Representing the lowest share of cash home sales since May 2010, 34.4 percent of total home sales in May 2014 were with cash, a drop from April’s 36.9 percent of all cash, according to housingwire.com. CoreLogic’s report says, “The share has fallen on a year-over-year basis each month since January …
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), housing affordability nationwide slipped in the second quarter 2014 for families earning the the U. S. median income of $63,900. 62.6 percent of new and existing homes sold in Q2 were affordable, a slip from 65.5 …
Housing Affordability Slips in Second Quarter, 2014 Read More
The Texas Association of Realtors reports not only did Texas see a rising inventory of homes for sale, but home sales in Q2 of 2014 increased 46.67 percent over the first quarter to 81,272 across the state. The median home price rose 5.87 percent from Q2 2013 to $187,300 for …
Following a story MHProNews last posted Aug. 7, 2014 regarding the sentencing of Marina McCuen for her role in a scheme that defrauded the government of millions of dollars by selling manufactured and modular homes to consumers whose credit information was altered, a second defendant, Roger Dean Bailey, Jr. was …
Second Defendant Sentenced in HUD Code/Mod Home Sales Scheme Read More
The Federal Reserve’s Vice-chairman, Stanley Fischer, says although the economy has added over 200,000 jobs monthly and the unemployment rate is lowering, the labor force participation rate has remained at 62.9 percent, which may indicate dejected workers who have stopped looking for work. This, combined with the soft U. S. …
Fed Vice-chair Concerned Slow Economic Growth is Global Read More
According to rgj.com in Nevada, the Yerington City Council approved development of the Pony Express Village manufactured home community (MHC) with 23 homesites. MHProNews understands the project was first unveiled in October 2009 but was shelved because of the state of the economy. The city stipulates that no homes can …
The Federal Housing Finance Agency (FHFA) wants to use the best elements of both government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to develop a single common security that “will improve liquidity in the housing finance markets,” according to FHFA Director Mel Watt. Currently, Freddie MBS (mortgage-backed securities) trade at …
Single Security Structure to Replace Fannie and Feddie Read More
With more than 25,000 homes sold in 2013, for the second consecutive year Clayton Homes of Maryville, Tennessee has earned the title of America’s Largest Homebuilder, according to ourmidland.com. This honor is based on the total number of site-built homes in 2013 as reported by Builder Magazine, and the number …
The least expensive mortgage in the country during July was in Rhode Island where borrowers paid just 3.4 percent, 0.35 percent below the national average. The highest rate in the nation was 4.1 percent in Nebraska, as CNNMoney informs MHProNews. Over the 30 years of the loan that 0.7 percent …
Best Mortgage Rates available where Jobs are Scarcest Read More
The National Association of Realtors (NAR) informs MHProNews median existing single-family home prices increased in 71 percent of measured markets, with 122 of 173 metropolitan statistical areas (MSAs) based on closings in the second quarter as compared with Q2 of 2013. Forty-seven markets (27 percent) recorded lower median prices from …
The Mortgage Bankers Association (MBA) reports residential mortgage delinquencies have fallen to six percent, according to their National Delinquency Survey, the lowest level since Q4 of 2007, and the fifth consecutive quarter of decline. Mike Fratantoni, MBA’s Chief Economist, informs MHProNews.com that strong job growth and continued increases in home …
MHProNews has been informed Federal Housing Administration (FHA) Commissioner Carol Galante will be leaving her position at the end of the year to become an affordable housing professor at the University of California, Berkeley. With the agency for five years, the last two as commissioner, while the FHA has helped …
With the introduction of FICO Score 9, medical collections will have less prominence in affecting the FICO score as credit worthiness for potential homebuyers, expected to increase by 25 points consumers’ median FICO scores, according to what housingwire.com tells MHProNews. Applauded by the National Association of Realtors (NAR) because it …
FICO: Update Broadens Credit Access. VantageScore: Been There, Done That. Read More
The First American Leading Markets Index (LMI) of the National Association of Home Builders (NAHB) indicates 56 of the approximately 350 metro areas in the U. S. have exceeded or returned to normal levels of economic and housing activity, seven more than one year ago. According to the LMI, the …
The National Association of Home Builders (NAHB) 55+ Housing Market Index (HMI) indicates builder confidence in the 55+ single-family housing market rose three points to 56, the highest second-quarter reading since the beginning of the index in 2008. Builder sentiment is measured by current sales, prospective buyer traffic and anticipated …
According to realestaterama.com, three manufactured housing communities in Moses Lake, Washington all become resident-owned communities, each governed by its own democratically-elected representatives. The 113 homesites comprising Lakeview Terrace, Ponderosa and Cascade Village were part of a portfolio owned by Cascade Communities, Ltd., with $3.3 million financing for the co-ops provided …
Forty-Five community leaders of varied backgrounds from eight counties in Pennsylvania gathered at the Federal Reserve Bank of Cleveland-Pittsburgh, sponsored by CFED’s (Corporation for Enterprise Development) Innovations in Manufactured Housing (I’M HOME), to discuss an initiative for improving the financial, health and environmental outcomes of residents of manufactured homes (MH). …
Pennsylvania Conference Conclusion: Manufactured Housing Critical to Area Read More
Homeownership in the U. S. continues to fall, hitting 64.7 percent, a level not seen in almost 20 years, and according to housingwire.com, the trend is not expected to reverse any time soon. Home price appreciation has been driven by investors buying up homes, not owner-occupant homes. Usually, as MHProNews …
Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) reports mortgage credit increased 0.5 percent from 115.8 in June to 116.4 in July, 2014, according to worldpropertychannel.com. Benchmarked at 100 in March 2012, an index increase indicates credit is loosening while a drop in the index notes tightening of credit. …
According to a new study by the National Association of Home Builders (NAHB), for every $1,000 increase in the cost of a new median-priced home, 206,000 more prospective buyers are forced out of the marketplace. Among the states, the number of households that would no longer qualify for a mortgage …
Each $1k Rise in Home Price Equals 200k fewer Buyers Read More
