CFPB: This Holiday Season, Help Your Kids Build Solid Money Habits
The holiday season provides plenty of opportunities to talk with kids about money, like when you go shopping or when your children receive gifts. No matter what age, kids learn from watching their parents and absorb what they see and hear around them. Your words and actions are opportunities to share money lessons. These opportunities…
Federal Reserve: FEDS | Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks
Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks (PDF) David P. Glancy Abstract: I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. Banks exposed to distressed housing markets cut mortgage and small business lending relative to other…
FEMA: As Historic 2017 Hurricane Season Comes to an End, Federal Support to Recovery Continues
While Nov. 30 marks the end of a historic hurricane season, FEMA and its partners continue to work diligently in support of disaster survivors recovering from the devastating season. Four hurricanes made landfall: Harvey, Irma, Maria and Nate (the first three were classified as major hurricanes, which affected roughly 25.8 million people). Also during this…
Census Bureau: Small Area Income and Poverty Estimates for Counties
In 2016, the median household income for all counties ranged between $22,045 and $134,609, with a median county-level value of $47,589, according to the new Small Area Income and Poverty Estimates report released today by the U.S. Census Bureau. Between 2007 (the year before the most recent recession) and 2016, 70 counties had a statistically…
FEMA: Partnerships and Progress – $10 Billion in Disaster Assistance in the Hands of Texans
AUSTIN, Texas – More than $10 billion in state and federal resources and plenty of hard work by resilient Texans pave the way to recovery from Hurricane Harvey. Here’s a snapshot of recovery 90 days after the Category 4 storm struck Texas: $1.4 billion in federal grants were approved for 350,000 homeowners and renters. $2.6…
FHFA: Index Shows Mortgage Rates Decreased in October 2017
Nationally, interest rates on conventional purchase-money mortgages decreased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.98 percent for loans closed in late October, down 2 basis points from 4.00 percent in September….
Federal Reserve: FEDS | Bank Failures, Capital Buffers and Exposure to the Housing Market Bubble
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble (PDF) Gazi I. Kara and Cindy M. Vojtech Abstract: We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis…
Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…