Posts

ICE: Mortgage Delinquencies Ease in July

-
Non-current mortgages moved lower in July, according to the most recent ICE Mortgage Monitor . The service reported that total non-current mortgages nationally dropped to 3.9% in the month compared to 4.1% in June, with the delinquency falling to 3.4% from 3.6% in the prior month, and foreclosures holding steady at 0.5%. However, both of these figures were higher y/y. Delinquency and foreclosure rates were the highest in the South and Midwest, with Louisiana (8.2%), Mississippi (8.1%), Alabama (6.0%), Indiana (6.0%), and Arkansas (5.6%) comprising the top five. The states with the best performing mortgages in July were concentrated in the West, with Idaho, Montana, Washington, California, and Oregon reporting the lowest non-current rates, all 2.4% or less. The states seeing the greatest y/y increase in non-current rates were Hawaii (28.7%), Colorado (+17.2%), Michigan (+16.4%), Kentucky (+15.8%), and Indiana (+14.1%). New York, South Dakota, Wyoming, and Idaho say y/y declines in thei...
Post a Comment
Read more

Hawaii: Slower Growth Projected

-
The Hawaii Department of Business, Economic Development and Tourism moved its estimate of the state’s GDP growth lower in its latest quarterly economic report . The Department now estimates  real GDP growth of 1.3% for the state in 2026 compared to the previous quarterly estimate of 1.6%. Additionally, it forecasts growth of 1.6% in 2027 and 1.8% in 2028 and 2029. Actual real GDP growth in 2025 was 2.5%. Non-ag employment growth is projected to be 0.3% for 2026 and 0.5% in 2027, 2028, and 2029. Finally, the Department anticipates an increase in visitor arrivals of 0.9% in 2026 with shorter stays and 4.5% fewer visitor days, but an increase in visitor spend of 2.3%. 
Post a Comment
Read more

Survey: Connecticut Consumers Gloomy

-
The new Connecticut Consumer Outlook Survey from the CBIA Foundation Economic Growth & Opportunity indicates that most of the state’s residents are under increasing financial pressure. According to the survey results, 50% of Connecticut residents view themselves as worse off financially than a year ago, and only 9% think they are in better shape. Further, 40% expect their financial condition to deteriorate over the next twelve months. As far as the overall Connecticut economy is concerned, 42% think it will be bad or mostly bad over the course of the next year, while 57% expect a recession in the next twelve months. One of the principal drivers of these downbeat figures appears to be the cost of living, as 87% of respondents indicated that the cost of living in the state has risen slightly or significantly over the last year.
Post a Comment
Read more

UVA Cooper Upgrades Virginia Growth Forecast

-
In its latest quarterly forecast , the University of Virginia's Weldon Cooper Center for Public Service has upgraded its projection of Virginia’s GDP growth to 0.5% in 2026 compared to the 0.2% decline it had forecast in May. Consistent with prior forecasts, the UVA economists see the state’s economic growth improving after 2026, with the new forecast calling for state GDP growth of 1.4% in 2027 and 1,6% in 2028. However, they note that the state’s economic growth is not accompanied by a corresponding growth in employment, as they forecast a 18,500 decline in payrolls for the state in 2026. While the state’s unemployment rate has continued to stay low, the UVA economists note that this has been due, in part, to sizable declines in the state’s labor force since early 2025. 
Post a Comment
Read more

Most New Mexicans Not Thrilled With the State’s Economy

-
A new poll from the Albuquerque Journal found that only 16% of those polled ranked the New Mexico economy as good, while only 1% thought it was excellent. On the other side of the ledger, 43% of respondents said the economy was fair and 38% labeled it as poor. In fairness, these results are reportedly not too dissimilar to those of the previous poll taken in 2024.
Post a Comment
Read more

Report: Minnesota Economy Vulnerable to AI

-
A new article in the Minnesota Reformer discusses the potential risk AI poses to Minnesota’s “headquarters economy”. The article suggests that the state’s economic culture is more supportive of Fortune 500 headquarters than of tech start-ups, making it more vulnerable to advances in AI. It cites a February 2026 report from NorthStar Policy Action and the University of St. Thomas, which concluded that “one-third of working Minnesotans, or over 800,000 workers, are in jobs with high levels of exposure to GenAI”. However, this doesn’t necessarily mean that AI will displace all of these workers. Instead, the report notes that “exposure could lead to supplementing existing jobs, rather than replacement”. 
Post a Comment
Read more

Beige Book: Kansas City and San Francisco Districts See No Economic Growth

-
In today’s release of the Federal Reserve’s August 2026 Beige Book , ten of the twelve federal reserve districts reported moderate growth since early July, but the Kansas City and San Francisco district banks reported no change in economic activity. Both reported softening consumer spending, as high energy prices pressure wallets and force consumers not only to shift to value-oriented retail establishments, but also to increase their use of credit cards for purchases. Financial institutions noted that some stress in loan portfolios is beginning to materialize.
Post a Comment
Read more