Steve Reed Benchmark Home Loans

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RECENT BLOG POSTS
The G-20 Summit Meeting took place over the weekend with the big event taking place Saturday night between President Trump and China's President Xi. The two leaders discussed trade issues and agreed to suspend any tariffs for 90 days and will enter into negotiations to try and settle the trade di...
12/03/2018
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The National Association of REALTORS® reports that Pending Home Sales unexpectedly declined in October by 2.6% from September, well below the gain of 0.5% expected. On an annual basis, sales fell 6.7%, the seventh straight month of annual decreases. Sales declined in the South, Midwest and the We...
11/29/2018
The September Case-Shiller 20-City Index rose 5.1% from September 2017, just below the 5.3% expected and down from 5.5% in August. Month-over-month was unchanged. The slower pace of gains is to be expected and with faster-rising wages, it represents a healthier market. “Home prices plus data on h...
11/27/2018
Ellie Mae released its Origination Insight Report revealing that closing rates in October rose to their highest percentage in 2018. Closing rates for all loans rose to 72.2% in October, the highest this year, up from 71.7% in September. Closing rates on refinanced loans remained at 76.4%. In addi...
11/26/2018
As the holiday shopping season unfolds, retailers were giddy in October due in part to strong sales for motor vehicles and building materials. Retail Sales jumped 0.8% versus the 0.5% expected and were up from 0.1% in September. It was the largest increase since May's gain of 1.2%. The Core rate ...
11/15/2018
The October Consumer Price Index rose 0.3%, in line with estimates, though it was the largest increase since the 0.5% registered in January. The Core CPI was also in line at 0.2%. On a year-over-year basis, CPI rose to 2.5% from 2.3% in September and down from the 2018 high of 2.9% hit in June. T...
11/14/2018
Fannie Mae released its Home Purchase Sentiment Index (HPSI) for October this week showing a decline in sentiment despite a favorable U.S. economy. The HPSI fell 2 points in October to 85.7, continuing its recent downward trend. The report revealed that the net share of Americans who said it is a...
11/09/2018
CoreLogic reports that home prices nationwide, including distressed sales, rose 5.6% year over year in September 2018 compared to September 2017. The 5.6% is down from June's 7.1% year-over-year increase as home price gains moderate to more historical levels. Month--over month saw a 0.4% rise. Fr...
11/06/2018
The service sector of the U.S. economy, which makes up a large portion of the economy, continued to strengthen in October. The ISM Service Index edged lower to 60.3, below the 21-year high of 61.6 hit in September. The report showed that every major sector of the service industry expanded in Octo...
11/05/2018
The Fed's favorite inflation gauge, the annual Core PCE, was unchanged in September at 2% while month over month saw a rise of 0.2%, just above the 0.1% expected. Inflation pressures have remained contained and the Federal Reserve will have to look closely at future inflation data ahead of the De...
10/29/2018
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