Auto Lending on the Rise in the South
Auto lending activity increased in the South in July and August, according to the Federal Reserve’s Beige Book released this afternoon.
According to the Dallas Fed, “Some contacts reported an increase in demand for auto loans, saying they were unsure how much of it was a result of the cash-for-clunkers program.” Overall, the Dallas Fed said, “There were scattered reports of improvement in loan demand over the past six weeks, although contacts remain cautious about the future.”
Mortgage activity improved in the Dallas Fed’s region, although commercial real estate loans did not. The Dallas Fed’s district consists of Texas, northern Louisiana and southern New Mexico.
Overall, the Beige Book reported that the US economy firmed in July and August.
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