Eye On Housing
Consumer credit outstanding expanded by a seasonally adjusted annual rate of 5.8% over the month of July 2016, 1.0 percentage point faster than its growth rate in June. According to the report, released by the Federal Reserve Board, there is now $3.66 trillion in outstanding consumer credit. Growth in revolving credit, which is largely composed of credit card debt, contributed to… Read More ›
According to NAHB’s Survey on Acquisition, Development & Construction Financing, residential real estate builders and developers reported that credit conditions for acquisition, development, and single-family construction (AD&C) loans were easier in the second quarter of 2016 than in the first quarter of 2016. Hence the NAHB net tightening index dropped from its level in the first quarter. Following 5 consecutive… Read More ›
In its quarterly National Delinquency Survey, the Mortgage Bankers Association reported that 3.11% of 1-4 family mortgages were seriously delinquent in the second quarter of 2016. Measured on a not seasonally adjusted basis, the rate of serious delinquency, which includes both mortgages that are 90 or more days past due and mortgages in foreclosure, was 0.84 percentage point less than the 3.95%… Read More ›
According to the Household Debt and Credit Report released by the Federal Reserve Bank of New York (FRB NY), the outstanding amount of housing-related debt, both home mortgages and home equity lines of credit (HELOCs), totaled $8.8 trillion in the second quarter of 2016, 2.6% ($225 billion) greater than the level from one year ago. However, the outstanding amount of home equity… Read More ›
The Federal Reserve Board reported that consumer credit outstanding grew by a seasonally adjusted annual rate of 4.1% over the month of June 2016, 1.9 percentage points slower than its growth rate in May. Over the second quarter of 2016, consumer credit outstanding expanded by 5.3%, 0.5 percentage points less than the 5.8% rate of growth in the first quarter of 2016…. Read More ›
Results from the most recent Senior Loan Officer Opinion Survey (SLOOS) indicate that lending standards on multifamily residential mortgages continue to show signs of tightening and the pace of tightening is growing. The Federal Reserve Board’s SLOOS asks senior loan officers at large banks their opinion on changes in the standards and terms on, and demand for, bank loans to… Read More ›
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 ›
Consumer credit outstanding grew by a seasonally adjusted annual rate of 6.2%, $222.7 billion, in the month of May 2016, 1.7 percentage points faster than the 4.5% rate of growth recorded in April. Consumer credit outstanding now totals $3.624 trillion. According to the Federal Reserve Board’s Consumer Credit report, the increase in total consumer credit outstanding partly reflected an expansion in the… Read More ›
According to information compiled by the European Mortgage Federation, the total amount of mortgage debt outstanding across the 19 countries in the Euro Area, those that have adopted the common euro currency, reached €4.46 trillion in 2014, an increase of €30 billion, 0.7%, from its level in 2013, €4.43 trillion. Despite a financial crisis that was global in impact, total… Read More ›
In recent years, housing analysts have reported on the expansion in mortgage lending activity by nonbank financial institutions. Given recent activity, regulatory officials have expressed their interest in the lending activities at nonbank financial institutions. Nonbank consumer lenders can include pools such as hedge funds and they also include specialty finance companies such as auto finance companies. Another nonbank lending… Read More ›