ARCHIVED BLOG POSTS
2015
The Commerce Department reported on Friday that consumer spending registered its lowest reading in eight months, while incomes barely rose. This signals an ease in domestic demand as the holiday shopping season draws near. Personal Spending rose a scant 0.1% in September, just below the 0.2% expe...
10/30/2015
Economic growth in the third quarter of 2015 slowed across the nation, but it was mainly due to a big decline in inventories, particularly goods that are being exported. The Bureau of Economic Analysis reported that the first reading on Gross Domestic Product (GDP) in the third quarter rose 1.5%,...
10/29/2015
2
Comments
Federal Reserve bank members will end their two-day meeting on the health of the U.S. economy today in Washington, D.C. with a 2:00 p.m. ET release of its Monetary Policy Statement. There is little chance that the short term Fed Funds Rate will rise from near zero percent levels, given low inflat...
10/28/2015
0
Comments
Home prices across the nation rose in August signaling there is some momentum in the sector headed into year-end. The Case Shiller 20-city Home Price Index rose by 5.1% year-over-year in August, just above the 5.0% expected. From July to August, there was an increase of 0.1%. For the entire natio...
10/27/2015
The Commerce Department reported on Monday that September New Home Sales fell 11.5% from August to an annual rate of 468,000 units, below the 550,000 expected. August was revised lower to 529,000 from 552,000. The Northeast was the hardest hit with a near 62% decline from August. Despite the Sept...
10/26/2015
0
Comments
The foreclosure segment of the housing market continued to receive positive news today. Analytics firm CoreLogic reported on Monday that completed foreclosures declined year-over-year from 46,000 in August 2014 to 36,000 in August 2015, a near 21% decrease. Completed foreclosures reflect the tota...
10/13/2015
0
Comments
Black Knight Financial Services reported on Monday that cash levels seen in 2005. Despite the big drop off in refinancing, Black Knight said that "borrowers have been capitalizing on the increased equity available to them." Black Knight went on to say that low mortgage rates have also been a fact...
10/05/2015
1
Comments
The labor market suffered a setback in September as the number of jobs created was well below expectations. The Bureau of Labor Statistics reported on Friday that employers added 142,000 jobs in September, below the 205,000 expected. For July and August, revisions totaled minus 59,000, when many ...
10/02/2015
Rainmaker
301,705
301,705
Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans