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2015
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Investors around the globe will be eagerly awaiting the August Jobs Report, which is due to be released this Friday, September 4, at 9:30 a.m. ET. It is expected that employers added 217,000 new jobs during the month, down from the February high of 266,000. The Unemployment Rate is expected to fa...
08/31/2015
Inflation remained tame in July due to falling prices at the gas pumps, which could give the Federal Reserve reason to hold off on an interest rate hike in September. The Commerce Department's Bureau of Economic Analysis (BEA) reported that Core Personal Consumption Expenditure (PCE), which measu...
08/28/2015
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The Mortgage Bankers Association (MBA) reported on Wednesday that a recent study showed that housing demand will surge over the next ten years. The MBA feels that between 13.9 and 15.9 million households will be formed by 2023, making the next 10 years one of the strongest in housing in U.S. hist...
08/26/2015
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Housing news was abundant today showing positive gains for the sector. The Case Shiller 20-city Index rose 5% in the year ended in June, which was near expectations and matched the May reading. On a month-over-month basis, the index was down 0.1%. The big gains were seen in Denver (10.2%), San Fr...
08/25/2015
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After last week's selloff in the Stock markets the Dow Jones Industrial Average shed 1000 points. The closely watched Stock Index fell 1,100 points to begin this week after global Stock markets plunged overnight. Concerns of a slowing global economy, falling commodity prices and the specter of ri...
08/24/2015
Inflation at the consumer level remained tame in July as rising housing costs were offset by by little changes in most other consumer goods. The Bureau of Labor Statistics reported on Wednesday that the inflation reading Consumer Price Index rose 0.1% in July, below the 0.2% expected and down fro...
08/19/2015
Home builder confidence rose to its best level in 10 years fueled by job and economic gains in 2015. The National Association of Home Builders reported that its Housing Market Index rose one point to 61 in August, which was in line with expectations and the best level since November 2005. Buyer t...
08/17/2015
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Inflation at the wholesale level edged a bit higher than expectations, but still remains in negative territory over the past year. The Bureau of Labor Statistics reported that the Producer Price Index (PPI) rose 0.2% in July, above the 0.1% expected though down from the 0.4% recorded in June. The...
08/14/2015
The Mortgage Bankers Association (MBA) reported on Thursday that mortgage applications to purchase new homes decreased by 4% in July from June. The MBA said the decline was in line with the "slowdown observed in the overall purchase mortgage market." Another factor was the recent increase in mort...
08/13/2015
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Job openings across the nation edged lower in June, though current levels still suggest that demand for workers remains robust. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) revealed that job openings totaled 5.25 million in June, down from the 5.36 million in May. The job...
08/12/2015
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans