Steve Reed Benchmark Home Loans

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ARCHIVED BLOG POSTS

2017 

Limited inventories of homes for sales are causing problems in the purchase market, reports the National Association of REALTORS®. April Pending Home Sales declined 1.3% from March and fell for the second consecutive month. Pending Home Sales are down year-over-year nationally in all four major r...
05/31/2017
The Bureau of Economic Analysis reported on Friday that the second read on first quarter Gross Domestic Product rose 1.2% from the original reading of 0.7%. Slow business and consumer spending continued to restrain growth in the first three months of 2017. Consumer Spending rose 0.6% from 0.3%, s...
05/26/2017
Mortgage rates continued to edge lower in the latest week as Bond prices hit six-month highs due to the political turmoil out of Washington in the past week. Freddie mac reports that the 30-year fixed conforming mortgage rate fell to 3.95% this week with 0.5 in points and fees added on top of the...
05/25/2017
The National Association of REALTORS® reported on Wednesday that Existing Home Sales in April fell 2.3% from March to an annual rate of 5.57 million units. This was below the 5.65 million expected. The sales slide was mainly due to low inventories of homes for sale. Inventories are running at a 4...
05/24/2017
A lone suicide bomber killed 22 and injured 59 overnight in at a concert in Manchester, U.K. ISIS has taken responsibility for the horrific attack. One person has been apprehended in connection with the bombing, while the bomber has yet to be identified. The attack occurred at an Ariana Grande co...
05/23/2017
Mortgage rates edged lower in the latest week and remain just above all-time lows. Freddie Mac reported that the 30-year fixed mortgage rate declined to 4.02% from 4.05% in the latest week with 0.5 in points and fees. Mortgage rates continue to remain low, due to low inflation and the political t...
05/18/2017
The housing market received a blow today after newly constructed housing fell to a six-month low, due in part to a plunge in rental construction. April Housing Starts fell 2.6% from March to an annual rate of 1.172 million units, below the 1.26 million expected. Single-family construction, which ...
05/16/2017
Home builder confidence grew in May as the housing market continues to strengthen. The National Association for Home Builders reported that its May Housing Market Index rose two points in May from April to 70. It was the second highest reading since the housing market downturn back in 2008 - 2009...
05/15/2017
April Retail Sales rose 0.4% versus the 0.6% expected, while x-autos gained 0.3%, below the 0.5% expected. The 0.4% was an improvement from the 0.1% reported in March, which was also revised higher from -0.3%. Consumers spent at auto dealers, hardware stores and e-commerce sites.The inflation rea...
05/12/2017
Inflation at the wholesale level jumped in April from March due to a rise in prices for food and energy. The Producer Price Index (PPI) rose 0.5%, above the 0.2% expected and above the -0.1% registered in March. For the past 12 months, PPI surged 2.5%, the biggest rise since February 2012. The so...
05/11/2017
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