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2015
U.S. economic growth eased a bit in the fourth quarter of 2014, led lower by a decline in stockpiles and trade gap. The Gross Domestic Product (GDP) rose by 2.2% in the second reading, down from the 2.6% originally reported. For all of 2014, GDP was up 2.4%. Within the report it showed that consu...
02/27/2015
Sales of New Homes were relatively flat in January from December, though the rate of sales are near multi-year highs. The continued improvement in the U.S. economy and the job market give hopeful signs for the sector. January New Home Sales came in at an annual rate of 481,000 units, which was ab...
02/25/2015
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Home prices across the nation and in 20-select cities rose in December, but are well below the lofty price gains seen in 2013 and early 2014. The S&P Case Shiller 20-city Home Price Index was up 4.5% from December 2013 to December 2014, while month-over-month prices were up 0.9%. The 4.5% was jus...
02/24/2015
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The National Association of REALTORS® (NAR) reported on Monday that Existing Home Sales in January fell to their lowest levels since last April as tight inventories, seasonal weather and the ongoing rise in prices kept buyers out of the market. Sales fell to an annual rate of 4.82 million units, ...
02/23/2015
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Rental prices continued to rise in January across the nation on average, though prices remained steady in parts of the Midwest and Mid-Atlantic, according to real estate data firm Zillow. Prices rose by 3.3% last month, compared to January 2014. In the wake of the Great Recession, more people shi...
02/20/2015
Construction on new homes edged lower in January from December due to higher prices and tighter credit conditions along with adverse weather conditions across the country. Housing Starts rose by 1.063 million units on an annualized basis, which was below the 1.07 million units and down 2% from De...
02/18/2015
Gas prices at the pump continue to edge higher in the latest survey after hitting multi-year lows early in 2015. The national average price for a regular gallon of gasoline is at $2.25, up from $2.07 a month ago. The recent rise could be attributed to the fact that refineries have begun maintenan...
02/17/2015
Consumer Sentiment eased in early February falling from an 11-year high in January due to concerns of stagnant wage growth. The Consumer Sentiment Index came in at 93.6, versus the 98.3 expected, and down from 98.1 in the previous month. Within the report it showed that both current economic cond...
02/13/2015
Americans were able to spend less on gas at the pumps in January, but the savings weren't spent on goods and services and could have been socked away in their bank accounts. The Commerce Department reported that January Retail Sales fell by 0.8% last month, below the 0.4% expected, with sales fal...
02/12/2015
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A recent poll of 82 economists revealed that the U.S. economy is expected to record its best performance in 10 years due to an improving job market, which should increase consumer demand for goods and services. The poll showed that the economy should grow by 3.2% in 2015, which would be the faste...
02/11/2015
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans