Steve Reed Benchmark Home Loans

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2016 

U.S. economic growth declined in the fourth quarter of 2015 as businesses ramped up efforts to reduce inventory, while the stronger dollar and weak global demand weighed on exports. The Bureau of Economic Analysis reported that Gross Domestic Product (GDP) fell to 0.7% in the final three months o...
01/29/2016
The U.S. Federal Reserve kept interest rates on hold at yesterday's Federal Open Market Committee meeting. The Monetary Policy Statement revealed that U.S. economic growth somewhat slowed in the last three months of 2015, while the labor market remained strong. On the inflation front, the Fed's t...
01/28/2016
The Commerce Department reported on Wednesday that December New Home Sales surged 10.8% from November to an annual rate of 544,000 units, above the 506,000 expected. It was third consecutive monthly gain and the third best annual gain since 2008. Sales rose 14.5% in 2015 to 501,000 due to increas...
01/27/2016
The housing markets begin the new year with positive news on home price appreciation. The S&P/Case Shiller 20-city Home Price Index rose 5.8% year-over-year due to continued low mortgage rates, tight supplies and an improving labor market. On a monthly basis, prices were up 0.9% from October, the...
01/26/2016
The National Association of REALTORS® reported on Friday that December Existing Home Sales surged nearly 15% from November to an annual rate of 5.46 million units, above the 5.12 million expected. However, the big gains could be because of closing being put off until December due to TRID rules or...
01/22/2016
Global economic woes pushed investors to the safe haven of the Bond markets to begin the new year and out of riskier assets, such as Stocks and commodities. When Bond prices rise, mortgage rates tend to push lower as they have an inverse relationship. Freddie Mac reports that the 30-year conventi...
01/21/2016
Fannie Mae reports that the housing recovery will march on as several factors affecting the ability of households to purchase a home continue to improve. Fannie expects that further labor market tightening will lead to a pickup in compensation and increased job security. In addition, a recent len...
01/19/2016
The foreclosure arena got a little brighter today as RealtyTrac reported that 2015 foreclosure filings fell to their lowest level since 2006. RealtryTrac said that there were nearly 1.1 million properties with foreclosure filings in 2015, the lowest since 2006 with 717,522. In addition, the 103,3...
01/14/2016
After a sharp decline in mortgage activity during the holidays, the Mortgage Bankers Association's (MBA) Market Composite Index, a measure of total loan application volume, surged 21.3% in the latest week. The refinance index rose by 24%, while the purchase index was up nearly 18%. An improving j...
01/13/2016
The Bureau of Labor Statistics (BLS) reported on Tuesday that job openings rose in November, which led to more Americans to leave their current jobs and search for better positions. The BLS reported that this was the most people that left their jobs in more than seven years. In November, the numb...
01/12/2016
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