Retail Sales Up 0.3 Percent in December

The ABA Office of the Chief Economist believes that the hot CPI reading in September shows no alleviation of the affordability pressures households face. This could be a headwind for loan demand, particularly for interest rate sensitive products such as...

Slower expansion plans could weigh on demand for small-business credit, while sustained inflation and labor costs may pressure small-business margins and debt-service capacity. For banks, these dynamics could temper commercial loan demand.

The University of Michigan Consumer Sentiment Index decreased 3.7% in October compared to the month prior, landing at 46.3, according to preliminary results for the month.

While most U.S. families experienced moderate increases in income and net worth in recent years, the share of families experiencing financial stress also grew, the Federal Reserve said in its triennial Survey of Consumer Finances.

Consumer credit increased at a seasonally adjusted annual rate of 1.9% in August, according to the Federal Reserve. Revolving credit decreased at an annual rate of 4.2%, while nonrevolving credit increased at an annual rate of 4.1%.

The rate for a 30-year fixed-rate mortgage was 7.4% this week. The rate for a 15-year fixed-rate mortgage was 6.73%.