The real reason Fannie and Freddie don't do principal modifications

Julián Castro sworn in, spends first day as HUD Secretary

Former San Antonio mayor takes over for Shaun Donovan

Blackstone adviser: Investors worried about ‘serious correction’

Byron Wien still holds his line
W S
Lending

What's happening with residential loans this quarter?

Commercial lending offsets real estate

Lending header
/ Print / Reprints /
| Share More
/ Text Size+

Residential loans are off to a weak start in the first quarter, with real estate loans down a full $10.2 billion for the week ending Feb. 19, according to the latest weekly report from Keefe, Bruyette & Woods.

The large drop in residential loans was offset by gains in commercial lending, which saw $15.3 billion gains for the week. Net loans increased $5.6 billion.

Overall consumer lending was up a modest $500 million, with small increases in both credit card receivables and other consumer loans.

Trends KBW is seeing for the first quarter include mid-single-digit growth in commercial lending, continued declining residential mortgage loans, strong CRE growth at both the large and small banks; and an increase in consumers paying down credit card debt.

After a 5.6% annualized decline in January, commercial loans have rebounded and are now up $27.3 billion for the quarter to date.

On a related note, consumer spending rose a seasonally adjusted 0.4% for January while personal income gained 0.3%, according to the U.S. Department of Commerce. The personal savings rate remains flat at 4.3%.

Recent Articles by Trey Garrison

Comments powered by Disqus