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2017
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The S&P/Case-Shiller 20-city Home Price Index saw a 5.6% annual gain from December 2015 to December 2016, as low housing inventory continued to fuel rising home prices. Within the index it showed that Seattle, Washington; Portland, Oregon; and Denver, Colorado had the largest year-over-year gains...
02/28/2017
The National Association of REALTORS© reported today that potential buyers signed fewer contracts to purchase homes in January due in part to rising mortgage rates and low inventories. Pending Home Sales in January fell 2.8% from December, the lowest level in a year. The index represents signed c...
02/27/2017
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The Commerce Department reported on Friday that New Home Sales in January rose 3.7% from December to an annual rate of 555,000. The increase was below the 566,000 expected, but it comes after a 7% decline in December. Sales also were up 5.5% from January 2016. Within the report it showed that the...
02/24/2017
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The Dow Jones Industrial Average began the day with nine straight record high closes beginning at 20,775.60, while the S&P and NASDAQ are right near record highs. The major indices have been driven higher by positive corporate earnings, better-than-expected economic data, and President Donald Tru...
02/23/2017
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02/22/2017
The National Association of REALTORS® reported on Wednesday that Existing Home Sales in January surged by 5.69 million annualized units. This was up 3.3% from December to highs not seen since February 2007 (5.79 million). All major regions across the nation saw gains, with the exception of the Mi...
02/22/2017
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Web-based real estate database company Redfin says home prices and sales rose last month while inventory continued to decrease. U.S. home prices increased 7.9% while sales were up 5.6% from January 2016 to January 2017. In the same time, home inventories fell 12% over the past year, which was the...
02/21/2017
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Government sponsored entity Fannie Mae reported solid earnings on Friday as the secondary mortgage market provider has rebounded sharply from when the housing bubble burst back in 2008. Fannie Mae reported fourth quarter net income of $5 billion and a positive net worth of $6.1 billion. The compa...
02/17/2017
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The Commerce Department reported that Housing Starts declined 2.6% in January from December to an annual rate of 1.246 million; this was above the 1.220 million expected. December’s numbers were revised higher to 1.279 million from 1.226 million. Within the report it revealed that starts declined...
02/16/2017
Fed Chair Yellen is in front of the Senate Banking Committee beginning this morning at 10:00 a.m. ET for her semi-annual Humphrey-Hawkins speech, named for the 1978 law requiring the Fed update to Congress. The markets were looking for any clues as to the path of future interest rate hikes. Ms. Y...
02/14/2017
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans