Tag Archive for ‘finance’

Standards on CRE Loans Tighten as Demand Weakens

The most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOS), which covers the fourth quarter of 2016, reports tightening of standards on multifamily residential and construction/land development loans. At the same time, demand, on net, also weakened. Previous analysis documented the tightening of credit standards, a measure of loan supply, on commercial real estate (CRE)… Read More ›

Consumer Credit Grows but Some Risks Lurk

According to the Federal Reserve Board, consumer credit grew by a seasonally adjusted annual rate of 7.9 percent over the month of November to $3.75 trillion. Revolving credit, which is largely composed of credit cards, grew by 13.5 percent while non-revolving credit, typically student loans and auto loans, rose by 5.9 percent. Although revolving credit grew faster than non-revolving credit… Read More ›

Mortgage Rates Climb

The Mortgage Interest Rate Survey (MIRS) conducted monthly by the Federal Housing Finance Agency (FHFA) reported that contract mortgage rates rose in November 2016. Over the month, rates on all loans increased from 3.60 percent to 3.64 percent. Contract rates on both purchases of newly built homes and purchases of existing homes climbed during the month. Rates on purchases of… Read More ›

Growth in Homeowners’ Equity Continues

According to the Federal Reserve Board’s third quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.725 trillion in the third quarter of 2016, $1.520 trillion higher than its level in the third quarter of 2015, $21.204 trillion. At the same time, home mortgage… Read More ›

Non-Mortgage Credit Growth Continues

The Federal Reserve Board reported that consumer credit outstanding continues to grow. However, at a seasonally adjusted annual rate of 5.2 percent over the month of October 2016, growth in consumer credit was 1.9 percentage points slower than its rate, 7.1 percent, in September. There is now $3.73 trillion in outstanding consumer credit. Revolving credit has also contributed to the over consumer credit… Read More ›

Rates Steady in October as Increases Expected

Nationally, the contract interest rate on conventional mortgages for home purchase held steady in October 2016. Over the month, the rate on conventional mortgages for home purchase was unchanged at 3.60%, according to data released by the Federal Housing Finance Agency (FHFA). Rates on the purchase of previously occupied homes ticked up 1 basis point to 3.62% while rates on new homes… Read More ›

Serious Delinquency Rates Improve Across Most Household Debts

A recent release by the Federal Reserve Bank of New York indicates that, in aggregate, 90 or more day delinquency rates are falling on most household debt products. However, serious delinquency on student loans remains elevated while a greater portion of auto debt held by households with low credit scores is entering serious delinquency. The results indicate that household balance… Read More ›

NAHB Survey: AD&C Financing Standards Continue to Ease

Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat in the third quarter of 2016 from the rate in the second quarter. In the third quarter of 2016, the overall net tightening index based on the AD&C survey was… Read More ›