National household debt metrics, 4Q2016

Better Borrowing

Total household debt increased by $226 billion in 16Q4, and is just $99 billion below the peak of $12.7 trillion set in 08Q3. However, household debt is now just 67% of GDP, down from 85% at the peak. Moreover, back in 2008 housing-secured debt accounted for 79% of household liabilities, today it’s just 71%. Lastly, in 08Q3 8.5% of household debt was delinquent, while now the rate is 4.8%.

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NAHB/Wells Fargo Housing Market Index (HMI) for February, 2017

nahb

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Lumber prices spike; house prices could be affected

lumber

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Fourth quarter spike in FHA loan foreclosures; the beginning of an upward trend?

fha

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National building permits and starts for January, 2017

U.S. Census Bureau releases new data on building permits in January 2017 showing seasonally adjusted annual rate (SAAR) of 1,285,000, up 4.6 percent from the revised December rate, and up 8.2 percent from January 2016.
Housing starts in January 2017 were at a SAAR of 1,246,000, down 2.6 percent from December 2016, but up 10.5 percent from January 2016.

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Mortgage applications for week 1, February, 2017; refi activity at 9 year low

refi

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NAHB leading markets housing index for January, 2017

hba

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