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The MReport Webcast: Friday 6/12/2015

Increases in home prices and the stock market pushed household wealth to nearly $85 trillion for the first quarter of 2015, according to the Federal Reserve’s Statistical Release today. The net worth of households and nonprofits rose increased by $1.63 trillion to $84.9 trillion during the first quarter of 2015. Meanwhile, the value of directly and indirectly held corporate equities increased by $487 billion and home values rose $503 billion.

 

The Fed reported that stocks and pension-fund holdings values increased by increased by $1.07 trillion in the first quarter among Americans and non-profit groups, and household real-estate assets increased by $472.5 billion. Americans appear to be keeping borrowing to a minimum and evading debt as the report noted that household borrowing was at its lowest rate since the end of 2013. Household debt increased at an annual rate of 2.2 percent in the first quarter of 2015 totaling $13.6 trillion.

 

In response to the positive Bureau of Labor Statistics employment data released on Monday, the 30-year fixed-rate mortgage rose above 4 percent this week for the first time since November 2014. Freddie Mac’s Primary Mortgage Market Survey, revealed that the average fixed mortgage rates averaged 4.02 percent for the week ending June 11, 2015. Last week’s mortgage rates averaged 3.87 percent, while this week’s rates averaged 4.04 percent.

About Author: Jordan Funderburk

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