Single-family Lending Soars

OriginationNews tells according to the Federal Reserve, single-family loans lending by the 25 largest banks has spiked this quarter, increasing $11.2 billion, at an annualized rate of 56 percent, to a non-seasonally-adjusted total of $4 trillion for the week ending May 9. Home mortgage lending was just below 40 percent, while commercial and industrial loans in the second quarter accounted for 62 percent of total loan growth. Brian Klock, an analyst at Keefe, Bruyette & Woods, says, “The increase in volumes has coincided with a drop in interest rates, so it would stand to reason there is more refinancing volume than purchase volume.”

(Image credit: ForeclosureListing)

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