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Tag Archives: Beige Book

Fed Report Shows Stagnant Real Estate Market

The Beige Book reports that home prices are on a steady rise in most districts, though several districts note low inventories of existing homes. Lending activity stayed steady for the most part, with some slight increases.

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Economic Activity Expands and Home Sales Increase In Most Fed Districts

"Almost all of our contacts noted a seasonal increase in their residential mortgage business, which was heavily weighted toward new-home purchases," the Fed wrote. "The rapid rise in rental rates was cited as a motivating factor to purchase homes. Little change was reported in delinquencies (already at low levels) and loan-application standards."

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Fed Reports ‘Steady to Improving’ Residential Real Estate Activity in Most Districts

The districts of Richmond, Chicago, and Dallas reported that residential mortgage demand, particularly in the area of refinancings, grew during the period, while New York reported steady growth. Delinquencies were down or at low levels in New York and Cleveland, while Philadelphia and Kansas City bankers expressed confidence in the quality of their loan portfolios, according to the Fed.

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