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.
In a recent paper from the Joint Center for Housing Studies at Harvard University which examines the association between views on homeownership and the recent downturn in the housing market, MHProNews has learned evidence suggesting respondents’ preferences for owning versus renting have not changed, except among borrowers who have underwater …
The National Association of Home Builders (NAHB) tells MHProNews while housing starts fell 1.1 percent in July to a seasonally annual adjusted rate (SAAR) of 746,000 units, according to the Department of Housing and Urban Development (HUD) and the U.S. Census Bureau, new building permits permits rose 6.8 percent in …
WLTZ-TV reports from Montgomery, Alabama Gov. Robert Bentley has appointed State Rep. Elwyn Thomas as Executive Director of the Alabama Manufactured Housing Commission (AMHC) effective Sept. 1, 2012. As the state’s regulatory agency, the AMHC enforces installation program standards and focuses on industry compliance, consumer protection, and assists communities with …
New Director for Alabama Manufactured Housing Commission Read More
northescambia tells MHProNews approximately 25 percent of the dwellings in Century, Florida are manufactured homes and the town is considering methods to regulate their placement and condition. Of the 203 units in this town, located in the panhandle very near the Alabama line, sixty percent are pre-1995 and only 25 …
CNNMoney reports U. S. stocks moved up today, fueled in part by news that Cisco Systems posted a larger quarterly profit than expected, as the Dow Jones Industrial Average gained 85.33 points, +0.65 percent, to close at 13,250.11. The Nasdaq gained +1.04 percent to 3,062.39, while the S&P moved up …
The Truth in Lending Act (TILA) was set up to promote informed use of consumer credit and increase transparency by requiring disclosures about its costs and terms. A joint group of federal agencies that oversee truth-in-lending concerns, including the Consumer Financial Protection Bureau (CFPB), are proposing to amend Regulation Z, …
MH Excluded from Definition of Higher-Risk Mortgage Loans Read More
RealtorMag ticks off four strong reasons for buying a home now, as John Waggoner writes in USA Today. The median single-family home price fell to $154,600 in January, the lowest price since Oct. 2001, a full third below the $230,900 number at the height of the housing market in July …
Inflation will be Higher than Current Interest Rate Read More
The National Association of Home Builders tells MHProNews the NAHB/Wells Fargo Housing Market Index (HMI) reports builder confidence for new, single-family homes rose for the fourth straight month in August to its highest level since Feb. 2007. All three components that comprise the HMI—current sales conditions, sales prospects for the …
OriginationNews‘ Paul Muolo says the Consumer Financial Protection Bureau’s (CFPB) proposed unveiling of its final loan officer compensation rule set for early August has yet to be issued. While the mortgage industry anxiously awaits, some loan officers are suggesting the result might be better the longer the agency waits, hopefully …
Consumer prices held steady in July, according to the Bureau of Statistics, and inflation remains low, both good signs for the economy, as investors sifted through economic data and continue to hope for stimulus from the Federal Reserve, according to CNNMoney. Meanwhile, U. S. stocks moved little, as the Dow …
Tracked Housing Stocks Move Little, except Nobility’s Drop Read More
Stockhouse tells MHProNews T.J.T., Inc. of Emmett, Idaho reports a net loss of $194,000 for its third quarter of fiscal year 2012 versus a net loss for the same period last year of $346,000. Net sales fell from $1,457,000 for the quarter ending June 30, 2011 to $880,000 for the …
As follow-up to a story we posted Aug. 7, 2012 about the Clawson Mobile Home Park in Boone, North Carolina closing Oct. 4, 2012 and being sold to developers who will erect student housing, the WataugaDemocrat says the Boone Planning Commission voted in favor of the rezoning request. Developer of …
WorldPropertyChannel tells MHProNews.com that the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) indicates strengthening house prices means slightly lower housing affordability in the second quarter of 2012. The HOI data revealed that 73.8 percent of all new and existing homes sold in the second quarter were affordable …
Housing Affordability Index Declines as U.S. Home Prices Uptick in Q2 Read More
GurnseyGazette tells MHProNews that some 30 households faced with eviction as a result of planning by the Camp Gurnsey unit of the Wyoming National Guard have been scrapped. Wyoming State Adjutant General Luke Reiner’s stated in a meeting with residents, “if you currently live there, you can stay.” “However, as …
CNNMoney tells MHProNews that the Dow rose to 13,172.14+2.71 / +0.02%. The rise puts the Dow up +7.81% year-to-date. The Yahoo! Financial Manufactured Housing Composite Index rose +2.11 to close at 996.0. Affiliated Managers Group lead gainers116.07 +0.45(+0.39%), while other tracked stocks lost ground today before the closing bell. Clayton Homes, Vanderbilt Mortgage and …
Affiliated Managers close up, while most MH stocks slide Read More
SussexCountian tells MHProNews that the First State Manufactured Housing Association in Delaware awarded two high school graduates their Manufactured Housing Scholarship Award for 2012. Sarah Bryan, a Delmarva Christian High School graduate, will be attending Southern Wesleyan University this fall. Bryan was a member of the student leadership council, science …
Students Receive Delaware Manufactured Scholarships Read More
GlobeMail tells MHProNews that Canada Mortgage and Housing Corp (CMHC). is forecasting a moderate slowdown in new-home construction starts as well as sales of existing housing. CMHC states that housing starts and home sales have been good in 2012 – particularly when it comes to multiple-dwelling units such as condos …
Forecast Slows, says Canada Mortgage and Housing Corp Read More
MarketWatch tells MHProNews that pre-fab builders such as Home by Vanderbuilt and Cabin Fever are seeing the easing of the stigma of modular and factory-built homes. “Modular homes can provide features that lower energy bills; the materials are factory-made, which cut production costs; and the time it takes to build …
ComplianceWeek tells MHProNews about a new report, “Two Years On, Reassessing the Cost of Dodd-Frank for the Largest U.S. Banks,” Standard & Poor’s Ratings Services (S&P) updated its prior estimate of what new regulations may cost Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, PNC Financial Services, U.S. …
S&P says Dodd-Frank may cost Big Banks $34 Billion annually Read More
Reuters tells MHProNews that the Federal Housing Finance Agency (FHFA) raised concerns about a private investor group’s controversial aim to seize and restructure poor-performing mortgages. The federal housing regulator of the GSEs said it is concerned about the program’s constitutionality. “FHFA has significant concerns with programs that could undermine and …
