Steve Reed Benchmark Home Loans

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RECENT BLOG POSTS
Mortgage delinquencies edged high in September, reports Black Knight, a leading provider of integrated software, data and analytics solutions. Mortgage delinquencies jumped 13% in September, the largest single-month increase since November 2008. Hurricane Florence had an impact during the month w...
10/25/2018
The Mortgage Bankers Association (MBA) reported last week that it is forecasting $1.24 trillion in purchase mortgage originations in 2019, a 4.2% gain from 2018. In the refinance arena, the MBA predicts a 12.4% decline in 2019 to $395 billion. For 2019, the MBA sees total originations to decrease...
10/22/2018
The service sector of the U.S. economy surged in September as the underlying index hit an all-time high due to respondents' positive outlook on business and the current and future U.S. economy. The ISM Service Index hit 61.6 last month, the highest since the index was created in 2008, as it grew ...
10/03/2018
The U.S., Canada and Mexico struck a new trade deal called the U.S.-Mexico-Canada-Agreement (USMCA), which replaces NAFTA, last night. As a result, U.S. Stocks are surging and hovering near all-time record highs. The $1.2 trillion open trade zone agreement was on the brink of collapse recently, u...
10/01/2018
Inflation remained contained in August and comes after Fed Chair Powell said this week that he doesn't see any upside surprises to inflation. The Bureau of Economic Analysis reported this morning that Core Personal Consumption Expenditures, the Fed's favorite inflation gauge, was unchanged year-o...
09/28/2018
Home price gains eased a bit in July and have begun to slow after the big gains seen in the past few years. The S&P/Case-Shiller 20-City Home Price Index rose 5.9% from July 2017 to July 2018, down from the 6.4% year-over-year gain seen in June. On a monthly basis, prices were up just 0.1% from J...
09/25/2018
The last week of the month and end of the third quarter is underway with several hurdles for the U.S. markets to jump this week. The two-day FOMC meeting begins tomorrow with the monetary policy statement being delivered at 2:00 p.m. ET on Wednesday. The Treasury will sell a total of $106B in sec...
09/24/2018
Despite the strong job market here in the U.S., banking and lending giant Wells Fargo plans on cutting up to 26,500 jobs, or 10% of its workforce, over the next three years. The bank said that the move into digital banking and the firm's efficiency programs would result in the layoffs along with ...
09/21/2018
The National Association of REALTORS® reports that after four straight months of declines, Existing Home Sales were unchanged in August from July at an annual rate of 5.34 million units. That was below the 5.37 million expected. Flat sales were due to a balance of gains in the Northeast and Midwe...
09/20/2018
Housing data dominates the headlines this week with news on August Housing Starts and Building Permits releasing on Wednesday and Existing Home Sales on Thursday. Housing Starts rebounded slightly in July after hitting a nine-month low in June, while sales of existing homes saw a fourth straight ...
09/17/2018
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