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The partial government shutdown ended last Friday so the delay of sales of newly built homes for November was reported today with a big number. November New Homes Sales jumped 17% from October to an annual rate of 657,000 units, well above the 555,000 expected. However, sales were down 7.7% from ...
Fannie Mae released its January 2019 Economic and Housing Outlook showing that slower economic growth is expected in 2019, but a patient Fed could put housing on a firmer footing. The report went on to say that with the forecast of a slower pace of housing price gains this year, stable rates shou...
This morning, JPMorgan Chase CEO Jamie Dimon said the U.S. economy should continue growing steadily but mentioned the big hurdles in Brexit, China and the government shutdown. He said if the Fed gets it right and if Congress can straighten out the shutdown, GDP could grow at a consistent 3% rate....
The National Association of REALTORS® reports that Existing Home Sales fell 6.4% in December from November to an annual rate of 4.99 million annualized units versus the 5.25 million expected. Lower sales in December were due in part to higher mortgage rates in early December along with an ease in...
What an honor to partner with Chad Fleming. We truly care about our Veterans and First Responders and will never quit serving these heroes!!
The Labor Department reported on Friday that 312,000 new workers were added in December, well above the 180,000 expected, and brings the three-month average to a frothy 254,000K! The 312,000 was the largest increase since February 2018's 324,000 while October and November were revised higher by a...
Mortgage rates continued to decline this week due in part to U.S. Stocks melting down, which pushed Bond prices higher and rates lower. Freddie Mac reports that the 30-year fixed-rate mortgage fell four basis points to 4.51% with an average 0.50 in points and fees. Freddie Mac said, "Low mortgage...
CoreLogic reports that home prices, including distressed sales, rose 5.1% from November 2017 to November 2018, just below the 5.4% gain seen in October. That is down from the 7% gain seen year-over-year in March of this year. On a month-over-month basis, prices rose 0.4% from to October 2018 to N...

Steve Reed

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