Steve Reed Benchmark Home Loans

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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...
04/02/2019
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...
03/19/2019
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...
03/18/2019
The week comes to an end with little fanfare in the absence of any major headlines. In economic news, manufacturing activity in the New York State region came in below expectations though the employment component increased. Preliminary March Consumer Sentiment came in at 87.8, beating estimates. ...
03/15/2019
The Census Bureau reports that delayed January New Home sales fell nearly 7% from December to an annualized rate of 607,000 units versus the 623,000 expected. However, December was revised higher to 652,000 from 621,000. Sales also declined year-over-year by 4.1%. Sales fell in the Northeast, Mid...
03/14/2019
Inflation at the wholesale level edged slightly higher in February led by higher gas prices though inflation remains contained. The February Producer Price Index (PPI) and Core rate both rose month-over-month by 0.1% just below the 0.2% expected further strengthening the low inflation environment...
03/13/2019
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What is the VA funding fee?The VA funding fee is a percentage of the loan amount that is applied to every VA purchase and finance. The proceeds from the fee go directly to the VA to help keep the loan guarantee program running. While this is a benefit that all veterans have earned, the fee helps ...
03/08/2019
After months of moderating from the highs seen last November, mortgage rates edged higher in the latest week. Rates still remain near 12-month lows, reports Freddie Mac. The 30-year fixed-rate mortgage rose six basis points in the latest week to 4.41% with an average 0.50 in points and fees. A ye...
03/07/2019
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Private payroll growth slowed in February though still at a solid pace led by a slowdown in the retail and travel industries. ADP Private Payrolls estimates that 183,000 jobs were created in February with expectations ranging from 175,000 to 190,000. January was revised higher to 300,000 from 213...
03/06/2019
The Census Bureau reports that New Home Sales rose 3.7% in December to an annual rate of 621,000 units, a seven-month high and above the 572,000 expected. Sales were down 2.4% from December 2017 to December 2018 while sales for November were revised lower to 599,000 from 657,000. The Northeast sa...
03/05/2019
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