vacancies fall from 12.5 percent at the start of 2010 to …
Core Logic tells MHProNews.com the reason the supply of homes dropped from a nine month average last June to 6.5 months April 2012 is because there are 11 million borrowers underwater who are unable to unload their homes, which restricts supply and increases the price of existing homes for sale. …
TheGlobeandMail in Toronto says a study by the National Association of Realtors (NAR) last year revealed 20 percent of homebuyers in the U.S. are single women. In Canada more than 15 percent of the homebuyers in British Columbia’s Lower Mainland are women, about the same percentage as couples without children, …
Writing in NationalMortgageNews, Paul Muolo says some industry officials are suggesting the Consumer Financial Protection Bureau (CFPB) exclude Fannie Mae, Freddie, Mac and Federal Housing Authority (FHA) loans from its loan origination compensation proposals. MHProNews.com has learned the National Association of Independent Housing Professionals says: “As an alternative to the …
The Manufactured Housing Institute (MHI), responding to a request from the House Oversight and Government Reform Committee regarding regulations that negatively impact job growth in the manufactured housing industry, focused on three major areas of regulatory reform: Regulations authorized by Dodd-Frank; the Manufactured Housing Construction and Safety Standards Act; and …
A line-up of former regulators, lawmakers, and other financial policy makers headed by one-time Federal Deposit Insurance Corp. (FDIC) chairman Sheila Bair will form the Systemic Risk Council to keep tabs on the enforcement of the new regulations under Dodd-Frank. As NationalMortgageNews tells MHProNews.com, the group was organized by the …
SouthCoastToday reports from Acushnet, Massachusetts the town meeting voted 43-33 to institute a three person rent control board for the local MHCs in the community. Proponents say rents have increased much more quickly than in the past, making it tough for seniors on fixed incomes. One MHC owner, saying he …
According to a Mortgage Bankers Association (MBA) survey, the average 30-year fixed-rate mortgage dropped to 3.87%, the lowest rate since MBA started the survey, while the 30-year fixed-rate jumbo loan (greater than $417,500) fell to 4.13%, also the lowest in the survey’s history. Meanwhile, says NationalMortgageNews, applications to refinance loans …
In a Q&A session at Washington, D.C.’s Economic Club, Berkshire Hathaway’s Chairman Warren Buffett said there will not be another recession “unless events in Europe develop in some way that spills over here big-time,” according to BloombergNews. Responding to questions posed by David Rubenstein, co-CEO of Carlyle Group LP, the …
