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 …
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 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 …
WillistonHerald in North Dakota reports that Rugby Homes, in business since 1963 and selling RVs in Williston for six years, has hired a full time salesman to sell modular and manufactured housing for the North Dakota-based company. The oil boom in the area, as we have reported previously, has created …
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 …
Global Industry Analysts, Inc. estimates the global prefabricated housing market will hit 829,000 units by 2017. DigitalJournal tells MHProNews.com the U.S. and UK have the majority share of the market, but Australia and New Zealand are the pioneers in the Asian market, although Japan, China, Taiwan and Korea have burgeoning …
A credit union in Michigan is reaching out with their Turning Point Home Loan to people with lower credit scores but with enough financial stability worth the risk. Michigan First CU’s vice president of lending, Chris Maynard says, “Take members who lost their job at the height of the financial …
The Bipartisan Policy Center Housing Commission and the Jack Kemp Foundation will jointly host a timely housing forum in San Antonio, Texas March 6. The forum will feature former Secretary of Housing and Urban Development Henry Cisneros, a co-chair of the BPC’s Housing Commission, San Antonio Mayor Julian Castro, as …
Former HUD Secretary Cisneros to Host Forum on Housing in America Read More
After 43 years, Santiam Homes in Aumsville, Oregon, is transitioning out of business and it’s location will be taken over by J & M Homes, which offers new and repossessed manufactured homes, as well as real estate, financing and construction in-house. The Statesman-Journal tells MHProNews.com Santiam’s owners, Ken and Janet …
Mortgage applications decreased 0.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 24, 2012. This week’s results are adjusted for the Presidents Day holiday. The MBA Market Composite Index decreased 0.3 percent on a seasonally …
Mortgage Applications Decrease in Latest MBA Weekly Survey Read More
HousingWire tells MHProNews.com the Federal Housing Administration (FHA) will raise the mortgage insurance from one percent to 1.75 percent to make up for the drop in the Mutual Mortgage Insurance (MMI) Fund below the Congressionally mandated two percent, to 0.2 percent. The FHA said the increase will add $1 billion …
The Great Southwest Home Show, billed as the World’s Largest Indoor Manufactured Home Show, is packing a wallop of seminars, forums, and workshops in addition to all the vendors and homes from the nation’s foremost manufacturers. March 1 and 2 will be Industry Days with workshops ranging from new financing …
Data from Multiple Listing Services Network PIN shows inventory of single-family homes and condominiums in the Boston area are down 17 percent from last year, number of days on the market declined 12 percent from last year, and median prices are up ten percent. BostonHerald tells MHProNews.com no major downtown …
Jason Boehlert, vice president of government relations for the Manufactured Housing Institute (MHI), shown here explaining the landscape of legislative affairs inside the Washington, D.C. beltway at the MHI legislative session government affairs briefing Feb. 25. His presentation included pending legislation that would provide regulatory relief for the manufactured housing …
Boehlert Addresses MHI’s Winter Legislative Session Read More
The Metropolitan Indianapolis Board of Realtors (MIBOR) reports sales of existing homes climbed 28 percent from a year ago Jan. to 1,344 Jan. 2012. IndyStar says the median price of sold homes increased 4.7 percent to $116,213. However, discounting also rose as home sellers received 88.9 percent of their list …
Mortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted basis from one week …
Congress passed a $150 billion bill that extends the payroll tax reduction and unemployment benefits for ten months without increasing the guarantee fees (g-fees) on Fannie Mae and Freddie Mac. Consideration was at first given to raising the fees as a means to pay for the extension but then dropped. …
NationalMortgageNews tells MHProNews.com Richard Cordray, the recess-appointed head of the Consumer Financial Protection Bureau (CFPB), made his first appearance on Capitol Hill at a meeting with members of the Senate Banking Committee, some of whom want budget oversight and structural changes to the agency. Cordray says the CFPB is similar …
Cordray Ticks off Achievements to Ticked-off Senators Read More
HousingWire tells MHProNews.com while 145 of 146 markets tracked by the National Association of Realtors (NAR) showed a drop in inventory of single-family homes, condos, and town homes by 23.2 percent in January 2012 from a year ago, the median list price fell $2,500 to $185,500 Dec. 2011 to Jan. …
Homes for Sale Inventory and Median Price both Fall Read More
Noting that manufactured homes of today are superior to the “single-wides” of 40 years ago, MHProNews.com has learned from MSNRealEstate that MH appeals to a variety of home buyers. Kevin Flaherty, vice president of marketing at Champion Home Builders says at the affordability level, “People are looking for a comfortable, …
