ARCHIVED BLOG POSTS
2014
There was a cornucopia of economic data that hit the wires this morning that covered a broad base of the U.S. economy. The Commerce Department reported that New Home Sales in October rose by 0.7% from September to an annual rate of 458,000 units. September was revised lower to 455,000 from 467,00...
11/26/2014
The lofty home price gains seen in 2013 are quickly fading to more sustainable levels in 2014. The September Case Shiller 20-city Home Price Index rose by 4.6% from September 2013, the slowest gain in two years. The 4.6% is down from the August annual rate of 5.6%, but above 4.6% expected. Septem...
11/25/2014
This week's market action is holiday shortened given the Thanksgiving holiday on Thursday. The Stock and Bond markets will be closed on Thursday, while Friday will see the Bond markets closing early at 2:00 p.m. ET and Stocks closing at 1:00 p.m. ET. The U.S. Post Office will not deliver mail on ...
11/24/2014
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The housing market received good news this morning as the National Association of REALTORS® reported that Existing Home Sales in October rose by 1.5% from September. Sales came in at an annual rate of 5.26 million units, which was above the 5.17 million expected. Buyers have been encouraged by th...
11/20/2014
The government reported mixed housing news on Wednesday stating that October Housing Starts declined by 2.8% from September to an annual rate of 1.01 million units. That was below the 1.025 million expected. Single-family starts rose by 4.2%, while multi-family dwellings fell by nearly 16%. Build...
11/19/2014
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News from the housing sector showed that confidence among home builders is on the rise, after some weak readings earlier in the year. Rising consumer confidence has been a key reason for the turnaround. The National Association of Home Builders (NAHB) reported on Tuesday that its Housing Market I...
11/18/2014
News from abroad read that Japan has fallen into a recession after the country's Gross Domestic Product (GDP) declined for two consecutive quarters. A recession is defined as a significant decline in economic activity, which includes industrial production, employment, real income and wholesale re...
11/17/2014
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The Labor Department reported this morning that Americans filing for first time unemployment benefits rose in the latest week, but continue to remain near multi-year lows. Weekly Initial Jobless Claims were up 12,000 in the latest week to 290,000, which was above the 280,000 expected. Claims have...
11/13/2014
The Mortgage Bankers Association (MBA) reported today that despite home loan rates hovering near 18-month lows, mortgage applications fell in the latest week. As the holiday season approaches, decisions on purchasing or refinancing mortgages could be taking a back seat. The MBA reported that its ...
11/12/2014
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The list of U.S. retailers to remain closed on Thanksgiving continues to grow this year as they give their workers a break and maintain their reputations. Retailers are now pushing back against the "Black Friday creep", where retailers open for business on Thanksgiving. A Sam's Club spokeswoman s...
11/11/2014
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans