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 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
In an article by Reuters in the NYTimes, MHProNews.com has learned home building permits rose 5.1 percent in February, giving rise to economists predictions that home building could contribute to economic growth for the first time since 2005. The adjusted annual rate (AAR) of 717,000 units last month, the highest
Housing Industry Continues to Remove Bandages of Bruising Market Read More
A legal debate is brewing in a Mississippi court regarding the distinction between a modular home and a manufactured home as it pertains to a restrictive covenant in a subdivision. In a case going back to 2006, developers Hudson Holliday and Darrin Harris filed a complaint to have home owners
Manufactured vs Modular Housing in Mississippi Read More
Stocks closed modestly lower Wednesday and the Yahoo Finance Manufactured Housing Composite Index remained unchanged. Those closing higher included Affiliated Managers Group, up .60 cents (.54 percent) to $112.19; Equity Lifestyle Properties, up .09 cents (.13 percent) to $69.14; Patrick Industries, up .41 cents (3.98 percent, making it the day’s
Stocks End Hump Day Lower Read More
According to The Wall Street Journal, the manufactured housing industry may be poised for a rebound. Noting the 42.1 percent increase in MH sales Jan. 2012 over Jan. 2011, and the corresponding six percent decrease of new single-family stick built homes in 2011, the article says home buyers may be
MH on the Comeback Trail? Read More
WoodworkingNetwork informs MHProNews.com Universal Forest Products, Inc. (UFPI) has instituted a software system to document usage of 300 production tools. The new system, called Intooligence, and developed by an Elkhart, IN company of the same name, maintains a database of serial numbers of cutterheads, links to knife sets, keeps track
Software Designed to Track Life of Tools Read More
The AtikokanProgress reports to MHProNews.com from just north of Duluth, Minnesota, in Canada, the Ontario Municipal Board (OMB) dismissed a homeowner’s appeal of a bylaw that would have restricted placement of modular homes. The town had approved the amendment requested by owners of a former MHC who want to build
Modular Development Can Now Proceed Read More
News that building permit requests had risen in the U.S. was not sufficient to counter investors’ fears that China might be entering a manufacturing slowdown, sending the Dow Jones Industrial Average down 68.94 points, -0.52 percent, to 13,170.19, according to CNNMoney. Nasdaq lost -0.14 percent to end at 3074.15, and
Deer Valley Slides, Skyline Falls, Despite Rise in Building Permits Read More
As follow-up to a story we published Feb. 10, 2012, Joe Kelly, executive vice-president of the Manufactured Housing Association of Iowa (MHAI), tells MHProNews.com Iowa’s legislative bill HF 2013 will establish a fund for consumers to borrow money to purchase a manufactured home through the Iowa Finance Authority. The bill
Iowa’s Proposed MH Fund Stymied by Amendment Read More
The National Association of Home Builders tells MHProNews.com the Board of Trustees for its Building Systems Councils (BSC) has chosen Kevin Flaherty as its vice chairman. A 28-year veteran of the building systems industry, Flaherty is vice president of marketing for Genesis Homes and Champion Home Builders in Troy, Michigan.
Kevin Flaherty of Champion Homes Picked for Trustee Position Read More
As a follow-up to a story we published Feb. 28, 2011, TheNowNewspaper in Surrey, British Columbia, Canada tells MHProNews.com modular units used for housing athletes at the 2010 Winter Olympics in Whistler, just north of Vancouver, have been converted into 52 rental apartments for seniors and people with disabilities. Timber
Olympic Village Modular Units Recycled Read More
NorthBayBusinessJournal informs MHProNews.com new California modular kid-on-the-block Healthy Buildings Technology Group finished the first of two showcase Ohome homes in Napa, CA. The roof and wall panels of a 640 square-foot dwelling were hauled to a site in North Napa and assembled in two days. A second Ohome nearly twice
Green-oriented Builder Sets Sights on Modular Homes Read More
The National Association of Home Builders (NAHB) tells MHProNews.com builder confidence as measured by the NAHB/Wells Fargo Housing Market Index (HMI) fell one point to 29 in March after five months of increase. A score of 50 or better indicates more builders see the market as good rather than poor.
Builder Confidence at Highest Point since 2007 Read More
MHProNews.com has learned from IntelligencerCanada Royal Homes Ltd. of Wingham, Ontario won the contract to supply the Canadian Forces Housing Agency (CFHA) at CFB Trenton with a two-story modular home. The 1,437 square foot dwelling will have three bedrooms, 1 1/2 baths, an attached garage, and a fire suppression system
Modular Home for Canadian Armed Forces Base Read More
CNNMoney tells MHProNews.com the Dow Jones Industrial Average edged up 6.51 points on news that Apple’s stock topped the 600 mark as it is poised to pay dividends on its stock. Up eight percent since the beginning of the year, the Dow gained +.05 percent to close at 13,239.13. The
Nobility, Patrick, and UMH End the Day with Nice Gains Read More
CTVBC in Canada reports Ikea is producing a flat-packed do-it-yourself modular home for sale in the U.S. furnished with their signature cabinetry, flooring and wardrobes as well as Energy Star appliances. Priced at $86,500, the 745 square-foot space-saving home, the Aktiv, has an open living/dining/kitchen area, a single bedroom and
Ikea Selling Flat-Pack DIY Homes Read More
