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.
azstarnet reports the two major mortgage market overseers in the federal government are trying to convince private lenders to ease up on lending restrictions that have become tighter than those required by Fannie Mae and Freddie Mac, which are under the jurisdiction of the Federal Housing Finance Agency, and the …
The Labor Department’s report that only 80,000 jobs were added in June posed a scary prospect for the overall economy that kept investors along the wall, as all three indexes lost ground. CNNMoney tells us the Dow Jones Industrial Average dropped -124.2 points, -0.96%, to close at 12,772.47. The Nasdaq …
The Manufactured Housing Institute (MHI) will testify before the House Financial Services Subcommittee on Financial Institutions and Capital Markets July 11 concerning the impact of Dodd-Frank on residential mortgage reforms. Clayton Homes General Counsel Tom Hodges, representing MHI during the hearing, will address the measure’s unintended consequences that limit credit …
Senior Housing News states although household net worth across all age groups fell 35 percent between 2005 and 2010, from $102,844 to $66,740, for 65+ homeowners the drop was only 13 percent, from $195,890 to $170,128. The 35-and-under households median net worth dropped from $8,528 to $5,402, a 37 percent …
ShowWays informs MHProNews.com that the new North Wing of the Kentucky Exposition Center will be the site of the 2013 Louisville Manufactured Housing Show Jan. 23-25. Eight-four exhibitors displayed in 2012, and the new space will allow for more manufactured homes to be displayed. Last year brought out 1022 attendees, …
Calling the high cost of affordable housing the “single biggest obstacle to making Vancouver a more livable city,” Vancouver, British Columbia’s Mayor Gregor Robinson set up a competition to garner ideas for solutions, the Vancouver Sun tells MHProNews.com. The Mayor’s Task Force on Housing Affordability received 68 entries, including drawings …
Writing in OriginationNews, Paul Muolo expresses the mortgage industry’s contempt for the Consumer Financial Protection Bureau’s (CFPB) loan officer compensation proposal, particularly the ‘flat fee’ payments. Some industry officials, thinking the agency is more intent on meeting the deadline of early 2013 than making sure the rule is equitable, are …
NationalMortgageNews reports Freddie Mac says ten out of the last eleven weeks the average fixed-rate 30-year mortgage (FRM) has set new lows, with the week just ending July 5 marking another one at 3.62 percent. The average 15-year FRM fell to 2.89 percent. The average five-year hybrid remained at 2.79 …
Anchorage Daily News states weekly unemployment benefit applications fell 14,000 to a seasonally-adjusted 374,000 according to the U.S Dept. of Labor, the fewest in six weeks. While economists predict only 90,000 jobs were added last month, payroll provider ADP counts 176,000 jobs added in June. ADP only measures private sector …
Tepid economic data, including a drop in retail sales, sent the market down earlier in the day, but led investors to hope meaningful central bank action will be forthcoming. CNNMoney tells us the Dow Jones Industrial Average dropped -47.15 points, -0.36%, to close at 12,896.97. The Nasdaq rose +0.04 points …
RVBusiness tells us that Ellen Kelleher, vice president-property management at Equity Lifestyle Properties (ELS) for almost 20 years, is retiring at the end of the year. Her duties will be assumed by others in the organization. Other personnel changes, and their new positions include: Peter Underhill, senior vice president-revenue management; …
Azstarnet reports four steel cargo containers turned into a two-story two-bedroom house is turning heads in Tuscon, Arizona, but also raising some voices. Modified in a factory to conform to state and local regulations, it falls under the jurisdiction of the Arizona Office of Manufactured Housing and meets the standards …
CNNMoney says Trulia reports rents in the U.S. rose an average of 5.4 percent June 2011 to this past June, as foreclosed former homeowners and would-be homebuyers turned away by lenders drive up demand. Asking prices on for sale homes only increased 0.3 percent for the same period. In metropolitan …
NationalMortgageNews reports the Tuscaloosa Credit Union (TCU) in Alabama is backing a program to help home buyers with poor credit realize their dreams of home ownership, following the departure of the big banks. After the mortgage rules changed, the second and third mortgages attached to the four homes prevented the …
HousingWire reports an article in The Hill notes with barely four months before the presidential election, the Obama administration has a lot riding on employment figures. With tepid manufacturing numbers in June, a slowdown in China’s economy, and the European debt crisis still festering, analysts anticipate the jobs report due …
Will the Job Market Rise to Fuel Housing Recovery? Read More
Altos Research says their study indicates the inventory of homes on the market is a third below where it was last year, and half of what it was at the lowest point when the housing bubble burst. The low inventory is pushing prices up as demand increases. Are the banks …
In observance of Independence Day, U.S. stock exchanges are closed today. They will reopen tomorrow at 9 AM. Happy Birthday America! (Photo credit: Wikipedia Commons)
Bloomberg News states while construction shrank and mortgage approvals declined in May in the United Kingdom due to economic uncertainty there, 4.6 million homes changed hands in the U.S. in May at a seasonally-adjusted annual rate, according to a report from the National Association of Realtors (NAR). The average 30-year …
TBO reports Tropical Storm Debby swept through Suncoast Gateway Mobile Village in Port Richey, Florida, damaging the underside, insulation, under support, and air conditioning units of many of the homes. President Obama declared a major disaster area in five Fla. counties, making them eligible for federal funding including low-cost loans …
While business may be good for housing suppliers to the oil and energy field projects in north central U.S., increasing populations of mostly single men in North Dakota are drawing a mixed reaction, Ohio tells MHProNews.com. With a population grown from 12,500 to over 20,000 in four years, primarily due …
