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
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
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
Harkening back to a story we have covered several times, the last being May 29, 2012, the RapidCityJournal reports from Box Elder, South Dakota, the Box Elder Planning and Zoning Commission continues to have questions abut Bob Akers’ Wagon Wheel Estates MHC being converted from 125 factory-built homes to 175
Not Enough Green Space for MOD Community? Read More
EmergingMoney tells MHProNews.com the result of falling oil prices is cheaper financing and less expensive materials, which helps the global real estate market. Lower priced oil means: Lower transportation costs for material shipments and commuters; generally lower rate of inflation which helps keep interest rates down; lower costs of home
Falling Crude = Real Estate Recovery Read More
Moody’s Analytics says in HousingWire stagnant income growth and lack of adequate down payment is driving rental demand higher, with rents increasing five percent in the larger metropolitan markets, and climbing. Multifamily properties of five or more units saw vacancies fall from 12.5 percent at the start of 2010 to
Rental Market Growing Read More
ModularHomeCoach reports the United States Department of Agriculture (USDA) has instituted a program through its Rural Development Housing division to lower interest rates and monthly payments for thousands of borrowers who have loans made or backed by the USDA. The pilot program, designed to improve the housing market, is being
USDA Offering Refinancing to Homeowners Read More
Fears that the $125 billion bailout of Spain’s banking system will not be enough to stem the tide of the European debt crisis kept investors against the wall as all three indexes lost over one percent today. CNNMoney tells us the Dow Jones Industrial Average lost 141.83 points, -1.13%, to
Dow Falls, Most all Tracked Housing Stocks Follow Suit Read More
Core Logic tells MHProNews.com the reason the supply of homes dropped from a nine month average last June to 6.5 months April 2012 is because there are 11 million borrowers underwater who are unable to unload their homes, which restricts supply and increases the price of existing homes for sale.
Underwater Mortgages Drive Prices Read More
TheGlobeandMail in Toronto says a study by the National Association of Realtors (NAR) last year revealed 20 percent of homebuyers in the U.S. are single women. In Canada more than 15 percent of the homebuyers in British Columbia’s Lower Mainland are women, about the same percentage as couples without children,
Single Women Buying Up the Land Read More
SidneyHerald in Montana says the Sidney School Board is short of housing for faculty at West Side Elementary School and may lease or buy a set of nine modular apartments from M Space, a national modular general contractor. Each unit would have three apartments, and all apartments could be under
Modular Housing for Faculty? Read More
Writing in NationalMortgageNews, Paul Muolo says some industry officials are suggesting the Consumer Financial Protection Bureau (CFPB) exclude Fannie Mae, Freddie, Mac and Federal Housing Authority (FHA) loans from its loan origination compensation proposals. MHProNews.com has learned the National Association of Independent Housing Professionals says: “As an alternative to the
CFPB to Exclude GSEs from LO Comp? Read More
The Manufactured Housing Institute (MHI), responding to a request from the House Oversight and Government Reform Committee regarding regulations that negatively impact job growth in the manufactured housing industry, focused on three major areas of regulatory reform: Regulations authorized by Dodd-Frank; the Manufactured Housing Construction and Safety Standards Act; and
MHI Responds to House Committee’s Letter Read More
Hopes that Spain’s banking system will be bailed out by central banks in Europe led to the best week of the year for U.S. stocks as all three indexes registered gains. CNNMoney tells us the Dow Jones Industrial Average gained +93.01 points, +0.75%, to close at 12,554.20. The Nasdaq rose
All Tracked Housing Stocks Register Gains Read More
SooToday says the Federal Government of Canada has announced a $31,500 grant to the Missanabie Cree First Nation people to cover legal expenses for the establishment of a modular home building plant that will employ First Nation peoples building homes for their members in the Sault Ste. Marie area. The
Canadian Govt. Helping Fund First Nation Modular Plant Read More
LoanSafe reports from Wichita, Kansas, the Wichita Eagle says six MHCs in the Wichita area owned by American Residential Communities, Inc. (ARC) will be auctioned off online June 26 and 27. The Denver-based owner is offering nearly half of its local portfolio, comprising 830 homesites, which are 40 percent occupied
ARC Selling Communities in Kansas Read More
A surprise rate cut by China’s central bank to encourage market growth spurred investors, but the rally was short lived following Fed Chairman Ben Bernanke’s assertion that no stimulus was imminent but may be utilized in the future. Still, CNNMoney tells us the Dow Jones Industrial Average managed to show
Indexes Mixed, Bernanke Nixes Stimulus (for now) Read More
A Los Angeles architecture and interior design family business is recycling classroom trailers into low-cost but chic modular homes. According to the LATimes, research+recycle can seam two of the units that measure 24 feet by 40 feet together or reconfigure the individual units, as well as raise the ceilings 15
Classroom to Classy Home Read More
