Tag Archive for ‘finance’

National Data Suggest Household Deleveraging Of Credit Card Debt

The Federal Reserve Board recently reported that consumer credit outstanding rose in October on a monthly seasonally adjusted basis. An analysis of the release by NAHB illustrated that the expansion in consumer credit outstanding in 2011 and 2012 reflected growth in auto and student loans while credit card debt fell. This decline in credit card debt outstanding had begun prior… Read More ›

Newly Proposed Rules Could Raise Rates on Consumer Mortgages and Price Out Households

On balance, the residential housing market has been improving in recent months, but the pace of recovery is partly restrained by frictions in the mortgage market. Against this backdrop, U.S. regulators have proposed comprehensive new regulatory capital requirements for U.S. banking organizations.  These newly proposed rules will serve to implement Basel III, the most recent revision to international bank regulatory… Read More ›

Despite the Recent Increase, Credit Card Debt Outstanding Remains On A Downward Path

According to the Federal Reserve Board, consumer credit outstanding increased at a seasonally adjusted annual rate of 6.2% in October, an acceleration of 0.8 percentage points over September’s growth rate. Unlike September, the October increase in consumer credit outstanding, which excludes loans secured by real estate, reflects growth in both revolving and non-revolving credit. In October, revolving credit expanded by… Read More ›

Fed Chairman Bernanke on Mortgage Lending

In prepared comments, the Chairman of the Federal Reserve System, Ben Bernanke, addressed the challenges in housing and mortgage markets. Chairman Bernanke’s comments contained a clear message: tight lending standards that emerged after the housing boom are now holding back the housing market recovery and the economy as a whole. “It seems likely at this point that the pendulum has… Read More ›

Consumer Credit Outstanding Climbs as Student Loans Continue To Rise

The Federal Reserve Board reported that consumer credit outstanding rose at a seasonally adjusted annual rate of 5.0% in September to $2.7 trillion. The over-the-month increase in consumer credit outstanding, which excludes real estate secured loans such as mortgages and home equity lines of credit, reflected a 9.2% rise in non-revolving credit outstanding, 0.1 percentage point higher than the growth… Read More ›

Lending Standards on Prime Residential Mortgages Ease Only Slightly but Demand Remains Strong

Results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey indicate that, on net, a small fraction of banks eased their lending standards for business and consumer loans over the previous three months. They also reported that respondents noticed little change in residential real estate lending standards on balance. Meanwhile, a significant share of banks reported a strengthening of… Read More ›

Mortgage Applications For Purchase Remain Flat Even As Home Sales Climb

According to recently released data by the Mortgage Bankers Association, total mortgage applications fell by 4.8% in the week ending on October 26, 2012. This is the fourth consecutive week that the index has fallen. The most recent decline in total mortgage applications reflects a decrease in applications for refinancing. The 6.0% decline in the index of refinancing applications was… Read More ›

MBA Data Suggest Mortgage Demand for Home Purchase Is In Early Stages of Recovery

According to the Mortgage Bankers Association (MBA), the seasonally adjusted total mortgage applications index, a measure of mortgage demand, declined by 4.2% in the week ending on October 12, 2012. The reported decline in the weekly total mortgage applications index reflected a 5.3% decrease in MBA’s total refinance application index. Applications for refinancing represent 81.7% of total applications. While the… Read More ›