Not only did home sales drop to their lowest level in nearly 30 years, but first time home-buyers represented just 24% of home sales last year. That is the lowest % ever recorded. That, combined with growth in the amount…
Residential Real Estate Faltering in the Heartland
This hurricane season will undoubtedly have lasting effects on the people, businesses and banks operating in the Southeastern United States. Our hearts and prayers are with them. For the most part, residential real estate had been holding up quite well…
The American Dream is Alive, but Well?
In observance of Independence Day, Jumbo Rate News will not be published next week. Have a Festive and Safe 4th and wave that banner proudly. Our next issue (JRN 40:26) will be dated July 10th. Speaking of ‘Old Glory’ as…
Residential Real Estate Woes, It’s Déjà vu Again
Residential mortgage loans grew by 9.6% ($214 billion) at the nation’s banks during the 12 months ending September 30, 2022. In addition, the quality of these single family mortgage loans improved significantly over the year. The non-current rate for 1-4…
Bubble, Bubble, Toil and Trouble
We saw an interesting article in the American Banker recently (March 25, 2022) about the “red-hot housing market” looking like 2007. There are definite similarities, no doubt. And for those of us who were around in the 1980s, it’s déjà…
Lending a Helping Hand, Sometimes Means Lending.
Loan volumes at the nation’s community banks grew over 10% during 2020. And that’s no coincidence. With help from the Government’s Paycheck Protection Plan (PPP) Program, Commercial & Industrial (C&I) Loans accounted for more than two-thirds of that growth. But…
Businesses Upbeat But CFPB Screams “Help”
The latest Beige Book, released March 3rd and based on information collected through February 22nd, indicates that most businesses are optimistic with the roll-out of the COVID-19 vaccine. Employment levels, already slowly on the rise, are expected to continue that…