Financial Update (Second Quarter 2007)

Bank Asset Growth Robust, Statistics Show

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Federal Reserve Bulletin Statistical Supplement off-site image
Commercial bank assets are on the rise and outstanding consumer credit keeps inching up. Moreover, despite the current drop in home resales, the cost of buying a new home has increased significantly in the past several years, according to the April 2007 statistical supplement to the Federal Reserve Bulletin.

Here are some key measures of current banking and finance:

Assets and Liabilities of U.S. Commercial Banks
  March 2006 March 2007
Total assets $9.01 $9.81
Total liabilities $8.23 $8.92
     
Note: Figures are seasonally adjusted and represent trillions of dollars.
Source: Federal Reserve Bulletin Statistical Supplement


U.S. Mortgage Markets
    2004   2007 (year to date)
Average new home purchase price   $292,000   $361,900
Average amount of a new home loan   $215,000   $270,300
Average loan-to-price ratio   76 percent   76.3 percent
         
Source: Federal Reserve Bulletin Statistical Supplement

Mortgage Debt and Consumer Credit, 2004–06
    2004   2005   2006
Outstanding mortgage debt   $10.7   $12.1   $13.3
Total Outstanding consumer credit   $2.2   $2.3   $2.4
             
Note: Figures represent trillions of dollars.
Source: Federal Reserve Bulletin Statistical Supplement



May 22, 2007