SBA: New Report Helps Explain Differences in Latino Business Ownership and Income
A new report prepared for the Office of Advocacy by Professor Robert Fairlie, “Latino Business Ownership: Contributions and Barriers for U.S. Born and Immigrant Latino Entrepreneurs,” evaluates the differences in Latino self-employment rates and business income, comparing immigrant and U.S.-born Latino men and women with non-minorities. Roughly 600,000 business owners are U.S.-born Latinos, with an…
Federal Reseve: Entrepreneurship and State Taxation
FEDS 2018-03 Entrepreneurship and State Taxation (PDF) E. Mark Curtis and Ryan A. Decker Abstract: Entrepreneurship plays a vital role in the economy, yet there exists little well-identified research into the effects of taxes on startup activity. Using recently developed county-level data on startups, we examine the effect of states’ corporate, personal and sales tax…
Federal Reserve: New Interactive Data Tools Added to Website for the Financial Accounts of the United States
The Federal Reserve Board on Thursday added three new tools to its web site to provide interactive access to data from the Board’s Financial Accounts of the United States (Z.1) release, which tracks the aggregate wealth of U.S. households and other economic sectors. The data visualization tools show, at a glance, the evolution of key…
ABA: Report Shows Consumer Delinquencies Mixed in Third Quarter
The delinquency picture was mixed in last year’s third quarter, as delinquencies in closed-end loans (like personal or auto loans) rose while delinquencies in key open-end loans (like credit cards) fell, according to results from the latest American Bankers Association Consumer Credit Delinquency Bulletin. Overall, delinquencies fell in 5 and rose in 5 of the…
Federal Reserve: Inequality in 3-D – Income, Consumption and Wealth
Finance and Economics Discussion Series (FEDS) Inequality in 3-D: Income, Consumption, and Wealth (PDF) by Jonathan Fisher, David Johnson, Timothy Smeeding, and Jeffrey Thompson Abstract: We do not need to and should not have to choose amongst income, consumption, or wealth as the superior measure of well-being. All three individually and jointly determine well-being. We…
Federal Reserve: Recent Trends in Small Business Lending and the Community Reinvestment Act
Tim Dore and Traci Mach In this note, we analyze data on small business loan originations collected under the Community Reinvestment Act (CRA) to document heterogeneity in the recovery in small business lending since the financial crisis. Small business loan originations by CRA respondents declined significantly between 2007 and 2010 and, by 2016, have only…
FHFA: Index Shows Mortgage Rates Increased in November 2017
Nationally, interest rates on conventional purchase-money mortgages increased from October to November, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.05 percent for loans closed in late November, up 7 basis points from 3.98 percent in October….
CFPB: New Report Released on the State of the Credit Card Market
The Bureau of Consumer Financial Protection (Bureau) today released its biennial report on the state of the credit card market. The report found that the total amount of credit line, number of accounts, average amount of card debt, and enrollment in online services have all increased over the past several years. The report found also…
FEMA: After the Disaster Assistance Registration Deadline Fact Sheet
While it has been more than 100 days since Hurricane Harvey made landfall, and the disaster assistance registration deadline has passed, there is still a lot of work to be done. Harvey survivors are part of the whole community effort. The steps they take on their road to recovery and the decisions they make about…
FHFA: House Price Index Up 0.5 Percent in October 2017
U.S. house prices rose in October, up 0.5 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.3 percent increase in September was revised upward to 0.5 percent. The FHFA monthly HPI is calculated using home sales price information from mortgages…