Tag Archive for ‘household balance sheets’

Is it Easy to Obtain a Mortgage?

For many households, obtaining a mortgage is the most important step when seeking to purchase a home. As housing analysts, a natural question to ask when assessing the prospects for home buying is “how easy is it for households to obtain a mortgage?” The Federal National Mortgage Association (FNMA) or Fannie Mae attempts to shed light on this question with… Read More ›

Households Show Willingness to Take on Most Forms of Debt

Data released by the Federal Reserve Board indicates that consumer credit outstanding increased over the month of October 2014. The data released by the Federal Reserve Board covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate. According to the release, total consumer credit outstanding expanded by a seasonally adjusted annual rate of 5%. Both… Read More ›

Mortgage Delinquency Rates Fall

Recently released data from the Mortgage Bankers Association (MBA) shows that the share of mortgages that are considered delinquent fell. On a seasonally adjusted basis, the share of mortgages past due declined over the third quarter of 2014 by 19 basis points to 5.85%. Over the past year, the proportion of mortgages past due decreased by 66 basis points from… Read More ›

Equity Position of U.S. Households Improves

The Federal Reserve Board of Governors’ recently released statistics on the financial accounts of U.S. households. The release shows continued improvement in the financial position of U.S. households with real estate. In fact, the household real estate equity position improved to a level last reached in the second quarter of 2007. According to NAHB tabulations of the quarterly series, the… Read More ›

Consumer Debt Expands on Mortgages, Student and Auto Loans

The Federal Reserve Bank of New York recently reported that aggregate consumer debt, which includes mortgages, rose by 1.1% or $129 billion over the first quarter of 2014. There is now an estimated $11.7 trillion in aggregate consumer debt outstanding. Total consumer indebtedness has now risen for 3 consecutive quarters; however, it still remains 8.1% below its peak of $12.7… Read More ›

Consumer Credit Expands, But At a Slower Rate

The Federal Reserve Board recently reported that growth in consumer credit outstanding decelerated in January 2014. Total consumer credit outstanding rose by 5.3% on a month-over-month seasonally adjusted basis, but the January growth rate was 0.9 percentage points less than the 6.2% growth rate that took place in December. There is now $3.1 trillion in total consumer credit outstanding. The… Read More ›

House Prices End the Year Higher

Data from Standard and Poor’s indicates that house prices rose in December 2013. According to the release, the seasonally adjusted S&P/Case-Shiller HPI – 20 City Composite rose by 0.8% in December 2013. This is the 23rd consecutive month-over-month increase for the Index. Over this time period, the Index has risen by 21.7%. For the entire year of 2013, the 20… Read More ›

Income Growth Lagging Balance Sheet Improvements

During the second quarter of 2013, household balance sheets improved with increases in home values and reductions in mortgage debt, boosting household net worth. Since the 4th quarter of 2011, the aggregate value of owner-occupied real estate is up nearly $2.8 trillion. However, while balance sheets in aggregate have mended since the end of the Great Recession, income growth continues to lag…. Read More ›

Consumer Credit Expands On Auto, Student Loans

Data released by the Federal Reserve Board indicates that consumer credit continued to expand in July, albeit at a slower pace than in the recent past. According to the Federal Reserve’s G.19 survey, consumer credit outstanding grew at a seasonally adjusted annual rate of 4.4% and now stands at $2.9 trillion. However, the growth in consumer credit outstanding recorded in… Read More ›