This is a good take on the percentage of debt many homeowners are carrying as a percentage of GDP. I would think somewhere along the line, individual income plays a role in all of his. What Bill is telling us is the same hazards of lending are not as pronounced this time. Either banks, etc. […]

NY Fed: Mortgage Originations by Credit Score, Delinquencies Increase, Foreclosures Remain Low; Calculated Risk Newsletter The NY Fed released the Q3 Quarterly Report on Household Debt and Credit this morning. Here are three charts from the report. The first graph shows mortgage originations by credit score (this includes both purchase and refinance). Look at the difference in credit […]

 – by New Deal democrat Now that we have new as well as existing home sales, let’s take a little more extended look at the housing sector. Let me start by reiterating the big picture: mortgage rates lead sales, which in turn lead prices. Further, new home sales are the most leading of all housing […]

 – by New Deal democrat Let’s begin this post by putting why I am watching new home sales in context. The economy was kept out of recession last year, despite aggressive Fed rate hikes, in large part by commodity price deflation, much or most of which was triggered by the un-kinking of supply chains after […]

by Mike Kimel What it Takes to Get a Mortgage These Days About six months ago I got a job that required relocation. To make a long story short, we just purchased a new home. As part of the process, the lenders required a lot of paperwork. Not a surprise. But some of the paperwork […]

Yves Smith continues to follow the progress of investigations in  More Caution and Skepticism About Federal Mortgage “Investigation” While a large number of “liberal” groups, ranging from the official Democratic party outlets (the Center for American Progress) to ones that sometimes cross swords with the Administration (MoveOn, the Working Families Party) praised the Tuesday evening […]