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 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 …
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives …
All three indexes edged down on anticipated tepid news about the job market report due to be released tomorrow, and the downturn of the service sector of the economy for April. CNNMoney reports the Dow Jones Industrial Average edged down -0.47 percent, -61.98 points, to end the day at 13,206.59. …
MHProNews.com has learned from MyrtleBeachonline two South Carolina men were each sentenced to three years in federal prison for falsifying loan applications to banks to obtain mortgages on manufactured homes that were never delivered. Conway, SC MH dealer Glenn Vaught and mortgage broker Michael Fortenberry provided false documentation to obtain …
A bill in the Delaware Senate’s Small Business Committee would require MHC owners to justify rents that change more than the cost-of-living, with a decision rendered by the Governor’s Advisory Council on Manufactured Housing. Residents of Aspen Meadows MHC, many of them seniors, took 150 signatures in support of Senate …
In its report of earnings for first quarter 2012, Drew Industries, Inc.’s manufactured housing division registered $3.1 million operating profit on sales of $28 million first quarter 2012, versus profit of $2.2 million on sales of $23 million for the same period 2011. The company marked an MH sales increase …
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 …
Zillow, Inc., the free online real estate site offering home listings, mortgage rates, and views of homes sold, notched total revenue of $22.8 million in first quarter 2012, 103% over the corresponding quarter a year ago. MarketWatch tells MHProNews.com this is the sixth consecutive quarter revenue growth quarter over quarter …
Discount merchandiser Costco is entering the mortgage and student loan business, OriginationNews tells MHProNews.com. Already into financial services with marine and recreational loans, credit cards, health and auto insurance, and investing services, Costco has partnered with New Jersey-based First Choice Bank and ten other lenders to offer full-service home loans. …
Mostly positive corporate earnings reports were tempered by weak job growth data to keep investors wary, as CNNMoney reports the Dow Jones Industrial Average edged down -0.08 percent, losing -11.12 points, to end the day at 13,268.20 The Nasdaq managed a +0.31 percent gain to close at 3,059.85, while the …
As follow-up to an article we published Feb. 17, 2012, The New York Times reports the first MEDCottage will be delivered this month to a family in Alexandria, Virginia. As an alternative to placing aging family members in a nursing home, this 12-by-24 bedroom-bathroom-kitchenette modular unit, designed to fit in …
The Department of Housing and Urban Development (HUD) has awarded $1.8 million in grants to improve housing and stimulate economic development among three Native American tribes in Nevada. KTVN-TV tells MHProNews.com each of the tribes will receive $605,000 under the Indian Community Development Block Grant (ICDBG) Program. The Ely Shoshone …
In the wake of the deadly tornadoes that ripped through Alabama last year, WSFA-TV in Montgomery, AL, like many in the media and in the National Weather Service (NWS), does not distinguish between pre-HUD Code homes and those built after 1976. However, Tommy Colley, who trains MH installers for the …
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 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 …
Reports of improvement in U.S. manufacturing sent the Dow Jones Industrial Average to its highest point in four years, gaining half a percentage point, +65.69 points, to close at 13,279.32. CNNMoney tells MHProNews.com the Nasdaq moved up 0.13 percent to close at 3050.44, while the S&P also moved up, +0.57 …
Deer Valley Leaps Up, Skyline Skids, Housing Composite Bests Dow Read More
The “House and Home” exhibit at the National Building Museum in Washington, D.C. tells the history of housing in the United States through photographs, film, drawings, texts, and models, beginning with Native Americans, through tenements, suburbia, urban living, even to the modular Tumbleweed Tiny House that has just 100 square …
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 …
MHProNews.com has learned the Bullhead City Council has approved an agreement between the city and the Arizona Department of Fire, Building, and Life Safety (DFBLS), Office of Manufactured Housing, for Mojave County to issue permits and inspections for manufactured housing and factory-built buildings. The DFBLS does not have an inspector …
Perhaps 20,000 to 30,000 jobs and the home values of some 4 million pre-HUD Code mobile and post-HUD Code manufactured homes hangs in the balance of the passage of HR 3849. Can it get done? Experts tell MHProNews that it will require a strong grass roots effort by industry professionals …
