Mortgage Lending is down more than 50% at the big banks from the 1st to 4th quarter. Higher interest rates on mortgages is leading to less refinances and fewer home purchases.The end of a credit expansion ends with tighter standards, not looser ones. There hasn't been a real private credit expansion yet in the economy, 5 years into a "recovery." Most likely it means it isn't coming (because this is a depression), but if private credit did begin growing again, it could fuel several more years of "recovery" before the bubble burst.
...Banks are hungry enough for mortgage revenue that they may relax standards and increase lending for home-purchase loans. Indeed, a recent Federal Reserve report on bank loan officers signaled that some are easing mortgage standards.
王毅访新西兰、澳大利亚 双边关系现稳定进展
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中国外交最高级别官员王毅18日访问了新西兰,进行新西兰新保守派政府上台以来的首次访问。他还将于20日访问澳大利 […]...
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