Housing Recovery? Perhaps Not
CNNMoney tells MHProNews some industry experts forecast the housing recovery may not last. While home prices have risen eight percent, investors are driving the surge, taking advantage of low interest...
View ArticleHousing Recovery should help Middle Class
CNNMoney informs MHProNews Federal Reserve Governor Sarah Bloom Raskin says now that the housing market is improving, middle class families who have not been able to take advantage of the low interest...
View ArticleHousing Expert: Modify the Mortgage Interest Deduction
In an interview in Forbes, Nicolas P. Retsinas, former Federal Housing Commissioner and Director Emeritus of Harvard University’s Joint Center for Housing Studies, says the housing recovery is being...
View ArticleHomeownership Falls, Renter-Occupied Homes Rise
The number of Americans who own their homes fell to 65 percent in Q1, 2013, down from 65.4 percent the first quarter of 2012, and the lowest level since the third quarter of 1995. While it peaked at...
View ArticleSeriously Delinquent Mortgage Borrowers may Reduce Payments
Borrowers with mortgages backed by Fannie Mae and Freddie Mac that are at least 90 days late will begin receiving offers from lenders to reduce their rates. Called the Streamlined Modification...
View ArticleHome Prices Rise for 15th Straight Month
May saw the largest increase in the CoreLogic Home Price Index (HPI) since Feb. 2006, rising 12 percent over May 2012, and 2.6 percent higher than April, marking the 15th consecutive month of...
View ArticlePlenty of Hardship in the Land of Plenty
Adding to a story we posted July 4, 2013 from Harvard University’s annual Joint Center for Housing Studies, the report reveals 42.3 million families (37 percent of the nation’s total) pay more than 30...
View ArticleCenter for Housing Studies says Housing Recovery is Real
While the Census Bureau says home ownership is at its lowest point in 15 years, Harvard University’s Joint Center for Housing Studies reports “After across-the-board declines in 2011, all major house...
View ArticlePennsylvania School District may Opt for Modular Additions
An increase in enrollment projections exceeding expectations in the Cumberland Valley School District in south central Pennsylvania is leading officials to consider an $88 million budget addition over...
View ArticleHousing’s New Normal: Low Interest Rates, Shifting Demand – MH Opportunity?
At the recently held Data, Demand and Demographics: A Symposium on Housing Finance in Washington, D.C., CoreLogic Chief Economist Frank Nothaft shared a strong statement with housing insiders in...
View ArticleA Boost for housing by modifying Visas?
WashingtonPost reports that despite near record low interest rates, the National Association of Home Builders (NAHB) is pessimistic about a housing market recovery. A Catch-22 exists. We need more...
View ArticleUnderwater Borrowers: A Chance to Breathe Again?
OriginationNews tells MHProNews that after a two-year study, a Columbus, Ohio-based insurance company has introduced the Home Value Protection(HVP) plan to offer a modicum of protection to homeowners...
View ArticleFOMC Notes: What to Do, What to Do?
MHProNews.com has learned from NationalMortgageNews the minutes from the Federal Open Market Committee (FOMC) meeting Dec. 13 reveal disappointment that attempts by the government to stimulate a...
View ArticleSouthwest City has Mixed Housing Results
The Santa Fe Association of Realtors (SFAR) tells the SantaFeNewMexican home sales are up in the area due to low interest rates and buyers fears that interest and prices will soon rise, but inventory...
View Article30-Year FRM Drops Again
HousingWire tells MHProNews.com Zillow reports the 30-year fixed rate mortgage (FRM) dropped three basis points from 3.59 percent last week to 3.56 percent. The rate for a 15-year FRM hit 2.95 percent,...
View ArticleMortgage Applications Spike
Mortgage Bankers Association (MBA) says the low interest rates led to mortgage applications climbing by 18 percent on a sequential basis for the week ending June 8, 2012, according to...
View ArticleLack of Credit Access Hindering Recovery
The Manufactured Housing Institute (MHI) newsletter reports an article in the Wall Street Journal says access to credit may be the key to U.S. economic recovery. Noting those who already have access...
View ArticleInterest Rates Keep Dropping—But is it Good?
MHProNews has learned from HousingWire 15 and 30-year fixed rate mortgages (FRMs) are continuing to drop to historic lows. While last year at this time a 30-year FRM was at 4.55, as of Thurs. July 26...
View ArticleManufactured Housing Loan Advice
A reader tells the Las Vegas Review-Journal he purchased a new manufactured home in 2006 for $85,000 with $50,000 down and financed the balance for 20 years at 6.5%. The loan balance is $30,500 and the...
View ArticleCommercial Real Estate Gamble: Bet on MHCs
Marcus & Millichap’s Michael Glass says for commercial real estate investors seeking to diversify their portfolio, the stabilizing housing market and resurgence in financing can make manufactured...
View ArticleHome Prices Post Largest Gain in Two Years Plus
According to the S&P/Case-Shiller Index, home prices registered the largest gain in over two years, moving up 3.6 percent in the third quarter over Q3 2011. CNNMoney reports the increase was the...
View ArticleCommunity Banks Still on the Sidelines
Many community banks are still weighed down by non-performing construction loans, so their regulators do not want them issuing new construction loans, especially since so many small banks sank when the...
View ArticleNew Home Sales Up 15% over Year Ago
CNNMoney reports the Census Bureau says new home sales hit a seasonally-adjusted annual rate (SAAR) of 377,000 in Nov., an increase over Oct. of 4.4 percent and a rise of 15 percent over Nov. 2011. The...
View Article2012 Home Sales Best since Downturn
CNNMoney reports according to the National Association of Realtors (NAR) sales of previously owned homes in 2012 recorded their best year since 2007, nine percent over 2011, to 4.65 million homes sold....
View ArticleFalling Inventory (and not much else) is Driving Prices
In describing the housing market as in “pre-covery” instead of “recovery”, the only factor that has really changed in the housing market is falling inventory, according to Jonathan Miller, writing on...
View ArticleFeb. Marks Best Home Sales since 2009
Very much in line with what we have been hearing, CNNMoney tells MHProNews the National Association of Realtors reports the sale of existing homes reached a seasonally-adjusted annual rate (SAAR) of...
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