Steve Reed Benchmark Home Loans

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RECENT BLOG POSTS
The NFIB Small Business Optimism Index edged lower in June from May though it remains near historically high levels. The index fell to 103.3 from 105.0 in May. The NFIB commented that if economic growth slows, that is not bad in a fully employed economy that can’t find enough workers to fill open...
07/09/2019
Pending home sales declined by 1.5% in April from March while also seeing a drop year-over-year, marking the 16th straight month of annual declines. Pending home sales occur when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or tw...
05/30/2019
Home price gains continued to cool in March and are moving down to more normal historical levels. The S&P Case-Shiller 20-City Home Price Index saw a 2.7% annual gain, down from the 3% annually recorded in February and well below the near-7% gains seen year-over-year in March 2018. “Home price ga...
05/28/2019
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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...
05/03/2019
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...
05/01/2019
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 ...
04/25/2019
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...
04/16/2019
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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...
04/15/2019
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 ...
04/12/2019
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 ...
04/03/2019
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