Federal Reserve: Fed Notes – Can More Housing Supply Solve the Affordablilty Crisis? Evidence from a Neighborhood Choice Model
Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model (PDF) Elliot Anenberg and Edward Kung Abstract: We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so…
FFIEC: 2017 HMDA Data on Mortgage Lending Now Available
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
CFPB: FFIEC Announces Availability of 2017 HMDA Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 5,852 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. Released today are loan-level HMDA data that cover 2017 lending activity submitted by financial…
FEMA: Disaster Assistance Tops $50 Million to Florida Government and Nonprofits
The state and FEMA continue collaborating to bring federal disaster dollars to Florida for Hurricane Irma-related expenses. The agency’s Public Assistance program has provided Florida more than $50 million to reimburse local governments and certain nonprofits for disaster-related projects. Below are examples of the funding so far: Monroe County: about $3.3 million for emergency response…
CDFI Fund: Public Comments Requested on CDFI Program and NACA Program Annual Compliance Reports
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community…
Census Bureau: Economic Census Begins
The 2017 Economic Census is officially underway today as the U.S. Census Bureau began notifying businesses nationwide by mail with instructions on how to complete the survey online. Conducted once every five years, this is the first time the Census Bureau will conduct the survey almost entirely online. Only small businesses in U.S. territories will…
FHFA: Index Shows Mortgage Rates Increased in March 2018
Nationally, interest rates on conventional purchase-money mortgages increased from February to March, 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 4.49 percent for loans closed in late March, up 21 basis points from 4.28 percent in February….
ABA: Report Shows Credit Card Market Expanded in Fourth Quarter 2017 Amid Strong Holiday Spending Season
Credit card use continued to grow in the fourth quarter of 2017 on the back of a strong holiday season for consumer spending, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. On an annual basis, monthly purchase volumes rose 3.9 percent for prime accounts and 5.1 percent for super-prime accounts, but…
HUD and Census Bureau: New Residential Sales Report for March 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 March 2018: New Home Sales Sales of new single-family houses in March 2018 were at a seasonally adjusted annual rate of 694,000. This is 4.0 percent (±18.6 percent)* above the revised February…
FHFA: House Price Index Up 0.6 Percent in February 2018
U.S. house prices rose in February, up 0.6 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.8 percent increase in January was revised upward to 0.9 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…