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.
Zacks says Cavco Industries (NASDAQ: CVCO) is one of five companies in the home-building industry that offers the least risk and more stable return on investment. SmarTrend ranks Cavco second with a beta rating of 1.15, and says since it issued an upturn on the stock Feb. 17, its value …
HousingWire says mortgage rates rose by only one basis point to 4.87 percent for the average 30-year fixed-rate mortgage (FRM), the third straight week of increases, according to the Freddie Mac Primary Mortgage Market Survey. The average one year ago was 5.21 percent. Rates on 15-year FRMs moved up one …
The Contra Costa Times reports the 2008 Sayre Fire that tore through the foothills around Los Angeles destroyed 600 residences at the Oakridge Mobile Home Park. Coming on the heels of the housing crisis, only 20 percent of the residents have returned. As an incentive to bring people back, the …
City Helping Rebuild Wildfire Ravaged MH Community Read More
According to HousingWire, the falling of home prices for the seventh straight month represents the downward pull of distressed homes in the market. The statistics from CoreLogic show with that segment in the equation, prices fell in February 6.7 percent over February a year ago. Remove that segment and the …
Distressed Homes Lower the Price of Homes Nationwide Read More
According to the Manufactured Housing Association for Regulatory Reform (MHARR), the Housing and Urban Development (HUD) statistics show shipments of manufactured housing continued to fall through the first two months of this year by 15 percent over the same period 2010. Production numbers in their report from 2009 to 2010 …
MHARR Meets with Congressional Leaders, Express Concerns over Sagging Sales Read More
The technology sector was stronger than the weakness of the industrial and energy sectors to drive the Dow up just over a quarter of a point to close at 12,426.75. Housing stocks moved up, down, and not at all. Cavco gained 1.97 percent, Skyline Corp. moved up 1.91 percent, Nobility …
Technology Sector Moves Dow Up, Housing Stocks Inconsistent Read More
According to RV Business, RVPro magazine has responded to the cash-strapped Elkhart, Indiana-based RV/MH Hall of Fame Museum & Library, and will donate 25 percent of its June advertising revenues to the museum. Publisher Dana Nelsen said, “We want to help the museum, plain and simple, because it really is …
CNNMoney says mortgage rates are low and houses are cheap, but only the well-heeled borrowers qualify, and they typically need 20 percent down. The Federal Reserve says 25 percent of people who apply for financing are turned down, even good borrowers with one of two late payments are being denied. …
HousingWire reports the American Bankers Association (ABA) told the House Financial Services Committee that the new Consumer Financial Protection Bureau (CFPB) needs the checks and balances of a commission to head the massive agency instead of just the director. Speaking for the ABA, Leslie Anderson, of Bennington Bank in Nebraska, …
Bankers Say CFPB Should Be Directed by a Commission Read More
The Creative Coast reports that the Adaptable System for Universal Living (ASUL) was featured on the cover of the April 2011 issue of Builders News Magazine for its modular designs based on the Midcentury Home steel construction methods of Pierre Koenig. He designed the famed Stahl House in California with …
Modular Library Based on Modern Steel Buildings of Pierre Koenig Read More
The National Association of Home Builders documented the contribution of building 100 single family homes in a typical metro area for one year. The year impact includes $21.1 million in local income, $2.2 million in taxes, and 324 jobs. Half of the jobs are in construction, the other half extend …
From Boston/SF comes word that people traveling to work on busy Route 1 in Saugus, Massachusetts, just north of Boston, may have been surprised returning home to see a house on what was a vacant lot that morning. Westchester Modular Homes of Greater Boston (WMHGB) installed a new 2,900 square …
Fear of rising inflation and the subsequent raising of interest rates by the Fed caused stocks to stumble at day’s end. The Dow lost .05 percent to end the day at 12,393.83. Nobility Homes gained 8.19 percent, Cavco was up 1.56 percent and Skyline Corporation moved up 1.30 percent. Deer …
The Duluth News Tribune in Minnesota reports the Arrowhead Home and Builder’s Show will feature a manufactured home brought into Pioneer Hall. Contractors will finish off the drywall and painting of the home for the several thousand visitors who are expected to tour the house. Craig Tobias, president of Bullyan …
Gulf Live reports from Ocean Springs, Mississippi that the Cottages at Oak Park, a 29-unit modular housing complex going up near downtown, will feature affordable one, two, and three bedroom homes, some two stories. The energy efficient homes will withstand 145 mile per hour winds, and will have steel roofs …
Statesman says Palm Harbor Homes announced it will close its Kyle, Texas, manufacturing plant in early June, idling 129 employees. The company filed bankruptcy last November, and was acquired by Cavco Industries through its Fleetwood subsidiary under a bankruptcy court auction in March for $84.9 million. Palm Harbor has eight …
HousingWire reports that while the House Financial Services Committee has proposed eight bills to revamp Fannie Mae and Freddie Mac, securities broker Keefe, Bruyette & Woods (KBW) say the legislation will do little to promote mortgages moving to the private sector from the GSEs (government sponsored enterprises). Instead it deals …
Yahoo!Finance reports that Nobility Homes (NASDAQ: NOBH) received a letter of non-compliance from NASDAQ because the company did not timely file its Quarterly Report on Form 10-Q. It failed to comply with NASDAQ Listing Rule 5250 (c)(1) with the Securities and Exchange Commission (SEC) for the period ending Feb. 5, …
HousingWire says the Obama administration’s housing scorecard shows gain, but not yet a win. Prime and subprime mortgage delinquencies, and Federal Housing Administration (FHA) delinquencies, all declined from a year ago. The Housing and Urban Development (HUD) and Treasury Departments, also said properties receiving a notice of default declined from …
The Dow registered a small gain of .09 percent to close at 12,400.03. In housing stocks, Skyline Corp. gained 2.38 percent and Cavco was up 1.36 percent. Nobility Homes and Deer Valley remained flat. The Manufactured Housing Composite gained 1.54 percent to end the day at 1134.60.
