Tuesday , 27 October 2020

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Mortgage Originations Grow in Q4

By Michael Neal According to the Federal Reserve Bank of New York’s Household Debt and Credit Report, mortgage originations grew in the 4th quarter of 2016. Largely resulting from 4th quarter growth, origination volume in 2016 exceeded its level in 2015. This marks the second consecutive year of growth in originations. As the chart above illustrates, there was approximately $617 …

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Quicken Loans Study Shows Home Appraisal Value Lags Owner Estimates by a Wider Spread for Second Consecutive Month

By QLAdmin • Quicken Loans’ National HPPI shows appraised values were 1.47% lower than homeowners estimated in January • Home values rise 3.93% year-over-year nationally, despite slight drop from previous month, according to the Quicken Loans HVI DETROIT, February 14, 2017 – For the second consecutive month, the gap between homeowner estimates and appraiser opinions has widened. Quicken Loans’ National …

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Non-mortgage Consumer Credit Grows at a Slower Pace

By Michael Neal The total amount of consumer credit outstanding rose in 2016 as both revolving credit and non-revolving credit rose. The growth in consumer credit is being fueled by non-revolving loans, particularly student loans at the federal government and auto loans held by credit unions. According to the Federal Reserve Board’s Consumer Credit release, the total outstanding amount of …

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Standards on CRE Loans Tighten as Demand Weakens

By Michael Neal The most recent iteration of the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOS), which covers the fourth quarter of 2016, reports tightening of standards on multifamily residential and construction/land development loans. At the same time, demand, on net, also weakened. Previous analysis documented the tightening of credit standards, a measure of loan supply, on commercial …

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Nation Moves Closer to Recovery

By Michael Neal For the country as a whole, the NAHB/First American Leadings Markets Index (LMI), released today, rose to .99 in the fourth quarter of 2016, .01 point higher than its level in the third quarter of 2016, .98, and .05 point higher than its level from one year ago, .94. The LMI is now .21 point above its …

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Mortgage Rates Rising

By Michael Neal Information released by the Federal Housing Finance Agency, (FHFA) indicates that mortgage rates on purchases of newly built homes continued to increase in December 2016. After rising by 5 bps in November, contract mortgage rates increased by an additional 19 basis points in December. As of the end of 2016, the contract rate sits at 3.78 percent. …

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Mortgage Rates Register Historically Large Increase

By Michael Neal Information released by the Federal Housing Finance Agency, (FHFA) indicates that mortgage rates on purchases of newly built homes continued to increase in December 2016. After rising by 5 bps in November, contract mortgage rates increased by an additional 19 basis points in December. As of the end of 2016, the contract rate sits at 3.78 percent. …

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Consumer Credit Grows but Some Risks Lurk

By Michael Neal According to the Federal Reserve Board, consumer credit grew by a seasonally adjusted annual rate of 7.9 percent over the month of November to $3.75 trillion. Revolving credit, which is largely composed of credit cards, grew by 13.5 percent while non-revolving credit, typically student loans and auto loans, rose by 5.9 percent. Although revolving credit grew faster …

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