CNNMoney reports investors, buoyed by European Central Bank President Mario Draghi’s remarks that the bank would provide more cash to deal with problems, especially Greece’s ongoing crisis, grew optimistic, pushing U.S. stocks higher as all three indexes gained. The Dow Jones Industrial Average gained +114.28 points, +0.90%, to end the […]
Nobility Drops Crown, Sun Rises, Dow Gains Read More
MSNBC reports the Adversity Index from Moody’s Analytics says the economy improved in all regions of the nation, and though not one state remains in recession, 44 of the 50 are recovering at a snail’s pace. Two states, Alaska and North Dakota are in steady recovery, but five—Rhode Island, Wisconsin,
Moody’s Adversity Index Pinpoints Weak Areas Read More
Slovenian architectural studio Coodo has designed a series of modules that can be coupled horizontally or vertically to provide large household space, or used separately for a playroom or guest house. The thick polyester panels stretched over a galvanized steel frame provide thermal insulation. Two modules can comprise a two
A New Offering from the MOD(ern) Squad Read More
With manufactured housing increasing production nine consecutive months, as MHProNews has noted previously, smallcapnetwork says the time might be ripe to get into the manufacturing and modular housing market. Cavco Industries (NASDAQ:CVCO) reports net sales for the entire fiscal year 2012 hit $443,066,000, an increase of 156% over last year,
HUD Code and MOD Stocks: Buy Now! Read More
StateJournal reports from West Virginia Governor Earl Ray Tomblin has extended the executive order that suspends the consumer sales service tax and use tax on manufactured and modular housing purchases, as well as on certain building materials, in the wake of the flooding and wind damage that hit the state
Gov. Extends Executive Order Read More
LasVegasSun tells us Mountain View Community MHC in Henderson, Nevada changed hands earlier this year when Hometown America Communities sold the property to Equity Lifestyle Properties, Inc. (ELS). Leases under Hometown America stipulated that rents could increase a minimum of 3.5 percent with 90 days notice. ELS has told residents
Home Site Rents to Rise in Nevada Read More
KeystoneEdge in Pennsylvania reports Ben Franklin Technology Partners of Northeastern Pennsylvania invested $60,000 in high-end modular home builder Taylored Building Solutions in Taylor, Lackawanna County, to update a computer program for tracking financial functions. Ben Franklin Technology Partners (BFTP) is a venture capital investment company that partners start-up tech firms
MOD Builder Receives Funding Read More
Investors gained hope that central banks, including the Federal Reserve, will provide additional liquidity to financial markets if necessary in the wake of elections in Greece on Sunday, as all three indexes registered gains. CNNMoney tells us the Dow Jones Industrial Average gained +155.53 points, +1.24%, to close at 12,651.91.
Nobility Regains Crown; Most Tracked Housing Stocks Rise Read More
RealtyTrac tells NationalMortgageNews foreclosure filings for May 2012 numbered 205,900, the highest rate in three months, a rise of nine percent from April, but four percent lower than May 2011. Default notices and scheduled auctions increased to 109,000 in May, a 12 percent increase over April and 16 percent more
Foreclosure Floodgates Opening? Read More
Bloomberg News says following the burst of the housing bubble that put almost 25 percent of U. S. mortgages underwater, home equity in the first quarter rose to $6.7 trillion, its highest level since 2008, as homeowners refinanced their mortgages in droves, the biggest jump, percentage wise, in 60 years.
Refis Reduce Mortgage Term Read More
Over a year has gone by since IBISWorld (infamously) predicted the demise of Manufactured Housing (specifically MH retailers) along with nine other industries, including print newspapers. The recent announcement that Advance Publications will cut 600 jobs among four newspapers underscores the valid concerns abut the weakening potential future for pring
A Year later: IBISWorld, Manufactured Housing and Print News. Read More
Harvard University’s Joint Center for Housing Studies says the $2.8 trillion rise in household wealth last quarter, state revenues expecting to exceed pre-recession levels of five years ago, and the nation’s service sector continuing to grow all trump the static unemployment rate and Europe’s debt crisis, and indicate an economy
Think Tank Thinks Up Read More
Mortgage Bankers Association (MBA) says the low interest rates led to mortgage applications climbing by 18 percent on a sequential basis for the week ending June 8, 2012, according to NationalMortgageNews, a rate not seen since April 2009. MHProNews.com has learned the increase is seasonally adjusted. Although refinancings accounted for
Mortgage Applications Spike Read More
All three indexes lost under one percent as investors sold off near the end of the trading day, worrying about the continuing debt crisis in Europe and falling oil prices. CNNMoney tells us the Dow Jones Industrial Average lost -77.42 points, -0.62%, to close at 12,496.38. The Nasdaq fell -0.86
Falling U.S. Market Pulls MH Stocks Down Read More
The MarionStar in Marion, Ohio tells MHProNews.com the 1,525 square foot modular house that students in construction technology at Tri-Rivers Career Center have been building since Jan. 2011 will be auctioned off June 18. The three bedroom, two bath home is based on a design from Unibilt Industries. The buyer
Modular Student-built House to be Auctioned Read More
The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) states the number of metropolitan areas displaying sustained and measurable improvement for at least six straight months fell from 100 in May to 80 this month. Of the 100, 52 remain on the list, and the 28 added
Improving Markets Index Falls Read More
The State Journal-Register in Springfield, Illinois says Timber Creek Living MHC in Springfield won the Community of the Year Award for the Midwest at the 2012 Manufactured Housing Institute’s (MHI) National Congress and Expo for Manufactured and Modular Housing. The 55-and-older community is comprised of 200 residents living in 125
MHC Wins National Award Read More
9and10news from Michigan reports Lippert Components, Inc. out of Goshen, Indiana announces Jeffey Few has been hired as the newly-created Director of Product Development to hone in on state-of-the-art technology and automation in design, machinery, and production. Few has experience in automotive and architectural design as well as a strong
Passages: Jeffrey Few Read More
HousingWire tells MHProNews.com Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent, while a 5-1 adjustable-rate mortgage (ARM) landed at 2.68 percent. Zillow Mortgage Marketplace Director Erin Lantz said she
30-Year FRM Drops Again Read More
Berkshire Hathaway has offered to purchase the loan portfolio and mortgage division of Residential Capital LLC, known as ResCap, which filed for bankruptcy last month, according to Bloomberg BusinessWeek. A subsidiary of Ally Financial Inc., which make loans to auto buyers and finances auto inventories, and which itself is owned
Buffett’s Berkshire Shopping at Bankruptcy Court Read More
