Steve Reed Benchmark Home Loans

The first of two key labor market reports was released this morning showing that employers in the private sector added fewer workers than expected, but still at solid levels. Payroll processor ADP reported on Wednesday that there were 178,000 new workers added in May, just below the 183,000 expec...

The National Association of REALTORS® (NAR) released its midyear forecasts revealing that a stronger economy, higher wage growth and a tight labor market are expected to push both home sales and prices higher in 2018. However, low inventories of homes for the sale on the market along with falling...

Fannie Mae released its May 2018 Economic and Housing Outlook yesterday revealing that despite a lusterless first three months of 2018, it expects home sales to post decent gains both this year and next, as prices increase and affordability declines amid low inventory. On the economic front, Fann...

Consumers spent broadly across most retail sectors in April after a sluggish start in the beginning of the year. The Commerce Department reported that Retail Sales rose 0.3% from March to April, which was concentrated on sales at furniture stores, clothing stores and gasoline stations. March’s re...

This morning, the Federal Reserve Bank's Loretta Mester (voter, hawk) says the Fed could raise rates more rapidly if the U.S. economy grows faster than expected, though it could go slower if inflation weakens. Ms. Mester went on to say that she doesn't see inflation picking up sharply this year. ...

Consumer prices cooled a bit in April after spiking early in the year, helping to ease rising inflation fears. The numbers revealed an uptick in energy and food prices which was offset by a decline in demand for used cars and trucks. The Bureau of Labor Statistics reports that the headline Consum...

Wholesale inflation was rather tame in April with the smallest amount of gains seen since the end of 2017. The decline was led by lower prices for food and gas. The April Producer Price Index rose by 0.1%, below the 0.2% expected and down from the 0.3% recorded in March. On a year-over-year basis...

The NFIB's Small Business Optimism Index sustained record-high levels in April of 104.8, driven by reports of improved profits, which pushed the index to its highest level in the survey's 45-year history. "There is no question that small business is booming," said NFIB Chief Economist Bill Dunkel...

High demand, limited supply of homes for sale on the market, along with new home construction running below historically normal levels pushed home prices higher in March. CoreLogic reports that home prices, including distressed sales, rose 7% from March 2017 to March 2018, while there was a 1.4% ...

The Bureau of Economic Analysis reported on Friday that economic growth in the first quarter of 2018 slipped from the final three months of 2017, though the number did beat estimates. The first reading on Gross Domestic Product showed a gain of 2.3%, down from the 2.9% recorded in the previous qu...