As credit unions approached the last quarter 2005, all indications showed they were headed to finish the year with strong mortgage activity. As these charts from Callahan & Associates show, as of Sept. 30, 2005, CUs had more real estate loans in their portfolios than auto loans, the staple of credit unions lending activity. At the end of the third quarter, real estate loans made up nearly half of CUs' portfolios, and most of those were fixed rate. Mortgage penetration among members has started to rise - by the end of the third quarter it was at a high of 4.34%. In addition, the average loan balance continued to rise. However with all this good news, loan yields continued to drop through the third quarter even as loan production increased.
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From the February-01, 2006 issue of Credit Union Times Magazine • Subscribe!
Credit Unions Maintain Strong Mortgage Muscle in 2005
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