Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) April 17, showing average fixed mortgage rates easing further for the second consecutive week helping to increase home buyer affordability at the onset of the spring home buying season.
- 30-year fixed-rate mortgage (FRM) averaged 4.27 percent with an average 0.7 point for the week ending April 17, 2014, down from last week when it averaged 4.34 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.
- 15-year FRM this week averaged 3.33 percent with an average 0.6 point, down from last week when it averaged 3.38 percent. A year ago at this time, more »
CNH Industrial N.V. announced that Chief Executive Officer Richard Tobin will assume added responsibility as Brand President – Case Construction Equipment and New Holland Construction Equipment.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Group is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus more »
Florida Scores the Biggest Percentage and Total 12-Month Gains, West Virginia and New Jersey Have Most Severe Losses; Ohio and North Dakota Lead Monthly Gainers, While Texas and New Mexico Shed the Most Jobs
Construction firms added jobs in 38 states over the past 12 months, although job gains leveled off between February and March, according to a recent analysis by the Associated General Contractors of America of Labor Department data. Association officials said the ongoing year-over-year pickup points to the urgency of revitalizing and initiating programs to encourage workers and graduating students to get construction careers.
“The widespread gains in employment from more »
The Equipment Leasing & Finance Foundation (the Foundation) released the April 2014 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827 billion equipment finance sector. Overall, confidence in the equipment finance market is 65.1, remaining at the highest index level in two years for the second consecutive month.
When asked about the outlook for the future, MCI survey respondent Thomas Jaschik, president, BB&T Equipment Finance, said, “The first quarter of 2014 had positive results with more »
Ritchie Bros. Auctioneers sold more than US$46 million of heavy equipment and trucks during a two-day, unreserved public auction at the company’s permanent auction site in Houston, Texas, on April 16 – 17, 2014. More than 3,800 registered bidders competed for 3,700+ heavy equipment items and trucks, including 80+ hydraulic excavators, 50+ cranes, a large selection of oilfield transportation equipment and more. The auction saw numerous site records broken: most sellers at a Houston auction (more than 500) and the largest number of online bidders (2,250+) and online buyers (550+) at a Houston auction. Every item was sold to the highest more »
United Rentals, Inc. recently announced financial results for the first quarter 2014. Total revenue was $1.178 billion and rental revenue was $1.005 billion, compared with $1.100 billion and $916 million, respectively, for the same period last year. On a GAAP basis, the company reported first quarter net income of $60 million, or $0.56 per diluted share, compared with $21 million, or $0.19 per diluted share, for the same period last year.
Adjusted EPS for the quarter was $0.90 per diluted share, compared with $0.58 per diluted share for the same period last year. Adjusted EBITDA was $519 million and adjusted EBITDA margin more »
Kubota Tractor Corp. has received the No. 1 rating and “Dealer’s Choice Award” among tractor manufacturers, according to the North American Equipment Dealers Association (NAEDA) 2014 Dealer-Manufacturer Relations Survey.
“This award is positive reinforcement that we are delivering on the Kubota promise to provide a rewarding experience, not only for our customers, but also for our 1,100 dealerships across America,” said Greg Embury, the company’s senior vice president of marketing and dealer development. “We know that we’re only as successful as our dealers, so we make it a top priority to support our dealers in running a successful business.”
Nearly 1,400 equipment dealers more »
Michigan Department of Transportation released the next video in its “Transportation Reality Check” campaign, focusing on the pothole patching process and why patches are not able to be a permanent repair option for MDOT.
In an encouraging sign, the bipartisan group of lawmakers tasked with drafting the Senate’s next highway reauthorization bill has come to a broad agreement on moving forward with a replacement of the Moving Ahead for Progress in the 21st Century Act (MAP-21).
On April 10, Senate Environment & Public Works (EPW) Committee Chairman Barbara Boxer (D-Calif.) and Ranking Member David Vitter (R-La.) announced the panel’s desire to pursue a six-year transportation bill funded at current investment levels (adjusted for inflation).
Joined by Sens. Tom Carper (D-Del.), chairman of the Transportation & Infrastructure Subcommittee (T&I), and John Barrasso (R-Wyo.), T&I ranking member, the senators more »
The Occupational Safety and Health Administration today announced on April 11, that the final rule to improve workplace safety and health for workers performing electric power generation, transmission and distribution work has been published in the Federal Register.
The final rule revises OSHA’s 40-year-old construction standard for electric power line work to make it more consistent with the corresponding general industry standard and also makes some revisions to the construction and general industry requirements. In addition, the standards adopt revised approach-distance requirements and add new requirements to protect workers from electric arcs. General industry and construction standards for electrical protective equipment are also more »