Data released late Friday by the Federal Reserve indicate that the total
amount of real estate loans outstanding at the nation's commercial banks fell
$700 million, to $3.305 trillion. It's a relatively small decrease, and the drop
does not alter the recent trend, which has been up, following a multi-month
period of increases. Hence, between the data on mortgage applications (up
strongly of late) and the loan data, it is still valid to conclude that there
has been an uptick in housing demand of late.
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Tony Crescenzi Blog Big News for Bonds 12/26/2006 9:36 AM EST We'll see two data points that should explain the recent rally.
Tony Crescenzi Blog Top Supporting Factors for 2007 12/22/2006 1:28 PM EST There are plenty of reasons to believe the U.S. will avoid a recession in 2007.
Tony Crescenzi Blog Income a Key Facet for 2007 12/22/2006 11:45 AM EST In the context of housing and oil, this is especially true.
Tony Crescenzi is the chief bond market strategist at Miller Tabak + Co., LLC, and advises many of the nation's top institutional investors on issues related to the bond market, the economy and other macro-related issues. At the request of the Federal Reserve, Crescenzi is a regular participant in the board's Livingston Survey of economic forecasters. He is also the author of The Strategic Bond Investor. At the time of publication, Crescenzi or Miller Tabak had no positions in the securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Crescenzi also is the founder of Bondtalk.com, a popular Web site covering the bond market and the economy. Crescenzi appreciates your feedback; click here to send him an email.
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