Posts Tagged ‘growth’

Consumer Borrowing Slows in June

Posted on August 10, 2017 by Laura Lam

Consumer borrowing slowed a bit in June from the torrid growth in the prior month, but continued at a solid pace, according to government data released Monday.  Total consumer credit increased $12.4 billion in June to a record seasonally adjusted $3.86 trillion, posting an annual growth rate of 3.9%, according to the Federal Reserve.  This is down from a revised $18.3 billion gain in May, which was the strongest rate in six months. Consumer borrowing slowed a bit in the second quarter as a whole, continuing a trend in place since last fall. Credit rose at a 4.5% annual rate…

Rising Interest Rates Take Toll on Home Affordability

Posted on February 02, 2017 by Laura Lam

November brought a reversal to the growing home affordability with a sudden drop, according to First American Financial Corp.’s Real House Price Index.  What the company calls “real house prices” increased 4.4% from October to November, reversing the decreasing trend. “Real purchasing-power adjusted house prices jumped 4.4% month-over-month, reversing a 6-month trend of decreases,” said First American Chief Economist Mark Fleming.  “Year-over-year, real house prices have increased 2%.”  “The shift in real house prices signals a decrease in affordability, driven primarily by rising mortgage rates,” he added.  “However, while rates are increasing, they remain very low from a historical standpoint.” The RHPI…

5 Best U.S. Counties to Be a Banker

Posted on March 09, 2016 by Laura Lam

Since deposits are the starting point of a good banking relationship, you might look to do business in 1 of the 5 states with the highest average balance per household (figures in blue). Most of those are in the Northeast. Perhaps an even smarter choice would be in one of the states with the greatest increase in deposit balances over the past three years (figures in green). More of those are in the Midwest. St. Louis County, Mo. – Missouri is No. 1 in household-deposit growth, and the Show Me State’s county with the highest estimated average household deposit balances…

Only 3 Major U.S. Cities Have Recovered From Recession

Posted on December 03, 2012 by Saldutti

Everybody knows the US economy has been struggling since the recession ended in 2009. But just how bad are things? Of the United States’ 76 major metropolitan areas, just three are in economic recovery now, according to a new study by the Brookings Institution.  That may seem terrible, but it’s up from last year, when zero were classified as in recovery. All three cities – Knoxville, Tennessee; Dallas, Texas; and Pittsburgh, Pennsylvania – have strong local service industries as well as banking and finance institutions that cater to certain industries. All three cities experienced major recessions –  which the report defines as…