Tag Archive for ‘recession’

Consumer Credit Decreases in August

The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through August 2020. In August, consumer credit decreased at a seasonally adjusted annual rate of 2 percent from the previous month, with revolving debt1 decreasing at a staggering rate of 11-1/4 percent and nonrevolving debt2 increasing by 3/4 percent. Consumer credit… Read More ›

Home Purchasing Reaches Highest Level in Over a Decade

For the week ending September 18, 2020, the Mortgage Bankers Association’s latest Weekly Application Survey showed a jump in application activity, both in purchasing and refinancing, as its Market Composite Index increased 6.8% from the previous week on a seasonally adjusted basis. Most notably, the Purchasing Activity reached its highest level since January 2009, when it was only 5.3% higher…. Read More ›

Q2 2020 National Delinquency Survey

Amid widespread job losses and other economic hardship resulting from the COVID-19 pandemic, all the U.S. states, Puerto Rico, and the District of Columbia experienced quarterly percentage increases in home loans past due, according to the seasonally adjusted Q2 2020 results of the Mortgage Bankers Association’s (MBA) Q2 2020 National Delinquency Survey. In the second quarter of this year, on… Read More ›

Home Refinancing Surges

The Mortgage Bankers Association’s (MBA) latest Weekly Application shows an uptick in applications for the week ending July 10, 2020. The Market Composite Index increased by 5.1% from the previous week on a seasonally adjusted basis, owing mainly to the surge in refinancing activity of 11.9% compared to a week before. The increase was partially offset by the slowdown of… Read More ›

Total Consumer Credit in May Decreases

The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through May 2020. In May, consumer credit decreased at a seasonally adjusted annual rate of 5.3% from the previous month, with revolving debt1 decreasing by 28.6% and nonrevolving debt2 increasing by 2.3 percent. Consumer credit totaled $4.1 trillion on a seasonally… Read More ›

Concentration of Large Builders in Metropolitan Markets

NAHB analysis of information published in Builder Magazine shows that large builders gained market share on average each year from 2009 to 2014 in major metropolitan housing markets, before concentrations trended back somewhat in 2015. Figure 1 shows the annual average of the four statistics calculated for this analysis, and charts how these averages changed during the years following the… Read More ›

Consumer Confidence and Economic Cycles

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the near future’s economy.   Figure 1 shows both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index are highly inversely correlated with the unemployment rate. High unemployment drives down… Read More ›