Debt Outstanding

January 25, 2020 The Congressional Budget Office recently reported that the  budget deficit for the current fiscal year is likely to be $1.0 trillion.   A deficit of that magnitude will push debt held by the public to 80.7% of GDP.  For the first seven years of the...

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Budget Deficit

January 25, 2020 The Congressional Budget Office reported that the budget deficit for fiscal year 2019 came in at $984 billion.  For the current fiscal year (FY 2020)  the budget deficit is projected to be $1.0 trillion.  It will remain above the $1.0 trillion...

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Initial Unemployment Claims

January 23, 2020 Initial unemployment claims rose 6 thousand in the week ending January 81 to 211 thousand.  The four-week average of claims declined 4 thousand to 213 thousand.  The 4-week average for the week of April 13 of 202 thousand was the lowest for the...

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Consumer Debt Service Ratio

January 20, 2020 Consumers debt service payments relative to income was unchanged in the third quarter at 9.7% which is the lowest on record for a series that stretches back to 1980 -- 38 years ago! The household debt service ratio is an estimate of the ratio of...

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Existing Home Sales

January 22, 2020 Existing home sales jumped 3.6% in December to 5,540 thousand after having fallen 1.7% in November.  Sales currently are 10.8% higher than where they were at this time last year. Lawrence Yun, NAR chief economist said that “Home sellers are...

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Mortgage Loans

January 20, 2020 Real estate loans rose at a 3.9% pace in December after  having risen 5.5% in November (the light blue bars).   Over the course of the past year mortgage lending has risen 4.0% (the dark blue line). Total loan growth in the past year has been...

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Consumer Loans

January 21, 2020 Consumer loans rose 6.4% in December after having risen 3.8% in November (the purple bars).  Over the course of the past year consumer loans have climbed by 6.0% (in red). Led by a pickup in both consumer and mortgage ending activity, total loan...

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