A larger than expected drop in jobless claims last week was the result of one large state not filing their quarterly report, not the result of more jobs being filled. YAHOO! Finance reports the Labor Department said jobless claims fell by a seasonally-adjusted rate of 30,000 last week, resulting in …
In the latest weekly report from the Mortgage Bankers Association (MBA), nationalmortgagenews says mortgage applications dropped 1.2 percent for the latest weekly reading Oct. 5 following a 16.6 percent spike for the previous week ending Sept. 28. Refi applications accounted for 83 percent of the apps, much the same as …
According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned …
RVBusiness says manufactured home and recreational vehicle manufacturer Skyline Corp. has reported an improved net loss for its first quarter 2013, as well as a slight drop in sales. This quarter loss amounted to $3.5 million as compared to a $6.8 million loss a year ago. Total sales fell from …
According to Senior News Weekly, the National Center for Policy Analysis (NCPA) reports Baby Boomers 45-64 are experiencing high mortgage and health care expenses while their retirement and savings dwindle, leaving them short of sufficient income to retire. Real incomes for those middle-aged to older have stagnated in the last …
Speaking at the Federal Reserve Bank of New York, HousingWire tells MHProNews Federal Reserve Governor Elizabeth Duke says the 1.6 million vacant houses across the nation are stalling a housing recovery, as well as harming surrounding house values. Those not on the market in particular present a danger because they …
The Daily News reports housing permits for Gloucester County, Virginia on the Chesapeake Bay from Aug. 2011 to Sept. 2012 increased to 128, including 97 single-family, 14 multi-family and 17 manufactured housing permits. The previous 12 months total was 108 permits, with the Gloucester County Planning Commission issuing 79 single-family, …
In past years, start-up companies have generated three million new jobs annually, but that number has fallen below 2.5 million since the beginning of the recession. According to CNNMoney, Economist Tim Kane of the Hudson Institute states in the 1980’s and 1990’s 11 jobs were created by start-ups per every …
Friday’s jobs reports from the U.S. Bureau of Labor Statistics shows mortgage lenders have added a total of 18,400 employees since January, 2,800 (full-time) of them in August 2012, bringing the overall total to 280,500 jobs in the mortgage banking and brokerage sector. According to nationalmortgagenews, this marks the sixth …
The National Association of Home Builders tells MHProNews the NAHB/First American Improving Markets Index (IMI) indicating positive movement in the housing industry rose four notches from last month to include 103 metropolitan markets. Measuring housing permits, employment and house prices for at least six consecutive months, the Oct. reading marks …
In his take on the presidential debate Wed. night, Paul Muolo of OriginationNews notes Romney peppering Obama about the Qualified Mortgage rule that awaits finalization by the Consumer Financial Protective Bureau. MHProNews has learned Muolo finds it impressive that Romney knows what a QM is, and suggests Obama likely does …
In a poll conducted by CNN Wednesday night after the presidential debates, 67 percent of the respondents said Gov. Mitt Romney bested Pres. Obama, while only 25 percent said Obama won. CNN Polling Director Keating Holland said it’s the only time since the question was initially asked in 1984 that …
Matthew Iglesias, writing in Slate magazine, notes that durable goods—appliances, furniture, vehicles, airplanes— are primarily mass-produced in factories because that is the most cost-effective way to produce the least expensive product for the consumer, and the highest wage for the worker. Some of these products occupy space in homes, which …
The Manufactured Housing Association for Regulatory Reform tells MHProNews the U.S. Department of Housing and Urban Affairs (HUD) has released figures indicating August becomes the thirteenth consecutive month of growth for the production of manufactured homes. Statistics indicate HUD Code manufacturers produced 5,580 homes in Aug., an increase of 7.5 …
Encouraged by a variety of signs, fourteen economists surveyed by CNNMoney believe the housing market has finally turned the corner on its way back to health. Only three months ago half of those surveyed did not believe the turnaround would come until next year, or later. The economists cite three …
HousingWire reports CoreLogic says in its Pending Home Price Index home prices in August rose 4.6 percent over a year ago, the biggest increase year-over-year since July 2006, but only 0.3 percent over July, 2012. When distressed sales are excluded, August home prices rose 4.9 percent over a year ago. …
IndyStar reports the sale of existing homes in the greater Indianapolis metropolitan area rose 12.3 percent in August over August, 2011, according to the Metropolitan Indianapolis Board of Realtors, although the sales pace was slower than the period of April through July. August 2012 sales totaled 2,593 versus 2,308 last …
RealtorMag says home prices may not return to their peak of 2007 for ten years, especially in Nevada, California, Florida, and Arizona, according to analytics firm Fiserv. Noting average prices fell a full one third from 2007 to 2012 across the nation, Fiserv predicts prices will rise 3.7 percent a …
WashingtonExaminer says a poll of manufacturers and small business owners commissioned by the National Association of Manufacturers (NAM) and National Federation of Independent Businesses (NFIB) reveals 55 percent would not have started their businesses in today’s economic climate. Additionally, 69 percent say President Obama’s regulatory policies have hurt their business …
The National Association of Home Builders reports the pace of new home sales held steady in August at the seasonally-adjusted annual rate (SAAR) of 337,000 units, virtually unchanged from July, according to data from HUD and the U.S. Census Bureau. NAHB Chief Economist David Crowe says, “This latest report indicates …
