ARCHIVED BLOG POSTS
2013
Inflation remained tame in July as evidenced by the Core Personal Consumption Expenditure, which measures prices paid by consumers for goods and services, rising by 0.1%, inline with expectations and down from the 0.2% registered in JUne. Inflation has been running low and below the Federal Reser...
08/30/2013
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Positive economic data hit the wires this morning after several weeks of sub-par reports. The news is buoying Stocks in and capping Bond prices. With the holiday weekend looming, most of the heavy hitters will begin to close shop and head out today for an extended vacation. The Commerce Departmen...
08/29/2013
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The housing sector took another hit this morning and comes after last Friday's weak numbers from New Home sales. The National Association of Realtors reported that Pending Home Sales in July fell by 1.3% due in part to the rise in home loan rates and seasonal factors. However, sales are up 6.7% f...
08/28/2013
$221,000 , 2 bedrooms, 2 full baths, 0 half baths, 1,718 square feet Lee Adams | RE/MAX Checkmate Inc | (423) 833-4144 367 Villa View Pt, Johnson City, TN 1 Story,Condo - Johnson City 2BR/2BA Condo offered at $221,000 Year Built 2007 Sq Footage 1,718 Bedrooms 2 Bathrooms 2 full, 0 partial ...
08/27/2013
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The Commerce Department reported this morning that products lasting more than three years had their biggest decline since August of 2012. The Durable Orders report fell by 7.3% in July, below the -0.5% expected and down from the +3.9% registered in June. Orders for aircraft, computers and defense...
08/26/2013
The housing sector took a hit this morning on news that New Home Sales declined by nearly 14% from June to July to the lowest level in nine months. New Home Sales fell to 394,000 units annualized and below the 485,000 that was expected. In addition, June was revised lower to 455,000 from the 497,...
08/23/2013
Americans filing for first time unemployment benefits rose in the latest week, but filings have been declining and remain near six-year lows. The Labor Department reported that Weekly Initial Jobless Claims rose by 13,000 in the latest week to 336,000 and just near expectations. The Federal Housi...
08/22/2013
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The Mortgage Bankers Association reported today that its Market Composite Index, a measure of loan application volume, fell by 4.6% in the latest week as home loan rates rose 12bp to 4.68%. The refi index fell 8% while the purchase index was up 1%. The housing sector got a boost this morning as E...
08/21/2013
The Federal Housing Administration (FHA) has recently announced that it will begin offering mortgage insurance to troubled borrowers. Those who may have lost their homes through a foreclosure or short-sale or who may have filed for bankruptcy would have to be able to prove they are no longer fina...
08/20/2013
There are no economic reports set for release today and the rest of the week's calendar is on the light side. Readings on Existing and New Homes along with Weekly Initial Jobless Claims will be the highlights. Stock prices begin the new week slightly higher while Bond prices are lower. The big ev...
08/19/2013
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans