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2014
U.S. housing data continues to flip between positive and negative. The National Association of REALTORS® (NAR) reported that August Pending Home Sales declined by 1.0% from July and comes after weak Existing Home Sales data and a strong New Home Sales data last week. Pending Home Sales were expec...
09/29/2014
Economic growth surged in the second quarter of 2014, after the anemic reading that was seen in the first quart of this year. The big gains were led by an uptick in exports and business investments. The Bureau of Economic Analysis (BEA) reported that the final reading for 2nd quarter Gross Domest...
09/26/2014
Americans purchasing new homes surged in August as sales pushed to the highest level in six years and was the biggest monthly percentage increase since January 1992. The Commerce Department reported that August New Home Sales rose by 18% from July to an annualized rate of 504,000 units, well abov...
09/24/2014
The Treasury Department announced on Monday that it will begin cracking down on "tax inversions." This would target U.S. companies that are looking to move their headquarters overseas by purchasing a foreign company and switching citizenship to that country in an effort to avoid paying U.S. taxes...
09/23/2014
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Sales of previously owned homes declined from July to August to the first monthly decline in five months, due in part to a decrease in all cash Sales. The National Association of REALTORS® (NAR) reported August Existing Home Sales fell by nearly 2% from July to an annual rate of 5.05 million unit...
09/22/2014
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Headlines out of Europe today saw that the Scottish people voting no on independence, remaining under the rule of the United Kingdom, which it has been under for 307 years. The no vote put to rest the mechanics of which currency Scotland would use if the vote was yes. The news pushed global Stock...
09/19/2014
The housing markets received some sour news today as sales for new home construction declined in August from July. The Commerce Department reported that New Home Sales fell by 14.4% last month to an annualized rate of 956,000 units, which was below the 1.117 million rate in July and below the 1.0...
09/18/2014
The Labor Department reported today that consumer prices pushed lower in August mainly due to a big drop in energy prices, which offset advances in food and shelter costs. The Consumer Price Index (CPI) fell by 0.2% last month, below the 0.0% that was expected and was the first decline since Apri...
09/17/2014
Inflation at the wholesale level was unchanged in August as measured by the Producer Price Index (PPI). Lower prices for gasoline and food costs were the main reasons behind the benign inflation. The Core PPI, which strips out volatile food and energy, rose by 0.1%, both were inline with estimate...
09/16/2014
Manufacturing activity in the New York State region surged in September to its highest level since October 2009, while the forecast for future business conditions conveyed a high degree of optimism. The New York Empire State Manufacturing Index rose to 27.5 in September, well above the 16.0 that ...
09/15/2014
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans