Steve Reed Benchmark Home Loans

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Mortgage and Lending - Benchmark Home Loans - 173024
RECENT BLOG POSTS
A shortage of homes for sale on the market continued to drive home prices higher in May, reports the Federal Housing Finance Agency (FHFA). The FHFA's House Price Index (HPI) rose 0.2% in May from April, +6.4% from May 2017 to May 2018. The FHFA monthly HPI is calculated using home sales price in...
07/24/2018
Home purchase loan closings rose in June while refinancing activity declined, reports Ellie Mae. Ellie Mae's Origination Insight for June revealed that 71% of all loans in June represented home purchases, up from 70% in May and a new high since the report began in 2011. Refinance closings fell to...
07/20/2018
The number of Americans filing for first-time unemployment benefits fell to the lowest levels in more than 48 years as the labor market continues to gain strength. Weekly Initial Jobless Claims fell by 8,000 to 207,000, below the 220,000 expected, in the week ended July 14. It was the lowest leve...
07/19/2018
U.S. home builders broke ground on fewer homes than expected in June, due in part to higher costs for lumber, a lack of available land to build on land and a shortage of construction workers. June Housing Starts fell 12.3% in June from May to an annual rate of 1.173 million units versus the 1.318...
07/18/2018
Foreclosure activity continues to decline and is down significantly from the peak seen in early 2010. ATTOM Data Solutions reports that there were 362,275 properties with foreclosure filings, default notices, scheduled auctions or bank repossessions in the first half of 2018, down 15% from the sa...
07/17/2018
Consumer Sentiment edged lower in early July but remains near lofty levels. The continued strength in the index is due in part to favorable job and income prospects. The preliminary July Consumer Sentiment Index came in at 97.1 versus the 97.8 expected and down from 98.2 in June. Looking ahead, t...
07/13/2018
Higher energy costs pushed wholesale prices higher in June which led to the biggest annual increase in prices in 6 1/2 years. The Producer Price Index (PPI) rose 3.4% annually in June while month over month saw an increase of 0.3%. The so-called Core PPI, which strips out volatile food and energy...
07/11/2018
The NFIB Small Business Optimism Index remains historically high as sales and profits maintained strength in June. The Small Business Optimism Index hit 107.2 in June, down 0.6 from May, its sixth highest reading in survey history. "The first six months of the year have been very good to small bu...
07/10/2018
Sentiment in the home purchase market slipped in June from May, reports Fannie Mae. The Fannie Mae Home Purchase Sentiment Index (HPSI) fell 1.6 points in June from May to 90.7. The net share of Americans who said now is a good time to purchase a home was unchanged. Americans expressed a decrease...
07/09/2018
Mortgage rates declined over the past week and have now decreased in four of the past five weeks. Rates hit their high water mark at the end of May due in part to an improving economy and modestly higher inflation pressures. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 4.55% t...
06/28/2018
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