The Federal Reserve reported that residential loan production increased in quarter-over-quarter comparisons for the second quarter in a row — though Fed data conflict with other sources. While mortgage debt outstanding was on the rise, loan delinquency was down.
For the three months ended Dec. 31, 2014, mortgage originations from all U.S. lenders came to $355 billion.
Loan production increased over the third quarter, when origination totals equaled $337 billion.
This information was provided through the Federal Reserve Bank of New York’s Q4 2014 Household Debt and Credit Report.
Though a quarterly increase was documented, the Fed said this activity was low by historical standards.
Fed data conflict with other origination data — which mostly indicate a decline in production from the third-quarter.
The Fed’s report indicates activity has slowed from the fourth-quarter 2013, when home lending came to $452 billion.
Altogether, the twelve months in 2014 saw $1.310 trillion in home lending activity, tumbling from $2.299 trillion in 2013.
The end of the fourth quarter saw mortgage debt outstanding at $8.170 trillion, an $0.039 trillion increase over the prior three-month period.
Compared to a year earlier, mortgage debt climbed, with year-over-year growth documented at $0.121 trillion.
The most recent quarter saw mortgage delinquency, at least 90 days past due, at 3.1 percent — a 10-basis-point drop from the third quarter percentage.
Delinquency was down 80 BPS compared to the fourth-quarter 2013.
As of Dec. 31 last year, home-equity lines of credit outstanding were at $510 billion.
This figure was $2 billion down from the third quarter and $19 billion down from a year earlier.
The recent quarter HELOC delinquency dropped 10 basis points from Sept. 30, 2014, to 3.2 percent.
But the HELOC delinquency rate was unchanged from a year ago earlier.
