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Q3 borrowing decreases in all major sectors.
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Households had largest credit demand of any sector – even the federal government
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Household net worth and U.S. total net wealth also fell, but by more modest amounts.
Introducing
Carol Stone, CBE
in:Our Authors
Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
Publications by Carol Stone, CBE
USA| Dec 09 2022U.S. Financial Accounts Again Show Decreased Borrowing and Decreased Net Wealth in Q3
- Initial claims decline by 16,000 in November 26 week.
- Level of continued weeks claimed surged yet again.
- Insured unemployment rate still just above record low.
- The number of job openings fall in several industries.
- New hires decline for the 8th month this year.
- Quits down but layoffs rise in October.
USA| Nov 30 2022U.S. Mortgage Applications Decrease Modestly and So Do Rates
- Applications for loans to purchase rose...
- While applications to refinance fell 12.9%.
- Mortgage rates declined again on fixed-rate loans, and also decreased for ARMs.
USA| Nov 23 2022U.S. Mortgage Applications Rise for a Second Week
- Loans to purchase and to refinance both had gains.
- Mortgage rates decline on fixed-rate loans, but rose slightly for ARMs.
- Purchase applications strongest since June.
- Applications for loan refinancing extend downtrend.
- Mortgage rates decline, but still above end-2021 levels.
- General business conditions seen slightly positive.
- Shipments and delivery times increase; new and unfilled orders down somewhat
- Prices paid index and prices received both increase.
- Initial claims up just 7,000 in the week ended November 5.
- Continued weeks claimed just barely increase.
- Insured unemployment rate holds near record low.
USA| Oct 27 2022U.S. Initial Claims for Unemployment Insurance in Slight Rise
- Claims hold to low nationwide total.
- Continued weeks claimed up modestly.
- Insured unemployment rate remains near 51-year record low.
USA| Oct 26 2022U.S. Mortgage Applications Continue in Steep Decline
- Total applications lowest since April 1997.
- Purchase applications decrease again; refinance loan volume holds steady.
- Effective rate on 30-year fixed-rate mortgages up another 21 basis points.
USA| Oct 18 2022U.S. Home Builder Index in Marked Downtrend
- Present & expected sales decline
- Traffic of prospective buyers weakens
- Housing market conditions actually edge upward in the Northeast
- Initial filings rise modestly in October 8 week.
- Continued weeks claimed maintain recent tight range.
- Insured unemployment rate still holds near-record low.
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