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.
Freddie Mac reports the results of its Primary Mortgage Market Survey show a drop in long-term fixed rates this week. 30-year fixed-rate mortgage averaged 5.0 percent with an average 0.7 point for the week ending February 17, 2011, down from last week when it averaged 5.05 percent. Last year at […]
Fixed-rate Mortgage Rates Drop Read More
The Tulsa Beacon reports Oklahoma state Rep. Pat Ownbey announced the Manufactured Housing Association of Oklahoma Board of Directors’ acceptance of his recommendation to help provide sample emergency plans for manufactured home communities to prevent deaths in the event of a tornado or other disaster. The Manufactured Housing Association of
Oklahoma Communities to Receive Sample Emergency Plan Read More
From Canada, Global Saskatoon featured a story on a home that was built locally in just six hours. A photo accompanying the article showed a modular home being lowered onto its foundation. The report indicates the home is made with pre-fabricated Structural Insulated Panels rather than traditional wooden studs, which
New Home Completed in Hours, not Months Read More
Wall Street spent hump day higher, adding more than 60 points to close at 12,288. Gainers in the manufactured housing arena include Cavco and Skyline Corporation, each adding some five percent for shareholders. Walker & Dunlop and Drew Industries also closed higher. The Manufactured Housing Composite Value closed higher by
Stocks Close Higher Mid-Week Read More
T.J.T., Inc., a major supplier of axles, tires and set-up supplies to the manufactured housing industry, announced a net loss Tuesday of $286,000 in its first quarter of fiscal 2011. Net sales decreased 27 percent in the first quarter of fiscal 2011 as compared to the same period in 2010.
T.J.T., Inc. Reports Results for First Quarter Of Fiscal 2011 Read More
Warren Buffett was at the White House Wednesday, receiving the Presidential Medal of Freedom. According to CNBC, President Obama praised Buffett for demonstrating that “integrity isn’t just a good trait – it is good for business.” Buffet was also recognized for “devoting the vast majority of his wealth to those
Buffet Receives Freedom Medal Read More
From Michigan, the Daily Press and Argus reports that a federal lawsuit has been dismissed in which more than 50 residents claimed Green Oak Township unlawfully restricts and removes older mobile homes in a manufactured home community there. According to the report, last March, residents of Woodland Ridge manufactured home
Suit Over ‘Older Mobile Homes’ Dismissed Read More
From Iowa, the Press-Citizen reports that new legislation addresses abuses tied to sales and living conditions in the state’s oldest manufactured homes reported in a Des Moines Register investigative series over the past year. The report indicates key provisions of the bill include sweeping changes in how much information community
Iowa Bill Would Give MH Owners Additional Protections Read More
Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units in January, according to figures released by the U.S. Commerce Department Wednesday. The gain was entirely due to a 77.7 percent increase in the multifamily sector, where significant month-to-month swings in activity are not unusual
Multifamily Construction Boosts Housing Starts in January Read More
Residents of Park Plaza Estates in Fridley, Minnesota now own and control their 90-home manufactured home community. The homeowners came together, formed a cooperative and purchased their community from the previous investor ownership entity. This group of homeowners will join the other 1,000-plus resident-owned communities across the United States. Of
Minnesota Adds Resident-owned Manufactured Home Community Read More
Weak retail trade in January drove the Dow down 0.34 percent to close at 12,226.64. After dropping nearly 16 percent yesterday, Palm Harbor Homes rebounded to close up 37.50 percent. Cavco lost 0.38 percent and Nobility Homes was down 0.24 percent. The Manufactured Housing Composite Value lost 1.91 percent.
Dow Flat, MH Composite Closes Lower Read More
According to Bloomberg News, the U.S. Small Business Administration faces a 45 percent cut in funding under the President’s budget request. Bloomberg reports that while the budget would back $27 billion in loan guarantees for small business, administrative spending and funds for Small Business Development Centers would be cut.
SBA Facing Dramatic Funding Cuts Read More
Housingwire reports that thanks to the falling dollar, the recently formed State of Texas Real Estate Fund LP announced plans Tuesday to raise $150 million from international investors for the purpose of acquiring distressed office and industrial properties, as well as land. The fund is hunting for high-quality distressed properties
Falling Dollar Helps Drive International Investments in Lone Star State Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) sent out notice that the HUD proposed rule to amend Subpart I (Consumer Complaint Handling and Remedial Actions) of the Procedural and Enforcement Regulations was published in the Federal Register on February 15. MHARR says it is important to carefully review this
HUD Publishes Proposed Subpart I Rule Read More
According to the Manufactured Housing Institute (MHI) Week in Review, MHI-PAC will host a fundraising luncheon for Senator Olympia Snowe (R-ME) on Feb. 16. Representative Snowe is a key Member of the Finance, Commerce, Small Business and Entrepreneurship Committees and a friend of the industry. Senator Snowe has been a
MHI-PAC to Host Senator Olympia Snowe of Maine Today Read More
Drew Industries, a leading supplier of components for recreational vehicles (RVs) and manufactured homes, recently reported net income for the fourth quarter ended December 31, 2010 of $3.1 million, or $0.14 per diluted share, compared to net income of $2.9 million, or $0.13 per diluted share in the fourth quarter
Drew: 16 Percent Decline in Manufactured Homes Read More
The stock market closed mixed, but the Dow was down slightly to close at 12,268.19. Palm Harbor dropped 15.79 percent and Cavco lost 1.54 points, but Deer Valley was unchanged. The Manufactured Housing Composite Value lost 1.54 percent.
Stocks End Day Mixed Read More
According to CNN Money, the tab to bail out Fannie and Freddie will continue to grow, says the Federal Housing Finance Agency (FHFA), which oversees the duo. It says the estimated costs through 2013 could increase by as much as $210 billion, that on top of the blank check that
Costs of Fannie and Freddie to Climb Read More
It may not have the same emotions attached as Obamacare, but the reform of Fannie Mae and Freddie Mac may get complicated because the administration’s plan is not specific in some areas, leaving the door open to many options, says an article on GlobeSt.com. Mark Oesterle, former counsel to the
Battle Over GSEs May Be Looming In Congress Read More
If you are looking to build a new home, do it now, according to the National Association of Home Builders (NAHB). Construction costs have fallen during the housing crunch, but are steadily creeping back upward. According to an article in the Los Angeles Times, nine years ago construction costs made
Construction Costs, Interest Rates Likely to Rise Read More
