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2015
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Apple reported quarterly earnings on Tuesday evening easily surpassing Wall Street estimates. The company reported that it sold 34,000 iPhones per hour, 24 hours a day in each and every day of the quarter! That's a lot of hardware, which came to 74.5 million iPhones sold in the quarter. The iPhon...
01/28/2015
The housing markets received good news in December to end a mixed year for the sector. The Commerce Department reported that Housing Starts rose by 4.4% from November to an annual rate of 1.09 million units, which was the highest annual pace in seven years. The 1.09 million was above the 1.04 mil...
01/21/2015
Home builder sentiment across the nation slipped modestly in January, but still remains well above levels seen in early 2014. The National Association of Home Builders reported that its Housing Market Index slipped to 57 in January, which was just below the 58 expected. Readings above 50 indicate...
01/20/2015
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Inflation at the wholesale level remained tame in December due in part to declining gas prices. The Producer Price Index (PPI), which measures prices paid to companies for their goods and services, declined by 0.3% last month, the largest decline in three years. The drop signals that lower oil an...
01/15/2015
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The National Retail Federation reported on Wednesday that holiday sales rose by 4% to $616.1 billion from a year earlier, led by big discounts and a longer shopping season. The 4% was well above the 3.1% registered in the previous year and above the 10-year average of 2.9%. Also lending to more r...
01/14/2015
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The big news today continues to be the declining price of oil due to over supply and weakening demand from Europe and Asia. The price of West Texas Intermediate fell to the mid-$46/barrel range, a low not seen in five and a half years. In addition, Goldman Sachs slashed its forecast for oil from ...
01/12/2015
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The jobs sector of the U.S. economy continued to deliver solid numbers as 2014 came to an end. Payroll processor ADP reported that private employers added 241,000 new workers in December, above the 230,000 expected, while the November numbers were revised higher to 227,000 from 208,000. The gains...
01/07/2015
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Home price gains across the U.S. are well off the gains seen in early 2014 as prices come back down to more normal levels. CoreLogic reported that its Home Price Index, including distressed sales, rose by 5.5% in the year ended in November, just above the 5.4% annual gain recorded annually in Oct...
01/06/2015
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The auto industry continues to enjoy robust sales after the sector took a beating during the Great Recession. Ford announced that December sales increased 1.2% to 220,671 units, its best December since 2005. General Motors, which went bankrupt in 2009, reported a 19% increase in sales selling 274...
01/05/2015
Oil prices continue to decline due to a glut of supply along with weakening demand from overseas. A barrel of oil has fallen to near $52, down from the 2014 high of near $107 hit back in July. The decline has led gas prices at the pump to 5-year lows. The national average price for a regular gall...
01/02/2015
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans
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