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2016
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Home price gains remained steady in March due in part to a limited supply of homes on the market. The S&P Case-Shiller 20-city Home Price Index rose 5.4% this March from March 2015. From February to March, prices rose 0.9%. The S&P Case Shiller National Home Price Index was up a solid 5.2% from t...
05/31/2016
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The Bureau of Economic Analysis reported on Friday that the second reading for first quarter 2016 Gross Domestic Product (GDP) rose 0.8% versus the 0.9% expected and up from the first reading of 0.5%. The number is still anemic, though the Atlanta Fed Bank has the second quarter GDP forecast risi...
05/27/2016
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Freddie Mac reported last week that despite low mortgage rates, rapidly rising house prices and tight inventory make affordability and availability major challenges for would-be homebuyers. In the latest Freddie Mac House Price Index it revealed that first quarter 2016 house price appreciation gr...
05/23/2016
Global stocks mostly ended lower, pushed down from a variety of factors including fluctuating oil prices, lackluster earnings, and currency gains against the U.S. dollar. Financial services led the declines across Europe. Utility and media stocks also took hits. Asian stock markets ended mixed. T...
05/11/2016
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The Mortgage Bankers Association (MBA) reported late last week that mortgage credit availability tightened in April, mainly due to tightening conditions in the high balance and jumbo loan arena. Despite low mortgage rates, qualifying for mortgage loans has grown tougher since the housing bubble b...
05/09/2016
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Job growth slowed in April as employers got jittery after seeing weak economic growth in the first quarter of 2016. The Bureau of Labor Statistics reported on Friday that U.S. employers added 160,000 jobs in April, below the 207K expected, while February and March were revised lower by a total of...
05/06/2016
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The first of two key labor market reports was released today showing that private employment in April grew less than expected. The weaker numbers could be signaling that the global economic woes may be impacting hiring here in the U.S. Payroll processor ADP reported that private payrolls grew by ...
05/04/2016
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U.S. Stock markets are plunging today after weak economic data abroad signals that the global economic slowdown has resurfaced. News from China showed a slowdown in its manufacturing sector, while Australia unexpectedly lowered its benchmark interest rate, signaling that the country may be in wor...
05/03/2016
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans