The U.S. Department of Housing and Urban Development (HUD) and the Department of the Treasury, in their April 2012 housing scorecard, report mortgage delinquencies are significantly below levels of a year ago, having declined four straight months; and sales of existing homes in the first quarter were 5.3 percent better […]
Housing Outlook Promising, but Still Mixed Read More
The United States Bureau of Labor Statistics (BLS) reports mortgage companies added 2,700 full-time employees in March and another 2,800 in April, bringing employment in the mortgage and brokerage sector to 267,600 in March, almost 3,000 more employees than in Feb. of this year. OriginationNews tells MHProNews.com while employment in
Mortgage Firms add Workers Read More
BloombergNews reports non-farm employment grew by only 115,000 in April, according to the Labor Dept., just enough to reduce the unemployment rate by .01 percent, down to 8.1. That brought the three month average increase down to 176,000 a month, a drop from the 252,000 average in February. However, the
Job Growth Shrinking, Congress Gridlocked, Federal Reserve to the Rescue? Read More
Following the $25 billion settlement reached in March with mortgage servicers, Ohio’s attorney general Mike DeWine has begun granting $75 million of Ohio’s $335 million to local governments for demolishing abandoned homes. According to what HousingWire tells MHproNews.com, Ohio’s 10,000 dilapidated homes are pulling down home prices and turning away
Ohio Demolishing Blighted Homes Read More
In Freddie Mac’s weekly primary market survey, the average rate for a 30-year fixed rate mortgage (FRM) fell to 3.84% from 3.88% a week earlier, marking a new low, according to OriginationNews. The previous low was 3.87% for the week ending Feb. 9. The 15-year FRM also fell to a
FRMs Drop to New Lows Read More
OriginationNews says, according to the Census Bureau, the inventory of vacant homes for sale in Q1 2012 dropped to 1.65, 18 percent lower than one year ago. The number of vacant homes for sale was last below 1.6 million six years ago. MHProNews.com has learned from Census Bureau data the
Vacant Homes Sales Price Hitting Bottom? Read More
NationalMortgageNews reports the Texas Association of Realtors says the volume of home sales increased the first quarter by 12 percent, including 45,502 single-family homes. The median price of the houses sold rose 2.7 percent over the same period last year, to $147,100. The inventory of houses on the market dropped
The Rising Star of Texas Read More
The American Association of Retired Persons (AARP) reports the Pew Research Center says over 20 percent of adults 25-34 live in a multigenerational setting, the highest level since the 1950s. The so-called Boomerang Generation are moving in with relatives due to economic necessity. The Washington Post says the recession cut
Household Growth Remains Slow Read More
The Commerce Department says construction spending grew +0.1% from Feb. to $808.1 billion in March, six percent higher than the $762.6 billion of March 2011, and notes the suggestion of improvement in the housing industry. Meanwhile, the LATimes says, the Institute for Supply Management (ISM) reports in their index the
The Economy Nudges Upwards Read More
SBWire reports ModularHomesNetwork (MHN) says the modular housing industry is stabilizing after losing a number of manufacturers in 2011. With more starts this year than last, and growth in the multi-family market, MHN notes Q1 modular housing growth in the New England area, New Jersey, and upper Midwest as well
Modular Home Building on the Rise? Read More
Benzinga tells MHProNews.com the Pending Home Sales Index rose to 101.4 in March, up 4.1 percent from the 97.4 figure in Feb. 2012. Based on signed real estate contracts for all types of housing, the Index is 12.8 percent above March 2011 when it was 89.9, according to the National
Signed Sales Contracts=Good Q2? Read More
According to NationalMortgageNews, Lender Processing Services (LPS) reports the national delinquency rate fell six percent from the previous month to 7.09 percent as of March 31, 2012. For the 40 million mortgages analyzed by LPS, March is the third consecutive month the rate has fallen, reaching a new low last
Delinquencies Decline, Foreclosures Take Time Read More
The National Association of Home Builders (NAHB) tells MHProNews.com sales of newly built, single-family homes dropped to a seasonally-adjusted annual rate (SAAR) of 328,000 units in March, a 7.1 percent decline from the 353,000 homes in February. NAHB Chief Economist David Crowe says, “The March decline is from a stronger-than-expected
New Home Sales Fall in March Read More
RVBusiness says TheElkhartTruth reports Indiana Gov. Mitch Daniels will visit the RV/MH Hall of Fame and Museum in Elkhart, Indiana this Friday to meet with RV execs and publicize the industry’s recovery. Mark Bowersox, executive director of the Recreation Vehicle Indiana Council (RVIC), says Daniels will meet with company presidents
Gov. Will Tout RV Recovery Read More
According to RealtorMag’s survey of 146 metropolitan areas, MHProNews.com has learned median home prices nationwide rose five percent in March compared to Feb., to $189,900. Only five of the metro areas saw home prices decline including Minneapolis-St. Paul, Columbia, MO and Reading, PA. The areas that witnessed the largest month-over-month
Median Home Prices Rise Read More
According to a General Electric (GE) Capital Survey of 495 Chief Financial Officers (CFOs) at firms with annual sales volume of $50 million to one billion, 67 percent are predicting revenue growth and 74 percent anticipate hiring workers this year. BloombergNews tells MHProNews.com 94 percent of the CFOs predict the
Two-thirds of CFOs say Revenue Will Increase this Year. Read More
HousingWire says average weekly mortgage rates barely changed from last week, the Freddie Mac survey showing the average 30-year fixed rate mortgage (FRM) moving little, from 3.88 percent to 3.9 percent this week. MHProNews.com has learned last year the 30-year FRM averaged 4.87 percent. The 15-year FRM also moved little
Mortgage Rates Barely Move Read More
Noting that current underwriting standards are too restrictive and may be holding back a housing recovery, a combination of 33 private firms and non-profit organizations have signed a letter to Richard Cordray, head of the Consumer Financial Protection Bureau (CFPB), advocating for a broadly defined Qualified Mortgage (QM) policy, termed
Loosen the Purse Strings, Please Read More
The National Association of Home Builders (NAHB) reports overall housing starts declined in March 5.8 percent to a seasonally adjusted annual rate (SAAR) of 654,000 units, primarily due to a 16.9 decline in multifamily starts. Single-family housing starts dropped slightly 0.2 percent to a SAAR of 462,000 units, according to
Housing Starts Decline; Housing Permits Rise Read More
The Manufactured Housing Institute (MHI) reports 4,139 new manufactured homes shipped in Feb. 2012, an increase of 45.3 percent from a year ago Feb, with single and multi-section homes both increasing, although single section accounted for 60.4 percent of the total. Jan. and Feb. 2012 MH shipments totaled 8,084 compared
Manufactured Housing: Moving Up Read More
