Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans. On net, 30.3% of survey respondents indicated that overall lending standards on AD&C loan availability had eased in the third quarter of 2015. In the second quarter, a net share of 30.7% of survey respondents said that lending standards had eased. Since the index… Read More ›
Tag Archive for ‘housing finance’
NAHB Survey Finds AD&C Lending Standards Easing
Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans. On net, 30.3% of survey respondents indicated that overall lending standards on AD&C loan availability had eased in the third quarter of 2015. In the second quarter, a net share of 30.7% of survey respondents said that lending standards had eased. Since the index… Read More ›
Falling Delinquency Rate Points to Continued Healing
The delinquency rate for first-lien mortgage loans on 1-4 unit residential properties decreased to a seasonally adjusted rate of 4.99% of all loans outstanding at the end of the third quarter of 2015, 31 basis points less than its level in the second quarter of 2015 and 86 basis points below its level one year ago. According to a report… Read More ›
Lending Standards on Construction and Land Development Loans Tighten
Credit standards on loan applications for construction and land development loans or credit lines tightened, on net, over the third quarter of 2015. According to the most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey, a net share of 4.4% said that lending standards at their respective commercial bank tightened. The net share represents the difference… Read More ›
Residential Mortgages: Who Borrows What?
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 $21.540 trillion in the second quarter of 2015, $1.366 trillion higher than its level, $20.174 trillion, in the second quarter of 2014. At the same time, home mortgage debt outstanding,… 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 ›
The Majority of Mortgages Go to Households with the Strongest Credit
Aggregate household debt balances were unchanged at $11.85 trillion in the second quarter of 2015 according to the Federal Reserve Bank of New York. Housing-related debt, mortgages and home equity lines of credit fell by a combined $66 billion, $55 billion and $11 billion respectively, while non-housing debt, auto loans, credit cards, student loans and other loans, rose by $68… Read More ›
Lending Standards Tighten on Land Development and Construction Lending
Credit standards on applications for land development and construction loans or credit lines tightened on net, albeit slightly, over the second quarter of 2015. According to the most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey, a net share of 1.4% of senior bank respondents reported that lending standards at their respective bank tightened over the… Read More ›
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 ›
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 ›