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Mortgage and Lending - Benchmark Home Loans - 173024
The Labor Department reported this morning that there were 263,000 jobs created in April, well above the 180,000 - 200,000 range expected while February and March were revised modestly higher by a total of 16,000. The unemployment rate fell to 3.6%, the lowest since December 1969 while average ho...
Job growth in the private sector surged in April led by hiring in the service sector. ADP private payrolls rose by 275,000 last month, well above the 170,000 expected. The numbers showed that small businesses added 77,000 jobs, medium-size companies added 145,000 and big business 53 of the job ga...
Mortgage rates continue to edge higher in the latest survey though still remain at 12-month lows in this low inflationary environment. Freddie Mac reports that the 30-year fixed-rate mortgage rose three basis points to 4.20% with an average 0.50 in points and fees.Sam Khater, Freddie Mac’s chief ...
Home builders remained confident in the market for newly-built single-family homes in April though they continue to deal with affordability concerns due to a shortage of construction workers and buildable lots. The NAHB Housing Market Index rose one point this month to 63 where any number over 50...
US stocks are lower to begin the holiday shortened trading week after mixed earnings numbers from Goldman Sachs and Citigroup as earnings season kicks into high gear. The S&P 500 Stock Index, currently at 2,902, is now just 26 points from its all-time closing high of 2,930 hit back on September 2...
Corporate earnings season kicked off on a high note today with the banking sector coming in with solid numbers. Both JPMorgan Chase and Wells Fargo beat expectations for revenues and profits. Earnings season will give investors insight as to whether or not the US economy is cooling and what will ...
Low mortgage rates drove mortgage loan application volumes sharply higher in the latest week as borrowing costs fell to 14-month lows. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage fell to 4.36% from 4.45%, the lowest since January 2018, with an average 0.44 ...
CoreLogic reports that home prices, including distressed sales, rose 4% from February 2018 to February 2019 as gains begin to cool to more normal levels after the 4.4% increase year-over-year seen last month in January. In early 2018, gains were seen in the 7% range. Month-over-month, prices rose...
Foreclosure activity continued to decrease in February due in part to rising wages and a strong labor market. ATTOM Data Solutions reports that foreclosure filings - default notices, scheduled auctions and bank repossessions - declined 3% from January to February and were down 11% from February 2...
Home builder confidence remained steady in early March due in part to lower price points along with increased affordability of affordably priced homes. The National Association of Home Builders reports that its Housing Market Index came in at 62 versus 63 expected and matched the 62 reading in Fe...

Steve Reed

Steve Reed Branch Manager | Benchmark Home Loans
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