OCC: New Report Discusses Key Risks for Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported credit, operational, compliance, and interest rate risks are key themes for the federal banking system in its Semiannual Risk Perspective for Fall 2018. Highlights from the report include: Credit quality remains strong, but the OCC is monitoring the origination quality of new loans, the…
FHFA: Index Shows Mortgage Rates Increased in October 2018
Nationally, interest rates on conventional purchase-money mortgages increased 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 4.75 percent for loans closed in late October, up 13 basis points from 4.62 percent in September….
HUD and Census Bureau: New Residential Sales Report for October 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for October 2018: New Home Sales Sales of new single-family houses in October 2018 were at a seasonally adjusted annual rate of 544,000. This is 8.9 percent (±13.7 percent)* below the revised September…
FHFA: U.S. House Prices Rise 1.3 Percent in Third Quarter 2018
U.S. house prices rose 1.3 percent in the third quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.3 percent from the third quarter of 2017 to the third quarter of 2018. FHFA’s seasonally adjusted monthly index for September was up 0.2 percent from August. The…
HUD and Census Bureau: Residential Construction Activity Report for October 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for October 2018. Building Permits: Privately owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,263,000. This is 0.6 percent (±2.4 percent)* below the revised…
FHFA: Fannie Mae and Freddie Mac Refinance Volume Decreases in Third Quarter 2018
The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac completed 253,135 refinances in the third quarter of 2018, compared with 299,460 in the second quarter. FHFA’s third quarter Refinance Report also shows that 1,865 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP…
FHFA: 2018 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2018. For the tenth consecutive year, FHFA received an unmodified audit opinion on its FY…
Federal Reserve: New FEDS Notes Analyzes Rural Affordable Rental Housing
Rural Affordable Rental Housing: Quantifying Need, Reviewing Recent Federal Support, and Assessing the Use of Low Income Housing Tax Credits in Rural Areas (PDF) by Andrew M. Dumont Abstract: Recently, there has been significant interest in the high levels of rental cost burden being experienced across the United States. Much of this scholarship has focused…
ABA: Survey Shows 93 Percent of Americans Rate Their Bank’s Online and Mobile App Experience Highly
Data reinforce Americans like and appreciate innovative services offered by banks WASHINGTON — Ninety-three percent of Americans rated their bank’s online and mobile app experience as “excellent,” “very good,” or “good,” according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The survey also found that 7 in 10…
Census Bureau: New Statistics from the American Community Survey to be Embargoed
The U.S. Census Bureau will offer an embargo period for subscribers to view statistics from the 2013-2017 American Community Survey five-year estimates, which features more than 40 social, economic, housing and demographic topics, including homeownership rates and costs, health insurance and educational attainment. Embargo subscribers will have access to these statistics beginning Dec. 4 at…