CFPB: New Report Finds that Manufactured Housing Loan Borrowers Face Higher Interest Rates, Risks and Barriers to Credit
Consumers tend to be rural and lower income, and those who do not own the underlying land have the greatest challenges Today the Consumer Financial Protection Bureau (CFPB) published a report that provides new insights into manufactured housing financing, a vital source of lending for millions of manufactured housing homeowners. Manufactured housing is a small…
HUD and Census Bureau: New Residential Sales Report for April 2021 Released
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 April 2021: New Home Sales Sales of new single-family houses in April 2021 were at a seasonally adjusted annual rate of 863,000. This is 5.9 percent (±11.2 percent)* below the revised March…
FHFA: U.S. House Prices Rise 12.6 Percent Over the Last Year; Up 3.5 Percent in the First Quarter 2021
U.S. house prices rose 12.6 percent from the first quarter of 2020 to the first quarter of 2021 according to the Federal Housing Finance Agency House Price Index (FHFA HPI®). House prices were up 3.5 percent compared to the fourth quarter of 2020. FHFA’s seasonally adjusted monthly index for March was up 1.4 percent from February. “House price growth over the…
FHFA: First-of-its-Kind Comprehensive Dataset on Mortgage Risk from 1990-2019 Published
Data included in a revised working paper leads researchers to challenge some long-held assumptions about the impetus of the 2008 financial crisis Today, to improve policymakers’ understanding of how mortgage risk has evolved over time and the role it played in the 2008 recession, FHFA released a revised staff working paper, “A Quarter Century of…
Census Bureau: Household Pulse Survey Phase 3.1 Biweekly Data Released
The U.S. Census Bureau today released new data from phase 3.1 of the experimental Household Pulse Survey. Phase 3.1 includes substantial revisions to the questionnaire. Additional questions address the following new topics: disability, child health access, telehealth and child care. Also included are demographic questions to identify service members and military spouses, and questions to classify respondents employed…
ABA: Report Shows Addressing Unbanked & Underbanked Challenges Requires Multifaceted Approach
Enhancing existing programs, highlighting no- and low-cost bank account offerings, improving financial education, expanding broadband internet access, and encouraging the opening of bank accounts during government benefit program enrollment will help address the unbanked/underbanked challenge in the United States. A new report, Delivering Financial Products and Services to the Unbanked and Underbanked in the United States…
Census Bureau: Small Business Pulse Survey Phase 5 Begins
The U.S. Census Bureau today announced the beginning of data collection for Phase 5 of the Small Business Pulse Survey (SBPS). This experimental survey was designed to measure temporal economic trends in the nation’s small businesses and provide insight into the scope of impact of the pandemic response in the United States. No significant changes were made…
FHFA: Report Published on the Performance of Fannie Mae’s and Freddie Mac’s Single-Family Credit Risk Transfers
Report finds the Enterprises’ CRT net cost was $15 billion from July 2013 through February 2021 The Federal Housing Finance Agency (FHFA) today published a report on the performance of Fannie Mae’s and Freddie Mac’s (the Enterprises’) single-family credit risk transfers (CRT). The report focuses on securities issuance and insurance/reinsurance credit risk sharing vehicles, which…
Federal Reserve: Report Issued on the Economic Well-Being of U.S. Households
in the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board’s report, Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults…
ABA: Report Shows Consumer Credit Recovery Continued in Fourth Quarter of 2020
The consumer credit recovery continued in the fourth quarter of 2020, building off trends established last fall, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Monthly purchase volumes improved across risk groups for the second consecutive quarter as the share of Revolvers (those who carry over a monthly balance) hit a…