High prices for new and used cars were the norm in 2021, but if there were any hopes that prices would go back down this year, they may have already been dashed. In a recent interview with CNBC, the head of data and analytics for J.D. Power, Tyson Jominy, revealed that an estimated 89% of […]
Predicting The 2022 Housing Market
2021 was a rough year for home buyers. High prices and low inventory made it difficult for many prospective buyers, including first-timers, to find the home of their dreams. However, 2022 could see the market level out and “normalize,” and in turn, make it much easier for aspiring homeowners. The Mortgage Reports talked to some […]
Auto Loan Residual Values At Historic Highs
The COVID-19 pandemic brought about disruptions and changes to the auto market that likely won’t be seen again once the world is fully back to normal. While buyers and lenders alike have been hit hard by the negative consequences, such as lack of inventory due to the shortage of key components, current auto loan borrowers […]
Mortgage Lending Trends For 2022
Mortgage lending remained strong for credit unions throughout 2021 despite the current challenges of supply and pricing in the housing market. At the same time, the way business is done is continuing to evolve and become more digitized, and it will continue to do so in 2022. Here are couple of mortgage trends that, according […]
As Consumers Defer Purchases, What Will Become Of Lending?
For credit unions looking to make more mortgages and auto loans, there’s no doubt that there is demand for both homes and cars, and plenty of American consumers do have the means necessary to make such a large purchase. The problem is that those same consumers are not making the choice to buy right now. […]
Is Debit Here To Stay?
Credit cards have continued to remain popular over the years, but there are signs that their popularity may be waning. According to PULSE’s 2021 Issuer Study, while debit card transactions were slightly down, total debit spending grew 8% year-over-year. Much of that growth is due to the ticket sizes of these transactions, which increased from […]
Credit Unions See Q2 Mortgage Growth And Setbacks
The second quarter of 2021 saw credit unions gain more footing in the mortgage market, but overall growth remains minimal. According to the most recent CUNA Mutual Credit Union Trends Report, fixed-rate first mortgage loan balances grew 1.8% in June, faster than 1.3% reported in June 2020. Additionally, credit unions, as of June of this […]
Mortgages Drove Credit Union Loan Originations in Q1
The numbers for Q1 2021 have come in, and overall, credit unions saw strong growth in their loan portfolios! Credit Union Times reported in May that first-mortgage originations were the driving force for the loan growth this past quarter with a grand total of $75 billion, up 49% from Q1 2020. While these numbers are promising, the […]