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.
Freddie Mac released the results of its Primary Mortgage Market Survey finding mixed results for both long- and short-term rates, with the 30-year rising slightly and the 15-year falling just as slightly. The 30-year fixed-rate mortgage (FRM) averaged 4.74 percent with an average 0.8 point for the week ending January …
The National Association of Realtors (NAR) reported Thursday that existing home sales rose sharply in December, when sales increased for the fifth time in the past six months. Existing home sales rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 …
Stocks closed modestly lower mid-week and manufactured housing and related stocks were also trading lower. Skyline Corporation and Universal Forest Products were off more than four percent. Cavco’s loss exceeded three percent. Barnes Group, All American Group and Drew Industries were each off more than two percent. The Manufactured Housing …
The Texas Department of Housing and Community Affairs (TDHCA) has released $45 million in mortgage credit certificate authority through its Texas Mortgage Credit Program, a homebuyer program that makes homeownership more affordable by providing a dollar for dollar reduction of a borrower’s tax liability, not to exceed $2,000 annually. The …
Texas Releases Funding to Provide Mortgage Credits Read More
A factory-built home owner in Martinsville, Virginia was highlighted this week in the Martinsville Bulletin for something he didn’t have, a high electric bill. A photo provided with the article shows Danny Clifton holding up his most recent electric bill, which totals $36.46, from Appalachian Power Co. Clifton attributes his …
Factory-built Home Owner has Lowest Electric Bill in County Read More
The Daily Item in Selinsgrove, Pennsylvania ran a story providing some insight into the purchase of a former Penn Lyon home plant by Maryland-based Haven Custom Homes. The article indicates the 40-year-old Haven Homes will make a new line called “Classic Homes by Haven” in the Penn Lyon plant. It …
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey Wednesday for the week ending January 14, finding mortgage loan application volume increased five percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6.4 percent compared with the previous week. MBA …
Housingwire cited statistics from Re/Max Wednesday that indicating home sales rose 13.2 percent in December after five consecutive months of declines. Compared to December, 2009 however, sales were five percent lower. From ground zero of the housing crisis, Re/Max found home sales in Phoenix were up more than twelve percent …
The Commerce Department’s U.S. Census Bureau today released data on new residential construction in December, 2010. Permits for new homes jumped 16.7 percent in December compared with private-sector expectations of a 2.9 percent increase. The department says scheduled changes in building codes in January in California, New York and Pennsylvania …
The Dow closed up fifty points Tuesday but most manufactured housing stocks closed lower. Deer Valley was off more than nine percent, All American Group was off more than four percent and Cavco declined almost three percent. The manufactured housing composite value was off more than four percent.
SmarTrend outlined its top five companies in the Residential Real Estate Investment Trust’s (REIT)’s industry as measured by the price to cash flow ratio. Three of the five involve manufactured housing communities. SmarTrend says Equity Lifestyle Properties has a price to free cash flow ratio of 13.7x based on a …
Cavco Industries announced it will release earnings for the third quarter of fiscal year 2011 on Thursday, January 27, 2011 after the close of market. Senior Management will discuss the third quarter results in a live webcast the following day, Friday, January 28, 2011 at 11:00 A.M. Eastern Time. Investors …
World Interior Design Network reports that The Architecture for Health In Vulnerable Environments (ARCHIVE), an international charity based in the US, recently announced the winners of a global architectural competition inviting architects, designers and health specialists for the building of ‘healthy homes’ for Haiti. The Haitian government-sponsored competition is intended …
Personal Finance Bulletin asks in an article Tuesday, can the recovering middle class aspire to owning a truly green, environmentally friendly home? The authors say part of the key is held by the housing industry, whose fortunes are likewise tied to the middle class and its aspirations to the American …
The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to work on a joint initiative, in coordination with FHFA and the Department of Housing and Urban Development (HUD), to consider alternatives for future mortgage servicing structures and servicing compensation for their single-family mortgage loans. Currently, a …
FHFA Announces Joint Initiative to Consider Servicing Compensation Alternatives Read More
A new report by Global Industry Analysts indicates the global prefabricated housing market had registered a moderate to flat growth during the period 2004 to 2007. The market witnessed a further blow in 2008 and 2009 due to the economic recession. However, the market is on the verge of recovery …
From Indiana and the Star Press comes a report that prefab homes are poised to take off as the economy improves. The article says more U.S. consumers and developers are turning to factory-built housing for speed, quality and energy efficiency. The prefab market, the article says, is positioning itself for …
Haven Custom Homes, a leader in the construction of custom modular homes for more than 40 years, officially announced its acquisition of a new production facility in Selinsgrove, Pennsylvania. The facility was previously part of Penn Lyon Homes, a modular home manufacturer who closed their doors last summer. The company …
Haven Custom Homes Officially Announces Acquisition of PA Facility Read More
Tinamarie Smith, president of the Manufactured Housing Association of Maine shared a letter with MHMSM.com she wrote in preparation for a meeting January 12th with Senator Olympia Snowe and Professor Elizabeth Warren, who is tasked with establishing the new Consumer Financial Protection Bureau (CFPB). The CFPB was created by the …
Maine Exec Asks Regulators to Understand MH Issues Read More
