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2015
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The labor market continues to improve with robust job hiring in the private sector reported in September. ADP reported that private employers added 200,000 new workers this month, which was in line with expectations. The ADP report is based on data from businesses with almost 24 million workers o...
09/30/2015
Inflation remained tame at the consumer level as evidenced by the Core Personal Consumption Expenditure (PCE). The Core PCE rose by 0.1% in August from July, due in part to falling gas prices. Meanwhile, year-over-year Core PCE grew by 1.3%, which is well below the Federal Reserve's target level ...
09/28/2015
The Bureau of Economic Analysis reported Friday that the final reading for second quarter U.S. growth surged, led by higher consumer and business spending. Second quarter Gross Domestic Product rose by 3.9%, above the 3.7% expected and up from the 3.7% read from the second estimate. The 3.9% was ...
09/25/2015
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The Commerce Department reported Thursday that single-family home sales surged in August, while July’s numbers were also revised higher, signaling continued strength in the U.S. housing market. New Home Sales in August rose 5.7% from July to the highest rate since 2008 and are up nearly 22% since...
09/24/2015
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A recent study showed that the number of homes losing value monthly tripled in the past year. The report went on to say that a majority of the homes are still gaining value, however, the national trend is lower. Weiss Residential Research CEO Allan Weiss said, “In this environment buyers and inve...
09/23/2015
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Housing news continues to stream in with mixed results as the sector deals with tightening inventories and rising prices. The Federal Housing Finance Agency reported on Tuesday that home prices were up 0.6% in July from June. In the year ended in July, prices were up nearly 6%. The survey is base...
09/22/2015
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The National Association of REALTORS® reported on Monday that August Existing Home sales declined 4.8% from July to an annual rate of 5.31 million, below the 5.50 million expected. The drop comes after three straight monthly gains. Despite the decline in August, sales have risen year-over-year fo...
09/21/2015
Fannie Mae released its third quarter 2015 Mortgage Lender Sentiment Survey revealing that lenders say it's now easier to obtain a mortgage as credit standards are beginning to ease. A Fannie Mae spokesperson cited that lenders are growing more comfortable with certain guidelines along with becom...
09/18/2015
The Commerce Department reported on Thursday that Housing Starts fell 3% in August from July to an annual pace of 1.126 million units, below the 1.158 million expected. Within the report it showed that multifamily units fell 3% in August after the 23% decline in July. This comes after multifamily...
09/17/2015
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Consumer inflation was virtually non-existent in August, mainly due to falling oil and gasoline prices. The Consumer Price Index, which measures the cost of living, declined 0.1% last month and matched expectations. The -0.1% was the first negative reading since January. Over the past year, consu...
09/16/2015
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans
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