Consumer Loan Demand Weakens with Fewer Home Purchases: Fed
The Federal Reserve noted in a new report that lenders continued to be battered in the third quarter as consumer loan demand weakened slightly in some areas of the country. In New York, bankers reported "softer" loan demand from consumers, particularly for residential mortgages and home loan refinancing. Philadelphia-area bankers, meanwhile, expressed a similar sentiment but said that most financial companies continue to report "modest increases" in overall lending.
From "Consumer Loan Demand Weakens with Fewer Home Purchases: Fed"
American Banker (10/17/13) Borak, Donna
The Federal Reserve noted in a new report that lenders continued to be battered in the third quarter as consumer loan demand weakened slightly in some areas of the country. In New York, bankers reported "softer" loan demand from consumers, particularly for residential mortgages and home loan refinancing. Philadelphia-area bankers, meanwhile, expressed a similar sentiment but said that most financial companies continue to report "modest increases" in overall lending.
From "Consumer Loan Demand Weakens with Fewer Home Purchases: Fed"
American Banker (10/17/13) Borak, Donna
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