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Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin
Home-Related Delinquencies Mostly Up in Q4 2016
Delinquencies on closed-end loans related to housing rose during the fourth quarter of 2016, according to the latest American Bankers Association’s (ABA) Consumer Credit Delinquency Bulletin.   Home equity loan delinquencies during the... Read more
Millennials are not known to sit around and wait for things to happen
Closing Times for Millennials’ Mortgages Becomes Faster
Millennials are not known to sit around and wait for things to happen, and that need for speed appears to extend to their home loan originations.   The closing time for the mortgages of Millennial borrowers decreased to 44 days, the... Read more
An appearance by Consumer Financial Protection Bureau (CFPB) Richard Cordray today before the House Financial Services Committee
Anger and Adoration Directed at Cordray in Congress
An appearance by Consumer Financial Protection Bureau (CFPB) Richard Cordray today before the House Financial Services Committee brought out some of the roughest insults and the sweetest praise ever bestowed on a federal regulator.   First... Read more
Today’s home sellers are facing an interesting dilemma: Where can they buy a new residence
Home Sellers Face Challenge in Buying New Residences
Today’s home sellers are facing an interesting dilemma: Where can they buy a new residence?   In a survey of 800 real estate agents working with the Redfin brokerage, 65.6 percent of respondents said that low inventory was the greatest... Read more
March went out with a whimper instead of bang, at least in terms of home loan application activity
Dull Activity in Latest Mortgage Applications Data
March went out with a whimper instead of bang, at least in terms of home loan application activity.   According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending March 31, the Market Composite... Read more
Construction spending in February totaled $1.192 trillion at a seasonally adjusted annual rate
Residential Projects Fuel Construction Spending Increases
Construction spending in February totaled $1.192 trillion at a seasonally adjusted annual rate, according to data released by Associated General Contractors of America. February’s spending level was up 0.8 percent from the month before and... Read more
Richmond Federal Reserve President Jeffrey Lacker abruptly announced his resignation today while acknowledging that he was the source of the leak of the central bank’s plans regarding economic policy
Richmond Fed Chief Resigns After Self-Identifying as Data Leaker
Richmond Federal Reserve President Jeffrey Lacker abruptly announced his resignation today while acknowledging that he was the source of the leak of the central bank’s plans regarding economic policy.   CNBC reported that Lacker, who... Read more
NY Fed Chief: Student Debt Continues to Prevent Homeownership
Student debt continues to restrict the ability of Millennials to pursue homeownership, according to William C. Dudley, president and CEO of the Federal Reserve Bank of New York.   Speaking yesterday at a press briefing, Dudley noted that... Read more
One More Bedroom Can Jack Up Your Mortgage Payments
A warning to growing and potentially-growing families: Upgrading from a two-bedroom home to a three-bedroom residence can, depending on your location, increase your monthly mortgage payment by as much as 50 percent.   According to new data... Read more
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached the 5.31 percent level in February
CMBS Delinquency Rate at 16-Month High
The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) reached the 5.31 percent level in February, an increase of 13 basis points (bps) from the previous month, according to data from... Read more