BloombergBusinessNewsweek tells MHProNews.com manufactured housing shipments rose in Jan. to a seasonally-adjusted annual rate (SAAR) of 60,000, up from 59,000 in Dec. 2011. The number of placements remained the same at 48,000, and dealer inventory was unchanged at 22,000, all SAARs. The average median sales price fell from $62,600 to …
From Housingwire, the Dallas Morning News and other sources, MHProNews.com learns that a recent report from the Commerce Department shows sales of new homes took another tumble. New home sales were down 1.6 percent in February. If you’re a cup is half full kind of person, you might also note …
OriginationNews states according to the Mortgage Bankers Association (MBA), mortgage applications for the week ending March 16 fell 7.4 percent. The refinance share fell to 73.4 percent, the lowest reading since July, 2011, both attributable to the rise in the interest rate. Says MBA chief economist Jay Brinkmann, “With rate/term …
According to HousingWire, Freddie Mac says the 30-year, fixed rate mortgage (FRM) rose from 3.92 percent last week to 4.08 percent this week, the first time it has averaged above four percent since last October. One year ago it was 4.81 percent. The 15-year FRM edged up from 3.16 percent …
NationalMortgageNews tells MHProNews.com Bank of America/Merrill Lynch Global Research analysts say home prices fell 3.2 percent in the second half of last year, but adds prices will bottom out this spring. Last Nov. B of A said housing prices would fall another 4-5 percent this year, but now says but …
B of A: Housing Recovery Happening, as it Heads for the Back Door Read More
In an article by Reuters in the NYTimes, MHProNews.com has learned home building permits rose 5.1 percent in February, giving rise to economists predictions that home building could contribute to economic growth for the first time since 2005. The adjusted annual rate (AAR) of 717,000 units last month, the highest …
Housing Industry Continues to Remove Bandages of Bruising Market Read More
February existing-home sales declined from an upwardly revised January pace but are well above a year ago, while the median price posted a slight gain, according to the National Association of Realtors. Sales were up in the Midwest and South, offset by declines in the Northeast and West. Total existing-home …
From Housingwire, MHProNews.com learns that according to Zillow.com, home prices could fall another 0.7 percent by the end of this year. Zillow arrived at its conclusion through a survey of more than 100 economists and real estate experts. A sharper drop than expected in the fourth quarter Standard & Poor’s/Case-Shiller …
According to The Wall Street Journal, the manufactured housing industry may be poised for a rebound. Noting the 42.1 percent increase in MH sales Jan. 2012 over Jan. 2011, and the corresponding six percent decrease of new single-family stick built homes in 2011, the article says home buyers may be …
The era of the Hispanic homebuyer is upon us, according to the 2011 State of Hispanic Homeownership Report released this week by the National Association of Hispanic Real Estate Professionals (NAHREP). The 36-page document offers an analysis of data on the Hispanic homebuyer market and points to youth, birth rates, …
The National Federation of Independent Business (NFIB) says its Small-Business Optimism Index gained 0.4 points in February to 94.3 marking the sixth consecutive month of gains. The Index is lower than that of February 2011 but is the second highest reading since December 2007, the beginning of the recession. The …
Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway chairman Warren Buffett said recently that if it were practical, he’d buy up “millions” of single family homes. Housing, he said, could be a better asset to hold than stocks. …
Motley Fool Outlines Why Real Estate Will Bounce Back Read More
From Bloomberg, MHProNews.com finds that mortgage defaults are on the rise in Canada. Canada Mortgage & Housing Corp. (CMHC) defaults have soared nine-fold in 20 years, the business paper says, approaching levels reached by Fannie Mae and Freddie Mac in the U.S. at the height of the housing boom. Bloomberg …
From Housingwire.com, MHProNews.com learns that after the sixth consecutive decline in January, home prices are at comparative levels to those a decade ago. The information comes from data insight provided by CoreLogic. Home price fell 3.1 percent in January from a year earlier and dipped 1 percent from December. Depriciation …
Mortgage bankers report applications declined 1.2 percent for the week ending March 2, as refinancing activity slowed. The Mortgage Bankers Association (MBA) reports loan applications fell 1.2 percent on a seasonally adjusted basis, while the refinance index decreased 2 percent from the previous week. Also according to the report, investors …
An item in the Financial Times likely raised an eyebrow or two this week when it dubbed a manufactured housing index the “trailer park indicator.” But it did come bearing good news. The financial index comes from Nicholas Colas, ConvergEx Group chief market strategist and is focused on manufactured housing, …
According to research done by Moody’s Analytics and Equifax, the total balance of outstanding home loans dropped $1 trillion, 10.4 percent, in the last four years, an indication of consumers getting rid of debt. Although mortgage rates are at historic lows, credit remains tight, which MHProNews.com has learned could be …
The Manufactured Housing Association for Regulatory Reform (MHARR) reports to MHProNews.com according to the Department of Housing and Urban Development (HUD) statistics, the MH industry posted its sixth straight month of production increase. Numbers for Jan. 2012 show HUD Code manufacturers produced 3,983 homes, a 42.5 percent gain over the …
The Senate Banking Committee was told by the National Association of Federal Credit Unions (NAFCU) of their opposition to mortgage reform that would eliminate the federal guarantee on mortgages through Fannie Mae and Freddie Mac and other GSEs (government-sponsored enterprises). The plan originally endorsed by the Obama administration would promote …
DSNews tells MHProNews.com the loosening of credit this year will lead to the end of the housing crisis, according to analytics firm Capital Economics. Noting the consistency of credit scores and credit requirements over the past year, banks now lend up to 3.5 times borrower earnings, up from 3.2 times …
