Steve Reed Benchmark Home Loans

Small business owners across the U.S. were more positive about conditions as the new year kicked off as owners raise wages and invest in their business. The NFIB Small Business Optimism Index rose 1.6 points in January to 104.3, a reading among the top 10% of all readings in the 46-year history o...

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Home prices continue to increase at a moderate pace across the U.S. with a stable housing market in November. The S&P Case-Shiller 20-City Home Price Index rose 2.6% annually up from the 2.2% gain seen in October. The national index increased 3.5% annually from 3.2% in October. The housing market...

The Census Bureau reports that December Housing Starts surged 17% from November to an annual rate of 1.608M units,the highest since December 2006, versus 1.380M expected as the sector continues to build momentum. It was the biggest percentage gain since October 2016. From December 2018 to Decembe...

Mortgage rates edged lower early this week due in part to the Middle east tensions. Freddie Mac reports that the 30-year fixed-rate mortgage fell by eight basis points to 3.64% with 0.7 in points and fees. However, rates have inched higher in the past few days. Freddie Mac says that the drop in m...

The Mortgage Bankers Association reports that the average loan balance for first mortgages reached a study high of $276,053 in the third quarter, up from $268,520 in the second quarter. U.S. stocks are being boosted higher today after Reuters reported that the US and China are "very close" to a "...

The service sector of the US economy continues to be a bright spot in the US economy. The Institute for Supply Management (ISM) reports that economic activity in the non-manufacturing sector grew for the 117th consecutive month, said the nation's purchasing and supply executives. The ISM Service ...

Positive news in the past few weeks pushed bond prices lower and in turn, home loan rates increased in the latest survey from the Mortgage bankers Association (MBA). The MBA reports that the 30-year fixed-rate mortgage rose ten basis points to 4.02% with 0.38 in points for the week ending October...

It's jobs week with ADP Private Payrolls on Wednesday and the government's Jobs Report on Friday. In addition, the ISM National Manufacturing Index will be released and may give some clues on the current slowdown in the sector. If a trade agreement is reached between the US and China, some of the...

Mortgage rates inched lower in the latest week and remain near lows seen in September 2017. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage fell three basis points to 4.04% with an average 0.37 in points. The jumbo rate rose three basis points to 4.03% with 0.2...