Category Archives: David Nice
Total consumer credit grew by $13.6 billion in August. The increase is attributable to growth in the nonrevolving credit sector, more specifically student loans backed by the federal government. August marks yet another month in a long stretch when credit growth is driven almost solely by government student loan growth. In line with this trend, [...]
Initial jobless claims ticked back down this past week to 331,000. The four-week moving average remained flat at 331,000 as well.
The rapid rise in mortgage interest rates (See chart 1: Rates for 30-year Mortgages.) over the past 6 months has had a direct and profound impact on housing affordability (See chart 2:Housing Affordability.). That, coupled with the large premiums that are currently being paid for new homes (See chart 3: New Home Premium.) compared to [...]
Weekly unemployment claims ticked up slightly during the week ending August 17th, but the-four week moving average remains on a downward trajectory. States reporting the highest number of initial jobless claims included South Carolina, New York and Oregon.
In March total consumer credit outstanding posted its 19th consecutive month of growth. Total Credit expanded by $8.0 bil., comprised of a $9.7 bil. expansion in nonrevolving and a contraction of $1.7 bil. in revolving credit (see chart below). On the surface this data appears promising:
Weekly unemployment claims moved back above the 350,000 threshold to 360,000 during the week of May 11. Read more
The number of Americans filing new unemployment claims last week declined by 18,000 to 324,000. That is the lowest weekly level since 2008. The four-week moving average, which helps smooth out noise in the weekly figures, also declined by 16,000 to 342,250. The largest decreases in claims were in California and New York.
Weekly jobless claims (see blue line in chart below) declined by 16,000 for the week ended April 20. That is the lowest level since the beginning of March and near the lowest level since January 2008. The more important, 4-week moving average (see green line in chart below), which smoothes out one-off factors, also headed lower, down [...]
Consumer credit continues to expand, led by robust gains in non-revolving credit, especially student loans. Revolving credit, such as credit card balances, posts meager gains in February.