The credit union industry’s first mortgage concentration averaged at 41.37% in the second quarter of 2013, which is in line with last year’s rate at 41.36%. Both first mortgage loans and total loans increased by 5.9% over the past year. With the economy on the upswing, the U.S. real estate market showed improved momentum and so did the credit union industry’s overall lending activities.
According to Callahan & Associates’ FirstLook, credit unions in Rhode Island reported the highest percent of first mortgage loans to total loans as of June 2013. Rhode Island posted 67.44% in first mortgage concentration on average, up 225 basis points from the previous year. North Carolina came in second, with first mortgage loans comprising 66.80% of its loan portfolio. First mortgage loans at credit unions in District of Columbia rounded out the top three with 65.34% in first mortgage concentration.
LEADERS IN FIRST MORTGAGE CONCENTRATION
Data as of June 30, 2013 for All Credit Unions in the U.S.
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Generated by Callahan & Associates' Peer-to-Peer Analytics