1 minute readThe Federal Home Loan Bank (FHLB) System’s combined assets and advances to its members declined in the first quarter, based on unaudited preliminary results announced on Friday by its finance office. Total assets of the 12 regional FHLB system banks declined 5% to $966bn at March 31. Advances, which are secured loans to members, fell 9% to $572bn to represented 59% of total assets. Advances fell “due to the high deposit level at member financial institutions, low loan demand by FHLB members and continued availability of more attractively priced sources of funding and/or sources of liquidity with lower collateral requirements,” the government-sponsored agency said in a statement.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio