Steve Reed Benchmark Home Loans

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Mortgage and Lending - Benchmark Home Loans - 173024
RECENT BLOG POSTS
The U.S. Census Bureau recently released its quarterly residential vacancies and homeownership numbers for the fourth quarter of 2018. It was reported that rental prices posted their largest quarterly decline in 30 years as more renters moved to homeownership. The rental price in the fourth quart...
03/04/2019
The Fed's favorite inflation gauge, the Core Personal Consumption Expenditures (PCE) was unchanged year-over-year at 1.9% this morning as inflation remains in check. The Fed has forecasted that the Core PCE will stay close to current levels for three years out, which should hold interest rates re...
03/01/2019
Yesterday Fed Chair Powell's testimony in front of the Senate Banking Committee reiterated the Fed will remain patient on interest rate hikes while watching the incoming data. He went on to say that the FOMC will "evaluate the appropriate timing and approach for the end of the balance sheet runof...
02/27/2019
Delayed December Housing Starts fell 11.2% from November to an annual rate of 1.078 million units versus the 1.254 million expected. It was the slowest pace since September 2016. Building Permits were essentially unchanged at 1.326 million versus the 1.290 million expected. Year-over-year, Housin...
02/26/2019
Lower mortgage rates coupled with an increase in refinance application volume spurred on an increase in refinance closings in January, reports Ellie Mae. The January Ellie Mae Origination Insight Report showed the percentage of refinance closings increased to 35% of total applications, up from 29...
02/22/2019
Mortgage rates continued to edge lower in the latest week to low levels seen a year ago. The Mortgage Bankers Association reports that the 30-year fixed-rate mortgage fell four basis points to 4.65% with an average 0.43 in points. Lower rates didn't push mortgage application activity higher as th...
02/13/2019
Higher household incomes in January pushed home purchase sentiment higher during the month, reports Fannie Mae. The Home Purchase Sentiment Index rose 1.2 points to 84.7 last month though it lower by 4.8 points compared with the same time last year.Fannie Mae's report revealed that there was an 8...
02/08/2019
The Bureau of Labor Statistics reported that 304,000 jobs were created in January as the labor market continues to remain on very solid ground. However, there was a large 70,000 downward revision for November and December. But even with that, the three-month job creation average is at a strong 24...
02/01/2019
The partial government shutdown ended last Friday so the delay of sales of newly built homes for November was reported today with a big number. November New Homes Sales jumped 17% from October to an annual rate of 657,000 units, well above the 555,000 expected. However, sales were down 7.7% from ...
01/31/2019
Fannie Mae released its January 2019 Economic and Housing Outlook showing that slower economic growth is expected in 2019, but a patient Fed could put housing on a firmer footing. The report went on to say that with the forecast of a slower pace of housing price gains this year, stable rates shou...
01/24/2019
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Steve Reed Branch Manager | Benchmark Home Loans
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