MHProNews has learned while many indicators continue to show improvement in the housing market, sales of existing homes nudged down 0.6 percent in March from Feb. to an annualized rate of 492,000, but rose 10.3 percent from last Feb. CNNMoney reports average time homes were on the market fell from …
CNNMoney informs MHProNews Federal Reserve Governor Sarah Bloom Raskin says now that the housing market is improving, middle class families who have not been able to take advantage of the low interest rates may now have that opportunity. Speaking at the Levy Economics Institute’s Minsky Conference, Raskin said, “As house …
As the population growth in rural communities is challenging the parameters set by the U. S Dept. of Agriculture’s rural housing programs, Senators Tim Johnson (D-SD) and Pat Roberts (R-KS) have proposed a bill to raise the population cap from 25,000 to 35,000 so homeownership continues to be available for …
Homeownership Lending to be Maintained in Rural Areas Read More
CNNMoney tells MHProNews some industry experts forecast the housing recovery may not last. While home prices have risen eight percent, investors are driving the surge, taking advantage of low interest rates and depressed home prices. When rates and home prices rise, the recovery may stall, especially as investors receive a …
Wired tells MHProNews the Dutch city of Nijmegen is collaborating with over 20 architects to provide a range of 29 modular flat pack affordable homes for first-time homebuyers. Targeted to those with annual incomes of $40,000 to $60,000, the stylish designs are far better than the block homes that were …
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) survey reports builder confidence dropped two points to a composite score of 42 in March as concerns over rising material costs, tight credit, shortages of skilled labor and available lots nag at the market for newly built, single-family …
According to nationalmortgagenews, bankers were relieved when the Consumer Financial Protection Bureau (CFPB) released its qualified mortgage rule (QM) in January, which gives the lender protection if a borrower defaults. But now some bank executives are hesitant to make loans outside the QM rule, and worry they could be rapped …
SevenDaysVermont tells MHProNews two small Vermont schools will be competing against 18 mostly larger schools in the U. S. Dept. of Energy’s biennial Solar Decathlon to be held in October at Irvine, Calif. While this will be Norwich University’s first trip to the competition, Middlebury College placed fourth in its …
Modular Homes from Vermont Schools in Solar Decathlon Read More
The Texas Manufactured Housing Association (TMHA) informs MHProNews that the House Urban Affairs Committee of the Texas Legislature voted in support of HB 2954. Administered by the Manufactured Housing Division of the Texas Dept. of Housing & Community Affairs, the measure would establish a down payment assistance program for manufactured …
Bill would Offer Down Payment Assistance for MH Buyers Read More
MarketWatch informs MHProNews manufactured and modular home builder Deer Valley Corp.’s wholly-owned subsidiary, Deer Valley Financial, Inc., (DVF) has entered an agreement to provide CIS Home Loans with a $2.5 million line of credit to increase its portfolio of retail mortgages for buyers of manufactured and modular homes. This will …
Loans more Available for Factory-built Home Buyers Read More
MHProNews has learned from the National Association of Home Builders that House Resources Committee Chairman Rep. Doc Hastings (R-Wash.) has drafted legislation that would increase timer production on federal lands which in turn would help maintain healthy forests. Justin Wood, vice president of construction for Fish Construction NW Inc., based …
Rising Wood Prices could Hamper the Housing Market Recovery Read More
As MHProNews has learned from CNNMoney, the seasonally-adjusted annual rate (SAAR) of housing starts topped one million in March for the first time since June 2008, 1.4 million, seven percent better than Feb. 2013 and a 47 percent improvement since last March, primarily attributable to the growth in multifamily construction …
NationalMortgageNews informs MHProNews the composite index default rate for first time mortgages gained five basis points from February, 2013 and a 46 basis point improvement from March a year ago, according to S&P/Experian Consumer Credit Default Indexes. The composite index for first mortgage loans ended March at 1.41%, compared to …
MHProNews has learned from the National Association of Home Builders (NAHB) figures released by HUD and the Census Bureau indicate total housing starts—single-family and multifamily– rose by seven percent in March, propelled by a 31.1 percent increase in new multifamily construction. As we have reported several times earlier, the rental …
MoneyMorning tells MHProNews residential construction is currently 2.44% of the gross domestic product (GDP), half of its historical norm, even with last year’s increases in new home construction. According to a Bloomberg survey of economists, housing starts are expected to increase by roughly 20% this year, and over the next …
Economists Expect Home Construction to Rise nearly 20% Read More
Following up on a story MHProNews posted April 12, 2013 concerning a Delaware initiative to provide up to $5,000 to help manufactured home owners in financial hot water, we have learned Del. manufactured homes are registered through the Dept. of Motor Vehicles like automobiles, a throwback to the early days …
BusinessInsider tells MHProNews the chief economist at Gluskin Sheff, David Rosenberg, citing the drop in mortgage applications from a year-over-year rate of 16% in Jan. 2013 to only three percent today—they fell 1.3 percent the week ending April 5– says U. S. housing demand is beginning to slow. He says …
M & W Trailer Sales opened in Escondico, Calif. in 1959 when customers had two carpet choices—avocado green or harvest gold, and Noel Williams (the ‘W’) lived on the lot in a trailer with his wife. Now called M & W Home Sales, and located in Hemet, Calif., The Press …
CNNMoney tells MHProNews evidence strongly suggests the real estate nightmare is coming to an end, as, according to data provider CoreLogic, home prices over the past year rose in 92 of the 100 largest real estate markets. Sales volume increased in 69 of the top 100 markets and 35 showed …
Canada.com informs MHProNews MHC owner Larry Gaudreau, noting that communities built in the 1940’s and 1950’s have deteriorating infrastructures that cannot be replaced without moving residents out, says the government needs more affordable housing for these people, as well as to meet future needs. “More than 50 per cent of …
British Columbia needs more Manufactured Housing Communities Read More
