All Posts Tagged: lending

U.S. Outlook: Economy runs hot in the second quarter

Scott Anderson
Chief Economist

Second quarter real GDP pierced the 4.0% barrier, as we expected, with the advance estimate from the BEA coming in at a sizzling 4.1%.

Busy, crowded street scene in Times Square, NYCThe above-trend growth was driven by a number of factors.

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on July 27.

Key observations:
  • Consumer spending alone was responsible for 2.7 percentage points of the 4.1% gain in U.S. real GDP growth last quarter.
  • We forecast real consumer spending growth of around 2.4% annualized in the third quarter.
  • GDP growth would have been a lot stronger last quarter if there weren’t a big drop in business inventories.
  • Bottom line: The 4.1% Q2 GDP print was impressive, but not sustainable in the quarters ahead.

Read my full report.

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5 things for prospective mortgage borrowers to avoid

Victor Polich
Mortgage Banking
Young man sitting near a window, reviewing info on his tablet while holding a cup of coffee.

Keep in mind almost every lender will pull an updated credit report just prior to closing to ensure your financial situation hasn’t changed.

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Looking to buy or refinance? Pay attention to the number 43.

Stew Larsen
Posted by Stew Larsen
Mortgage Banking
Young couple reading financial documents in kitchen

Your total debt payments relative to your total income is called your debt-to-income ratio, which prospective lenders will be watching.

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What small business taught me: the importance of enthusiasm

Don Mercer
Posted by Don Mercer
Small Business Banking
Young, smiling man wearing an apron and holding a pen while sitting at a table and talking to a business woman.

It takes enthusiasm to be the founder, janitor, receptionist, head salesperson, marketing department, and usually financier of a fledgling business.

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In the Market: Millennials’ spending & credit trends

Nneka Madus
Posted by Nneka Madus
Mortgage Market Analyst
Young man sitting in big arm chair near bay windows in his living room.

Since many millennials aren’t buying homes, what exactly are we spending our money on?

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