Fast Facts About Modular Homes:
- The building blocks of modular homes - individual modules - are housing components constructed in a controlled factory environment.
- Individual modules are up to 90% complete and shipped from the factory to the home site. All walls, flooring, ceilings, stairs, carpeting, and even wall finish are completed in the factory before shipment.
- Once all building materials arrive at the factory, some manufacturers can assemble modules in a single day. Typically, a two-story, 2,500 sq. ft. home can be constructed in a factory in under a week.
- Aside from any cost savings, modular homebuyers benefit from the short assembly time of their home – reducing any amount of weather damage or home site vandalism. Over the life of the home, modular homes save money because they are incredibly efficient.
- In 2004, 42,700 modular homes were constructed in the United States
- From 1992-2002, modular housing production increased 48%
- One of every ten homes built in the northeast is a modular home. That region accounted for 29% of the nation’s modular activity in 2001. The South Atlantic region was a close second with 26%, and the Great Lakes region third, accounting for 24%.
- The most popular states for modular construction are North Carolina, Michigan, and New York.
|
Product |
Rate |
+/- |
Last week |
|
|
30 yr fixed |
|
5.16% |
5.20% |
|
|
15 yr fixed |
|
4.42% |
4.48% |
|
|
5/1 ARM |
|
3.90% |
4.00% |
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