Home Builder Confidence | Real Estate Worth | Economy

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Mortgage and Lending with Benchmark Home Loans 173024

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 February. Any number over 50 indicates that more builders view conditions as good than poor. “Builders report the market is stabilizing following the slowdown at the end of 2018 and they anticipate a solid spring home buying season,” said NAHB Chairman Greg Ugalde, a home builder and developer from Torrington, CT.

Freddie Mac recently released data on the current state of U.S. household real estate worth. As of the end of the fourth quarter of 2018, U.S. households owned real estate worth over $25 trillion and have mortgage debt of just under $10 trillion for over $15 trillion in net homeowner equity. In the fourth quarter of 2018, an estimated $14,8 billion in net home equity was cashed out during the refinance of conventional prime-credit home mortgages, down from $20.4 billion a year earlier and way below the $104.8 billion during the second quarter of 2006.

The members of the Federal Reserve will convene on Tuesday to discuss the current state of the US economy and monetary policy with the statement being released at 2:00 p.m. ET on Wednesday. At 2:30, Fed Chair Powell will hold a press conference. There is a zero percent chance of a hike to the Fed Funds Rate but what the statement reads and what Powell says, could impact the markets.

Posted by

Steve Reed

Benchmark Home Loans

Branch Manager

NMLS #173024

Ark-La-Tex Financial Services, LLC NMLS #2143 

4138 Bristol Highway, Suite #4

Johnson City, TN 37601

Phone 423-232-0111

steve.reed@benchmark.us

www.stevereed.benchmark.us

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Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good afternoon 

Thank you for sharing your information with us Steve Reed 

Have a great day.

March 18, 2019. 

Mar 18, 2019 01:08 PM #1
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

You would've thought with interest rates declining builder sentiment would be higher. Let's see what happens next month if market conditions are the same or better.

Mar 18, 2019 01:44 PM #2
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Steve Reed

Steve Reed Branch Manager | Benchmark Home Loans
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