Steve Reed Benchmark Home Loans

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RECENT BLOG POSTS
Consumers splurged in July as evidenced by the strong Retail Sales number, which rose 0.5% from June, exceeding the 0.1% expected. This solid number signals that the U.S. economy is doing well. Sales were led by clothing and accessories stores and gasoline station sales. However, June Retail Sale...
08/15/2018
Small business owners continue to express optimism due in part to a strong U.S. economy. The NFIB Small Business Optimism Index rose to its second highest level in the survey's 45-year history to 107.9 in July, just a whisker away from its record-high of 108 set back in July 1983. Small businesse...
08/14/2018
Fannie Mae released its July Home Purchase Sentiment Index (HPSI) showing that home purchase sentiment hit its plateau as high home prices stymie trade-up confidence. The HPSI fell in July for the second consecutive month, declining 4.2 points to 86.5, after hitting survey highs in April and May....
08/08/2018
The American dream of owning a home was alive and well in the past 12 months as the economy and labor markets continued to grow. The Census Bureau reports that twice as many American homeowners were created in the last year as had been created in the previous 10 years. The number of US homeowners...
08/06/2018
And the survey says ... 157,000 jobs were created in July, below the 190,000 expected. The headline number was a miss, but a look under the hood shows many strong data points. The headline number of 157,000 missed expectations, but May and June were revised higher by 59,000. The Unemployment Rate...
08/03/2018
The labor market continues to produce positive numbers for employment as the U.S. economy grows stronger. ADP Private Payrolls rose 219,000 in July, above the 175,000 expected while June was revised higher to 181,000 from 177,000. July's 219,000 was the highest since February's 241,000. The job m...
08/01/2018
Home prices rose steadily across the nation in May though affordability issues may come into play in the months ahead. The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 6.5% from May 2017 to May 2018. This was in line with expectations and just below the 6.7% recorded in April (revised...
07/31/2018
This week, the U.S. capital markets will receive a full dose of economic data and risk-filled headlines that will impact investors. Coming up is the the two-day Fed meeting that kicks off on Tuesday and ends Wednesday at 2:00 p.m. ET with the release of the monetary policy statement. The Fed is e...
07/30/2018
Economic growth surged in the second quarter of 2018 due in part to a big rise in consumer spending. The Bureau of Economic Analysis reported that Gross Domestic Product rose 4.1% from the 2.2% recorded in the first quarter, which was revised up from 2%. The 4.1% was in line with expectations. Wi...
07/27/2018
Mortgage rates edged a bit higher this week and are at their highest level since late June, though from an historic perspective, they remain at the low end of the spectrum. Freddie Mac reports that the 30-year fixed-rate mortgage rose two basis points to 4.54% with an average 0.5 in points and fe...
07/26/2018
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