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2016
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The Bureau of Economic Analysis reported on Friday that the second reading for fourth quarter Gross Domestic Product rose 1.0%, above the 0.4% expected and up from the initial reading of 0.7%. The gains were due in part to an uptick in inventory stockpiling. Within the report it showed that the c...
02/26/2016
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The Commerce Department reports that New Home Sales in January declined 9.2% from December to an annual rate of 494,000 units versus the 523,000 expected. December's rate of 544,000 had been the highest rate since the 545,000 in February of last year. Sales in the West were hit the hardest, decli...
02/24/2016
The National Association of REALTORS ® reported on Tuesday that January Existing Homes Sales edged up 0.4% from December to an annual rate of 5.47 million units, above the 5.30 million expected: this was the highest level since July. In the past year, sales are up 11%, the largest year-over-year ...
02/23/2016
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The January Consumer Price Index (CPI) was unchanged versus the -0.1% expected, while the Core CPI, which strips out food and energy, rose 0.3%, the largest gain since August 2011. Year-over-year, Core CPI rose by 2.2%, the largest rise since June 2012 due to rising rents and higher medical costs...
02/19/2016
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Mortgage rates remained just above all-time lows in the latest week due to uncertainty surrounding the the U.S. economy along with Stock market volatility. Freddie Mac reports that the 30-year fixed-rate mortgage was unchanged this week at 3.65% with 0.5 added on top in points and fees. Mortgage ...
02/18/2016
Americans ramped up spending in January on a variety of goods, signaling the consumer is alive and well. January Retail Sales rose 0.2%, while December was revised higher to 0.2% from -0.1%. This shows three straight months of positive gains. Cheaper gasoline prices pushed receipts at gas station...
02/12/2016
Federal Reserve Chair Janet Yellen is on Capitol Hill today giving testimony on monetary policy in front of the House Financial Services Committee. Ms. Yellen expects the economy to warrant only a gradual rise in the short-term Fed Funds Rate as some financial strains weigh on the current outlook...
02/10/2016
CoreLogic, a leading global property information, analytics and data-enabled provider, reported on Tuesday that completed foreclosures fell 5.6% from November to December and are down 22.6% compared to December 2014. In addition, foreclosure inventories fell nearly 24% from December 2014 to Decem...
02/09/2016
U.S. Stock markets are plunging today after suffering their worst weekly losses in a month last week. Global growth concerns coupled with sliding oil prices continue to weigh on the equity markets. The closely watched S&P 500 is down nearly 10% this year and is off 14% from the all-time highs see...
02/08/2016
The Bureau of Labor Statistics reported on Thursday that Q4 2015 worker Productivity fell by 3.0% versus -1.7% expected,reflecting the decline in economic growth during the quarter. Gross Domestic Product rose by just 0.7% in the final three months of 2015. Productivity rose just 0.6% in 2015, le...
02/04/2016
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans