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.
OriginationNews tells MHProNews.com FHA-backed single-family mortgages fell almost ten percent in Feb. from the previous month as lenders originated $16.5 billion in loans. According to HUD, lenders originated $8.4 billion of FHA loans and $6.8 billion of refinanced loans. Purchases fell 18 percent from January. Funding of reverse mortgages totaled […]
Single-family Loans Fall in Feb. Read More
SeekingAlpha reports the manufactured housing industry sub-sector is the smallest sector in the FTSE NAREIT Index. MHProNews.com says the Index has different methods to rate the performance of commercial real estate investment and property sectors. It notes as of the end of Feb. 2012, there were 126 equity REITs (real
REIT Investment Offers Good Return Read More
As home prices fell for the fifth consecutive month, hitting their lowest point since Q4 2002, investors shied away from urging the market higher. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped -43.90 points, -0.33 percent, to close at 13,197.73. The Nasdaq
Investors Cautious, Housing Stocks Mixed, Patrick Gains Read More
At a League of Women Voters (LWV) forum on affordable housing in Midland, Texas, it was noted the housing shortage is evidenced in the availability of only 150 homes for sale in this west-central city of over 100,000. A one bedroom apartment now costs $900/month, and the increase each time
In a press release, MarketWatch says NADAguides Manufactured Housing CONNECT provides instant valuation of homes from 1963-2012, in a web-based application, with adjustments for geographic location, community and loan valuation guidelines, condition, accessories, and repairs needed. The guide helps lenders, retailers and community owners evaluate MH. The release says NADAguides
Guidelines Provide Value of MH Read More
AL reports over 80 percent of the residents of Madison County, in northern Alabama, live in large apartment complexes, often with extensive amenities for the government contract workers in Huntsville. As a result, according to the U.S. Census, only 5.5 percent of the county live in manufactured housing, which distinguishes
MH Stats in N. Alabama Read More
WickedLocal tells MHProNews.com Massachusetts State Sen. Marc R. Pacheco has scheduled a forum March 30 in Middleborough in the southeastern part of the state to review manufactured housing laws. In coordination with the attorney general’s office and the Department of Housing and Community Development, this forum will be for Plymouth
Forum to Review MH Guidelines for Residents Read More
From the headquarters in Concord, New Hampshire of ROC (resident-owned communities) USA, LLC President Paul Bradley informs MHProNews.com Michael Bullard has joined the ROC team as Communications and Marketing Manager effective April 9, 2012. For nearly ten years Bullard has been Executive Editor of the Cecil Whig newspaper in Cecil
ROC USA Selects New Manager Read More
StLToday says the Joplin Globe reports some homeowners in tornado-ravaged Joplin, Missouri are up in arms because modular homes are being sited next to more expensive houses. In one case a Habitat for Humanity low-income home was built across from a $280,000 house, and a modular home of lesser value
Joplin Rebuilds but with Some Aggravation Read More
In the biggest gain since Jan. 3 when the Dow rose 180 points, CNNMoney tells MHProNews.com the Dow Jones Industrial Average moved up 160.90 points, + 1.23 percent, to close at 13,241.63, as Fed Chairman Ben Bernanke indicated to a group of economists the interest rate will remain low for
Dow Posts 2nd Biggest Gain of Year; UMH and Patrick Rise as Well Read More
Although it requires twice the manpower, takes three times longer, and nearly doubles the cost to deconstruct a home than demolish it, a Cleveland company, A Piece of Cleveland, and the Cleveland Institute of Art are conducting a test program to make furniture, mill work, and other items from the
Making Dollars from Distress Read More
BloombergBusinessNewsweek tells MHProNews.com manufactured housing shipments rose in Jan. to a seasonally-adjusted annual rate (SAAR) of 60,000, up from 59,000 in Dec. 2011. The number of placements remained the same at 48,000, and dealer inventory was unchanged at 22,000, all SAARs. The average median sales price fell from $62,600 to
MH Shipments Rise Again Read More
In an rent vs. buy index of the 100 largest metropolitan areas in the nation, Trulia has determined it is a wiser decision to buy in 98 of them. The top ten cities where buying a home is a better deal: Detroit, Oklahoma City, Dayton Ohio, Warren-Troy-Farmington Hills Michigan, Toledo
Attention Shoppers: The Time to Buy is Nigh Read More
Building Code Commissioner for Iowa’s Department of Public Safety, William “Stuart” Crine passed away March 20 at age 51. He previously was a Tennessee State Fire Marshall. Joe Kelly, of the Manufactured Housing Association of Iowa, said Stuart was the only full time building code commissioner for many years. “Stuart
Passages: Stuart Crine Read More
Stocks ended the week higher and the Yahoo Finance Manufactured Housing Composite Index gained nearly three percent. The gain was recorded in energy stocks which offset a report showing purchases of new homes unexpectedly fell. Stocks related to the manufactured housing industry that ended the week on the upside include
Stocks End Week on a High Note Read More
OriginationNews states according to the Mortgage Bankers Association (MBA), mortgage applications for the week ending March 16 fell 7.4 percent. The refinance share fell to 73.4 percent, the lowest reading since July, 2011, both attributable to the rise in the interest rate. Says MBA chief economist Jay Brinkmann, “With rate/term
Mortgage Apps Fall as Interest Rises Read More
According to HousingWire, Freddie Mac says the 30-year, fixed rate mortgage (FRM) rose from 3.92 percent last week to 4.08 percent this week, the first time it has averaged above four percent since last October. One year ago it was 4.81 percent. The 15-year FRM edged up from 3.16 percent
30-year FRM Rises Above Four Percent Read More
Despite unemployment claims hitting a four-year low, investors were more concerned about economic growth hitting a soft spot in China and Germany, causing alarm among investors. CNNMoney tells MHProNews.com all three markets lost ground today, as the Dow Jones Industrial Average dropped 78.48 points, -0.60 percent, to close at 13,046.14.
Tracked Housing Stocks All Hit the Skids Read More
NationalMortgageNews tells MHProNews.com Bank of America/Merrill Lynch Global Research analysts say home prices fell 3.2 percent in the second half of last year, but adds prices will bottom out this spring. Last Nov. B of A said housing prices would fall another 4-5 percent this year, but now says but
B of A: Housing Recovery Happening, as it Heads for the Back Door Read More
In a short video, Baristanet informs MHProNews, Fredco Modular Homes of Passaic, New Jersey details the erection of an Excel four bedroom, two bath, two-story modular home in one day. Since 1979 the Fredco Group has been involved in site development, golf course/sports field construction, and landscaping/hardscaping, including the construction
Two-story Modular Sited in One Day Read More
