Tag Archive for ‘consumer lending’

Lending Standards Tighten Further as Banks Expect More to Come

According to the Federal Reserve Board’s July 2023 Senior Loan Officer Opinion Survey (SLOOS)—conducted for bank lending activity over the second quarter of 2023—banks reported that lending standards tightened for all residential real estate (RRE) and commercial real estate (CRE) loan categories. Demand for RRE and CRE loans weakened across all categories over the quarter. Moreover, banks expect their lending… Read More ›

Consumer Credit Growth Slows to 30-Month Low

Consumer credit outstanding growth slowed to a 30-month low of 1.8% in May 2023 (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report, as revolving and nonrevolving debt grew at 8.2% and -0.4%, respectively. Credit growth for March and April—each of which were initially reported at 5.7%–were revised down to 4.8% and 5.0%, respectively. Total consumer credit outstanding… Read More ›

Revolving Consumer Credit Growth Remains Near 25-Year High

Consumer credit outstanding grew at a seasonal adjusted annual rate of 5.7% in April 2023 per the Federal Reserve’s latest G.19 Consumer Credit report, as revolving and nonrevolving debt grew at 13.1% and 3.2%, respectively (SAAR). Total consumer credit outstanding stands at $4.8 trillion (not seasonally adjusted), with $1.2 trillion in revolving debt and $3.6 trillion in non-revolving debt (NSA). The… Read More ›

Nonrevolving Debt Increases as Auto Loan Rates Surge

According to the Federal Reserve’s latest G.19 Consumer Credit report, total consumer credit outstanding totaled $4.78 trillion in February, a decrease of $12 billion over the month but $300 billion higher than February 2022. Nonevolving credit outstanding increased $1.0 billion while the level of revolving debt—primarily credit card debt—fell $13.0 billion over the month. Revolving debt outstanding has declined two consecutive… Read More ›

New Home Sales: Financing Source Shares Hold Steady

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that the share of mortgages financed through conventional, FHA, and VA loans, as well as cash, held steady in the second quarter of 2016 while the number of new homes sold grew by 22%. According to data from the Census Bureau’s Quarterly Sales by Price… Read More ›

Homeowners Contribute to Growth of Peer Lending

Peer-funded lending for personal and business loans has registered robust growth in recent years. Moreover, between 2007 and the third quarter of 2015, the composition of borrowers shifted from largely renters to a majority of homeowners. Not only do homeowners represent the majority of borrowing, but the median borrowed amount funded exceeds the median borrowed amount obtained by renters. At… Read More ›