U.S. subprime consumers are increasingly falling behind on their auto loan payments, according to Bloomberg. In September, 6.11% of subprime auto borrowers were 60 days past-due, the highest percentage since 1994, according to Fitch Ratings....
Read MoreCRE lending levels are decreasing as default risks on expiring debt loom. Investor demand to develop or buy CRE has diminished under the pressure of rising costs, resulting in the number of new commercial construction...
Read MoreHigh mortgage rates have brought residential property sales to their lowest level since the 2008 subprime crisis. According to Freddie Mac, the average rate on a 30-year fixed rate mortgage rose to 7.57%, putting a...
Read MoreCompanies with a large amount of debt are frequently bypassing traditional bank lending, and instead turning to direct lenders within the private credit industry to refinance their outstanding debt. To account for these higher-risk corporate...
Read MoreIn response to industry concerns, the FHFA plans to broaden its reps and warrant loan repurchase policies to include loans that have successfully exited a Covid-19 forbearance plan. In prepared remarks before an industry conference,...
Read MoreThe recent surge in long-term U.S. Treasury yields has been associated with a sharp rise in the term premium. This “unknowable number” is the residual yield after accounting for anticipated path of short-term interest rates over...
Read MoreCentral bank officials could be nearing the finish-line of raising short term interest rates if long term rates remain at recent highs and inflation continues to cool. The Fed previously raised the federal funds rate...
Read MoreIn a speech on September 9, Federal Reserve Vice Chair for Supervision Michael Barr addressed concerns surrounding the recently proposed Basel III capital regulations. Barr emphasized that these regulations are critical to completing the implementation...
Read MoreOn September 3, the Supreme Court heard oral arguments for CFPB v. Community Financial Services Association, which challenges the constitutionality of the CPFB’s funding structure. Justices on both sides of the aisle seemed hesitant to validate arguments that the...
Read MoreOn September 26, the FHFA released its national house price index for July 2023. According to the index, average home prices rose 0.8% from June to July 2023, and 4.6% on a year-over-year basis. Read...
Read MoreOn September 27, the CFPB released its annual report on residential mortgage lending trends for 2022. The report notes that the average monthly principal and interest payment for a new 30-year fixed-rate mortgage originations increased...
Read MoreAccording to the WSJ, commercial real-estate (CRE) insurance costs have risen 7.6% annually on average since 2017. Citing data from Moody’s Analytics, natural disasters, inflation, and a shrinking reinsurance market have pushed insurance premiums to...
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