ARCHIVED BLOG POSTS
2017
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While 2017 was swamped with devastating weather-related headlines, the year was one shy of the record books. The country recorded 15 severe weather events costing $1 billion or more each through early October, one short of the record 16 in 2011, according to the federal government’s National Cent...
12/28/2017
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Economic growth remained solid in the third quarter of 2017, spurred on by robust business spending that was well above the weak levels experienced at the beginning of the year. The final read on third quarter Gross Domestic Product rose 3.2%, just above the 3.1% from second quarter. However, wit...
12/21/2017
U.S. Stocks are rebounding this morning as tax bill concerns out of D.C. wane. The closely watched S&P 500 stock index declined the most in a month on Thursday after Republican Senators Marco Rubio and Mike Lee declined to back the tax bill without changes to child tax credits. Stocks have rallie...
12/15/2017
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Inflation at the consumer level was somewhat tame in November, due in part to weak healthcare costs and a big drop in apparel prices. The Labor Department reported that the Consumer Price Index (CPI) rose 0.4% in November from October, which was inline with expectations. When stripping out volati...
12/13/2017
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Fannie Mae reported this week that its Home Price Sentiment Index rose 2.6 points in November near its all-time high from September. The net share of respondents who said now is a good time to buy a home increased 7 percentage points compared to October but remains down 1 percentage point compare...
12/12/2017
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The two-day Fed meeting kicks off on Tuesday and ends Wednesday with the 2:00 p.m.ET release of the Fed statement. Fed Chair Yellen will hold a press conference immediately following the release at 2:30 p.m. ET in what will be her last as Fed Chair. The Fed Funds Rate is expected to rise by 0.25%...
12/11/2017
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Industry trade group Airlines for America reports that between December 15 and January 4, 51 million passengers around the globe will likely fly on U.S. airlines during the holidays. That represents a rise of 3.5% from last year. The busiest days will be Thursday, December 21; Friday, December 22...
12/07/2017
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The Senate passed its version of the tax bill over the weekend and now the House and the Senate will reconcile their respective versions of the tax bill before it becomes a law. The news has sent U.S. Stocks considerably higher to begin the week now that the uncertainty surrounding taxes has ende...
12/04/2017
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The national homeownership rate in the U.S. as of September 30, 2017 was 63.9%, down from a peak of 69.2% at the end of 2004. Every 1 percentage point reduction in the homeownership rate represents 1.2 million households that have changed from homeowner to renter status.Freddie Mac reports that t...
12/01/2017
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Steve Reed
Steve Reed Branch Manager | Benchmark Home Loans