Tag Archive for ‘finance’

Euro Area Mortgage Debt Outstanding Continues to Expand

In the US, the multi-year decline and the more recent moderate recovery in mortgage debt outstanding has been well documented. However, mortgage debt outstanding in the Euro Area has had a different experience. According to the European Mortgage Federation, and documented in Figure 1 below, mortgage debt outstanding has been rising in recent years. After recording year-over-year increases between 2002,… Read More ›

Consumer Credit Growth Slows

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 5.7%, $193.0 billion, in May 2015, slower than the 7.6% rate of growth recorded in April 2015. Consumer credit outstanding now totals $3.401 trillion. The expansion of total consumer credit outstanding partly reflected an increase in the outstanding amount of non-revolving consumer credit. Non-revolving… Read More ›

SF Default Rates: One of These Things Is Not Like the Others, One of These Things Just Doesn’t Belong

The Financial Accounts of the United States shows continued improvement in the aggregate home equity position of U.S. households. Household holdings of real estate, measured on a not seasonally adjusted basis, totaled $21.104 trillion in the first quarter of 2015, $1.092 trillion higher than its level, $20.012 trillion, in the first quarter of 2014. At the same time, home mortgage debt… Read More ›

Bank-Holdings of Consumer Credit: All of the Eggs are in One Basket

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 7.3%, $246.5 billion, in April 2015. Consumer credit outstanding now totals $3.385 trillion. For the first time in 13 months and the second time in 87 months, the monthly growth rate of revolving credit outstanding outpaced the increase in non-revolving credit. Revolving credit outstanding… Read More ›

Consumer Credit Outstanding: Are Banks Losing Relevance?

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 7.4%, $246.3 billion, in March 2015. Over the first quarter of 2015, consumer credit outstanding increased by 5.4%. Consumer credit outstanding now totals $3.363 trillion. The expansion of total consumer credit outstanding largely reflected an increase in the outstanding amount of non-revolving consumer credit…. Read More ›

According to the Survey (SLOOS), Size Really Does Matter

In the April 2015 iteration of the Senior Loan Officer Opinion Survey (SLOOS), the Federal Reserve Board included a special question on residential real estate lending. That special question asked banks about how they had responded to new guidelines issued by the GSEs on November 20, 2014, on the definition of life-of-loan representation and warranty exclusions. These policies were designed,… Read More ›

Non-Revolving Credit Drives Consumer Credit Growth

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 5.6%, $186.2 billion, in February 2015. Consumer credit outstanding now totals $3.343 trillion. The expansion of total consumer credit outstanding reflected an increase in the outstanding amount of non-revolving consumer credit. Non-revolving consumer credit includes auto loans and student loans. According to the report,… Read More ›

Consumer Credit Expands on Auto, Student Loans

The Federal Reserve Board recently reported that consumer credit outstanding rose by a seasonally adjusted annual rate of 4.2%, $138.7 billion, in January 2015. Consumer credit outstanding now totals $3.3 trillion. The expansion of total consumer credit outstanding reflected an increase in the outstanding amount of non-revolving consumer credit. Non-revolving consumer credit includes auto loans and student loans. According to… Read More ›

Share of Delinquent Mortgages Continues to Fall

According to the most recent release of the Mortgage Bankers Association’s National Delinquency Survey, the share of mortgages that are considered delinquent continued to fall. On a seasonally adjusted basis, the share of mortgages past due declined to 5.68% in the fourth quarter of 2014, 17 basis points from the third quarter of 2014 and 71 basis less than its… Read More ›