MhproNews.com has learned from the HuffingtonPost that Federal Reserve Chairman Ben Bernanke says foreclosure is not a good way to deal with delinquent mortgage holders because it leads to deteriorating houses and depression of area home prices. In a report sent to the housing affairs and banking services committees of …
A report from the BOI Fair 2011 in Bangkok, Thailand, says the Siam Cement Group (SCG) of Thailand is looking to invest five billion dollars in Southeast Asia, especially Vietnam, Indonesia and the Philippines, countries where it already has a strong presence. As BusinessMirror tells MHProNews.com, in keeping with the …
Florida author Jim Boeglin tells MHProNews.com that while economists study manufacturing reports, employment numbers, building permits, consumer confidence surveys, etc., to tap into the state of the U.S. economy, he counts dump trucks. Writing in the NaplesNews, he says from 2003 to 2006 Southwest Florida was crawling with dump trucks. …
MHProNews.com has learned from NationalMortgageNews the minutes from the Federal Open Market Committee (FOMC) meeting Dec. 13 reveal disappointment that attempts by the government to stimulate a housing recovery, combined with low interest rates and increasing employment, has had little effect. Response to the expansion of the Home Affordable Refinance …
Congress and Republican Presidential hopefuls may be calling for an end to the mortgage giants Fannie Mae and Freddie Mac, but a new White Paper from the Federal Reserve says a larger role is what’s needed. MHProNews.com has learned from CNBC.com that the Fed released the document suggesting Fannie and …
From the Journal in Crosby, North Dakota, MHProNews.com has leaned that an oil boom is fueling dramatic growth in building permit numbers. In 2011 160 permits were issues in Crosby, an increase over the 100 issued in 2010. Another 11 homes were placed in a single permit for Crosby Meadows …
Economic activity in the manufacturing sector expanded in December for the 29th consecutive month, and the overall economy grew for the 31st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The report was issued Tuesday by Bradley J. Holcomb, chair of the Institute …
HousingWire reports David Blitzer, chairman of Standard & Poor’s Index Committee, says when current home prices are adjusted for inflation, they are back to 2001 levels. This suggests the rapid rise and decline of home prices did little more than create havoc for the economy. “Allowing for a dip in …
RealtorMag quotes Frank Northaft, chief economist at Freddie Mac, as saying, “”Mortgage rates ended the year hovering near historic lows in an already affordable housing market,” noting the 3.95 percent mortgage rate for the 30-year FRM. The rate only crossed the five percent line twice in 2011. He says a …
MHPronews.com has reported several times about the North Dakota oil boom that is drawing thousands seeking well-paying jobs, spiking the demand for ASAP housing. “Man camps”, modular dormitories for mostly male oil field workers have sprung up around Williston, ND. Some people are sleeping in cars, tents, and RVs. The …
NationalMortgageNews tells MHProNews.com that originations of government-backed Home Equity Conversion Mortgages (HECM) have fallen by 950 to 1150 loans a month. October and November both saw 4,650 reverse mortgages a month, a drop from 5,600 and 5,800 a month in August and September, respectively. Wells Fargo, Bank of America, and …
According to the Harvard University Joint Center on Housing Studies, in the first half of the decade 1.3 new households formed each year, but that fell to less than one million a year since 2005. Part of that is declining immigration, but 20-30 year-olds who have been reluctant to form …
The Telegram reports from Worcester, Massachusetts, that building permits for single and multifamily dwellings were down 55 percent for the first ten months of 2011. Timothy M. Warren, chief executive of the Warren Group, which publishes Banker and Tradesman, tells MHProNews.com he expects home sales to increase slightly in 2012, …
MHProNews.com has learned from OriginationNews that according to Freddie Mac, mortgage rates are well below comparable rates from a year ago even though they edged up a little from last week. The average rate for a 30-year fixed rate mortgage (FRM) rose four basis points to 3.95 from last week, …
CEO of StreetTalk Advisors Lance Roberts sees home prices continuing to fall another 10-15 percent, and overall economic growth will be about one percent, lass than half of other analysts who are predicting 2-2.5 percent growth. In an interview with HousingWire he says, “ There is a current belief that …
The National Association of Realtors (NAR) reports pending home sales reached its highest level in 19 months, increasing 7.3 percent from Oct. to Nov. 2011. Measuring mortgage contracts signed as an indicator of possible home closings, the index reached 100.1 in November, 5.9 percent higher than the 94.5 index last …
MHProNews.com has learned from BloombergNews that October 2011 shipments of manufactured housing rose to a seasonally-adjusted rate of 62,000, up from 55,000 homes shipped in September, according to U.S. Census Bureau figures. This figure is well above the recent six month average of 51,000 homes. Placements fell on a seasonally-adjusted …
From Virginia and the Tidewater News, MHProNews.com finds a tale about housing woes there. One builder quoted in the article says he went an entire year without a housing start. The article confirms, Southampton County experienced a 15-year low for new-home starts in 2011. To date 2011 had just 39 …
From Housing Predictor, MHProNews.com has learned that record high prices farmers are being paid for crops in the Mid-West are pressuring home prices and inflating values there. According to the article, in 2012 15 states will witness at least some cities with inflating home prices. This is largely due to …
Crop Prices and Other Factors May Contribute to Housing Inflation in 2012 Read More
MHProNews.com learned from CNNMoney that new home sales rose in November. The report, released by the U.S. Census Friday, indicates the annualized rate of 315,000 is up 1.6 percent compared with the revised October rate of 310,000 and 9.8 percent higher than November 2010. It all may be adding up …
