- Iowa Bankers Association
- 8800 NW 62nd Avenue
- Johnston, IA 50131
- Toll-Free: 800-532-1423
- Local: 515-286-4300
- Fax: 515-280-4140
Credit Seen Growing Slowly in 2010
Credit Seen Growing Slowly in 2010
American Banker (01/19/10)
The federal funds rate will rise as high as 0.65 percent by the fourth quarter and conventional mortgage interest will jump as high as 6.15 percent, projects the 2010 economic forecast from the American Bankers Association. There will be a slight improvement in delinquencies and foreclosures, but the unemployment rate remains a problem, according to the outlook, which foresees slow growth in the credit markets this year. Also, small business-lending will recover, but consumers may continue to focus more on paying down debts than borrowing any more money at this time.
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