ARCHIVED BLOG POSTS
2015
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U.S. economic growth in the first quarter of this year fell into negative territory, due in part to the West coast port strike, harsh winter weather, along with a widening trade deficit. The Bureau of Economic Analysis reported on Friday that the second estimate for Gross Domestic Product (GDP) f...
05/29/2015
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 Luxury home builder Toll Brothers reported a better than expected quarterly profit due in part to a lower tax provision coupled with a pick up in business in California. Toll Brothers is forecasting an increase in housing demand with the improvement in the job market and an uptick in wages. The ...
05/27/2015
Housing news dominates the headlines this week. The Commerce Department reported on Tuesday that sales of newly constructed homes rebounded in April, up from the dip in March, as the spring buying season got underway. New Home Sales rose by 6.8% to an annual rate of 517,000, which was above the 5...
05/26/2015
The National Association of REALTORS® reported that Existing Home Sales in April fell by 3.3% from March to an annual rate of 5.04 million, below the 5.24 million expected. Despite the decline, sales have increased year-over-year for seven consecutive months and are up 6.1% from a year ago. The m...
05/21/2015
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Home loan rates have edged higher in the past few weeks as Bond yields rose due a rosier economy and a strengthening job market. The Mortgage Bankers Association reported that the fixed 30-year conventional ($417,000 or less) rose to 4.04% in the latest survey, the highest since December 2014. Th...
05/20/2015
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The warmer temperatures in April helped home builders break new ground on housing units, with levels not seen in nearly eight years. The Commerce Department reported that Housing Starts surged by 20% in April from March to an annual rate of 1.14 million, which was also the biggest percentage gain...
05/19/2015
Home Builder Sentiment across the nation eased a bit in May, though builders still remain optimistic. Consumers have expressed some concerns regarding their financial conditions and would like to be on more stable ground before purchasing a home. The National Association of Home Builders Housing ...
05/18/2015
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U.S. economic data continues to stream in with mixed numbers, despite five years into a post recession period. The May Consumer Sentiment Index fell to 88.6 for the first of two readings this month and fell by the most in more than two years. Expectations were calling for a number of 96.0. A spok...
05/15/2015
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Online real estate data firm and broker Redfin reported today that home sales across its markets rose at a rate of 5.4% from April 2014 to April 2015. In addition, the median home price rose 6.5% to $275,000 over the same period. April was the third month in a row that prices grew above 6%, signa...
05/14/2015
Consumers pulled back on spending for autos and other big ticket items in April as the windfall from lower gasoline prices was tucked away in savings accounts. Stagnant wages coupled with not-so-good prospects on the economy were a few reasons for the ease in spending. Retail Sales in April were ...
05/13/2015
Rainmaker
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans