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.
The Federal Housing Finance Agency (FHFA) reported Tuesday that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from […]
Federal Housing Finance Agency Reports Mortgage Interest Rates Read More
The National Association of Home Builder (NAHB) reports sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. Based on Commerce Department figures, the gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in
Financing May Be the Roadblock to Recovery Read More
American Banking News reports that shares of Cavco hit a new 52-week high on Monday. The stock traded as high as $47.88 during mid-day trading and last traded at $47.88. The report also notes the stock has a 52-week low of $31.50 and a 52-week high of $47.89. Its 50-day
Cavco Hits New 52-Week High at $47.88 Read More
From the Wall Street Journal blog we find that Cormello LLC, the owner of a manufactured and mobile-home park in Michigan, filed for bankruptcy earlier this month. The report indicates documents filed in the Detroit bankruptcy court, the township of Ypsilanti, alleged that the Ypsilanti Mobile Village “constitutes a public
Michigan Community Owner Files for Bankruptcy Read More
Promoters recently announced the first ever comprehensive manufactured housing land lease community finance seminar featuring the FHA 207m Loan Guarantee program is coming to Louisville. It will be held at the Crowne Plaza Hotel, adjacent to the Kentucky Exposition Center Fairgrounds and concurrently with the nearby Midwest Manufactured Housing Show
FHA207m Loan Guarantee Program Seminar Coming to Louisville Read More
Despite 20 inches of snow in Central Park, the New York Stock Exchange kept normal hours today, allowing the Dow to shed 18 points at close. The Manufactured Housing Composite Value, however, rose more than two percent. Benefitting most were Nobility Homes, Cavco, up nearly three percent and Skyline Homes
Manufactured Home Stocks Record Gains Read More
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the December edition of the Obama Administration’s Housing Scorecard last week. The latest figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile,
HUD Releases December Housing Scorecard Read More
Senior Housing News reports that retirement areas are becoming year-round residences. The website highlights census statistics that show states with the highest percentage of population increases between 2000 and 2010 were heavily concentrated in popular retirement areas that include the southern and southwestern areas of the United States. The data
Seniors Staying in the Sunbelt Year-Round Read More
Trulia.com, a site for homebuyers, sellers and renters, recently announced it has acquired Movity (www.movity.com), a start-up focused on surfacing geodata to help new movers make better decisions and creator of social check-in tracker www.weeplaces.com. “The consumer real estate experience will continue to change dramatically and we believe adding this
Trulia Acquires Movity Read More
Housingwire reports that Fannie Mae and Freddie Mac are two of the worst performing stocks of 2010. The government-sponsored enterprises ranked as the fifth-worst and third-worst stocks of the Fortune 500 with price declines of 79 percent and 74 percent. The companies were put into federal conservatorship in September, 2008
Fannie and Freddie Lose Three-Quarters of Value in 2010 Read More
The DesMoines Register reports that Iowa lacks any statewide program to upgrade housing or relocate families who live in older mobile homes, but momentum at least may be picking up. The report indicates many residents live in fear of rising lot rents and fees. Moreover, Iowa law currently allows home
Housing Activists Float Idea for Mobile Home Replacement Fund Read More
Stocks moved ahead fourteen points December 23rd, essentially remaining flat. Meanwhile the Manufactured Housing Composite Value was off half of one percent the day before. The index was not updated for December 24. Most active stocks Christmas Eve included Deer Valley Corp, up nearly 35 percent to close at 74
U.S. house prices rose 0.7 percent on a seasonally adjusted basis from September to October, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.7 percent decrease in September was revised downward to a 1.2 percent decrease. For the 12 months ending in October, U.S.
U.S. Monthly House Price Index Increases 0.7 Percent from September to October Read More
It is NOT manufactured housing, but you may come away with that impression after reading a recent item in the DesMoines Register. The article recalled the first death of 2010, a man named William McCune who reportedly died during a fire in an old, pre-HUD code mobile home. The article goes
The “Most Dangerous Housing in America” Read More
Zacks Investment Research announced recently it has upgraded Universal Forest Products from Underperform to a Neutral recommendation. The Michigan-based company engineers, manufacturers, treats, distributes, and installs lumber, composite wood, plastic and other building products for its do-it-yourself (DIY), site-built construction (homebuilders), manufactured housing, and industrial markets. Zack’s notes the recent
Universal Forest Upgraded Read More
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending December 17, 2010, finding mortgage loan application volume decreased 18.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 20.0 percent compared with the previous week. The
Mortgage Loan Applications Decline Read More
After stepping back in October, reversing into the negative territory, the Architecture Billings Index (ABI) rose more than three points in November to reach its highest mark since December, 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine-to-twelve-month lag time between architecture billings and
Architecture Billings Index Reaches Highest Score Since 2007 Read More
Manufactured housing may not benefit in the future from retirees relocating to warm climates. A new study by AARP finds that an early cohort of the Boomer generation likely will dispel the myth that most retirees want to move to retirement havens in warmer climates. Few leading-edge Boomers have plans
Baby Boomers Not Ready to Retire Read More
The Manufactured Housing Composite Value declined Wednesday after two days of gains. Individual stocks performed well, however. They include Nobility Homes, up 2.3 percent, and Cavco, up half of a percent. Skyline Corp. was off more than five percent. The Dow closed up 26 points.
MH Composite Value Takes a Breather Read More
Housingwire.com reports that mortgage finance industry executives are asking regulators to adopt national standards for the securitization of home loans as soon as possible, starting with the disclosure and risk retention rules outlined in Dodd-Frank. An “open letter to U.S. regulators regarding national loan servicing standards” signed by 52 financial
Open Letter Takes Aim at Secondary Mortgage Market Read More
