Tag Archive for ‘federal reserve bank of new york’

HELOCs Continue to Shrink, But at Larger Banks

According the Federal Reserve Bank of New York the outstanding amount of home equity lines of credit (HELOCs) was the only debt category to record a decrease in the third quarter of 2015. Home equity lines of credit are an important source of financing for home remodeling projects. Over the quarter, the outstanding amount of HELOCs fell by 1.4%, $7… Read More ›

Mortgage Debt Outstanding Expands

Aggregate household debt outstanding totaled $12.065 trillion in the third quarter of 2015, 3.5%, $355 billion, greater than its level of one year ago. According to the report released by the Federal Reserve Bank of New York, housing-related debt, mortgages and home equity lines of credit rose by a combined amount of 1.3%, $109 billion. Mortgage debt outstanding rose by… Read More ›

Serious Delinquency Rates Continue Their Descent

According to a report by the Mortgage Bankers’ Association the delinquency rate for mortgage loans on 1-4 unit residential properties decreased to a seasonally adjusted rate of 5.30% of all loans outstanding at the end of the second quarter of 2015, 24 basis points less than its level in the first quarter of 2015 and 74 basis points below its level one… Read More ›