News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little […]
Mortgage Rates Barely Move Read More
To follow up on our report of United Forest Products, Inc. (UFPI)’s Q1 financials, TheStreetRatings has upgraded the company’s stock UFPI:Nasdaq) from hold to buy. Revenue, sales, net income (up 213.2% Q1 2012 compared to Q1 2011), and net operating cash flow have all increased in one year, and some
From ReporterHerald in north central Colorado MHProNews.com learns the former site of modular home manufacturer Barvista Homes is the new home of PTI Group USA. Taking over a 103,000 square foot building, this producer of modular workforce accommodations for oil field workers is out of Edmonton, Alberta, Canada, but is
Former Mod Mfg. Site Making Mods Again Read More
According to Housing and Urban Development (HUD) Secretary Shaun Donovan, 400,000 HARP (Home Affordable Refinance Program) 2.0 applications have been picked up by five of the largest loan servicers. HARP 2.0 is targeted to underwater borrowers with Fannie Mae and Freddie Mac loans. NationalMortgageNews tells MHProNews.com President Obama has proposed
2.0 HARP Applications Going Fast Read More
Weak U.S. economic data including higher-than-expected unemployment claims and a 2.6 percent drop in existing home sales pushed the Dow Jones Industrial Average down -66.83 points, -0.51 percent, to end day at 12,965.92. As CNNMoney tells MHProNews.com, the Nasdaq lost even more, -0.79 percent to close at 3007.56, while the
34 % MH Revenues Help UFPI Stock as Dow Nudges Down Read More
Noting that current underwriting standards are too restrictive and may be holding back a housing recovery, a combination of 33 private firms and non-profit organizations have signed a letter to Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), advocating for a broadly defined Qualified Mortgage (QM) policy, termed
Loosen the Purse Strings, Please Read More
California’s MyMotherLode informs MHProNews.com an Angels Camp, CA company helped replace a hospital that was destroyed during the May 22, 2011 F5 tornado that hit Joplin, Missouri, killing 161 people. Aspen Street Architects assisted in the design of the 150,000 square foot modular building composed of 224 structural steel components,
Modular Hospital Built Quickly Read More
Advfn tells MHProNews.com Universal Forest Products, Inc. (UFPI) reports its first quarter 2012 sales have increased 18 percent and its earning were up $7.8 million over Q1 2011. Its manufactured housing division posted gross sales of $63 million for the quarter, a 34 percent increase over same period 2011. UFPI
UFPI Releases Positive Q1 Financials Read More
The National Association of Home Builders (NAHB) reports overall housing starts declined in March 5.8 percent to a seasonally adjusted annual rate (SAAR) of 654,000 units, primarily due to a 16.9 decline in multifamily starts. Single-family housing starts dropped slightly 0.2 percent to a SAAR of 462,000 units, according to
Housing Starts Decline; Housing Permits Rise Read More
MHProNews.com has learned from 4-Traders Drew Industries. Inc. will release its first quarter 2012 financial results before the market opens Thursday, May 3, 2012. The company will host a conference call that same day at 11 AM to discuss the results. Through its wholly-owned subsidiaries Kinro and Lippert Components, Drew,
Drew to Release Financials Read More
As follow-up to a story we posted Jan. 2, 2012, Stardust Cruisers, the luxury houseboat company in southeastern Kentucky that transformed its production line to build modular homes, has completed its second energy-efficient modular home, utilizing the same material used in making houseboats. Kentucky Highlands Corporation, Kentucky Housing, and the
Houseboats to Houses and Back Read More
Fear of the European debt crisis raised its ugly head again today as the Spanish government reported its banks have more problem loans than originally thought, setting the Dow Jones Industrial Average back modestly from yesterday’s big gain. CNNMoney reports the Dow lost 82.64 points, -0.63 percent, to close 13,032.90.
U.S. Stocks Edge Down from Yesterday’s Boom Read More
Langley, British Columbia-based Britco has been honored with four international awards at the Modular Building Institute (MBI)’s annual convention in Orlando, Florida, according to what MarketWatch tells MHProNews.com. The Canadian company, one of the largest manufacturers of commercial modular buildings in North America, supplied the 2010 Winter Olympics in Vancouver
Canadian Modular Builder Receives MBI Honors Read More
GlobeSt reports from Chevy Chase, Maryland multifamily real estate investment firm Federal Capital Partners (FCP) has invested $29.5 million in a 1,358 manufactured home site portfolio with communities in Pennsylvania, North Carolina, and Maryland. MHProNews.com has learned FCP is teaming with current portfolio owner Horizon Land Co. FCP Managing Partner
Real Estate Firm Buys into MHCs Read More
BusinessInsider says Warren Buffett has been diagnosed with stage 1 prostate cancer. Subsequent CAT and bone scans revealed the cancer has not spread. The Chairman of Berkshire Hathaway, which owns Clayton Homes of Maryville, Tennessee, will begin radiation treatment in July, and says his travel will be restricted during that
Buffett Battling Bad News Read More
The House Financial Services Committee has developed the Dodd-Frank Burden Tracker, a method to keep tabs on the implementation of the Dodd-Frank Act. Government regulators have written 185 of the over 400 new rules and regulations required to comply with the act signed by President Obama in July 2010. According
Dodd-Frank Spawns Burden Tracker Read More
J.D. Pendleton, Executive Director of the Texas Manufactured Housing Association, tells MHProNews.com the San Antonio Quality of Life Committee may propose changes to the city code that affects MHCs. The changes relate to building/rebuilding manufactured homes in a flood plain, signage responsibilities, and possible increased fines for violations. The Quality
Changes Proposed for San Antonio MH Read More
RTTNews reports UMH Properties, Inc., is adding eleven MHCs in Pennsylvania and New York to its portfolio at a cost of $28.25 million. The all-age communities comprise 966 home sites and have an average occupancy of 92 percent. MHProNews.com has learned the acquisition is scheduled to be finalized by the
CNNMoney tells MHProNews.com fear of the European debt crisis took a back seat today as the Dow Jones Industrial Average bolted to just under 195 points, +1.50 percent, to end day at 13,115.54. The Nasdaq gained even more, 1.85 percent to close at 3042.82, while the S&P also gained, +1.55
Dow Has Best Day in a Month Read More
A report from the Manufactured Housing Association for Regulatory Reform (MHARR) dated April 16, 2012 states HUD has returned to its authoritarian roots as it continues to disregard the Reform Act of 2000. MHARR cites its continuing discrimination especially against the smaller manufacturers, which ultimately raises the costs to the
MHARR Lashes Out at HUD Read More
