Tag Archives: Federal Reserve Bank of New York

According to the New York Fed, consumers are growing less optimistic about their financial and employment prospects.

The uncertainty surrounding the highly anticipated interest rate hike has kept the industry on its toes about just when the Federal Open Market Committee will raise rates, but New York Fed President William Dudley has recently reversed his initial forecast for the increase, presenting even more skepticism.

According to the New York Fed, foreclosures hit their lowest point in the 16-year history of the bank's Consumer Credit Panel, which uses anonymized Equifax credit data to generate a nationally representative sample.

The survey found that home price change expectations rose to 3.5 percent, their highest level this year, and median earnings growth as well as household spending growth expectations increased from the prior month. Median consumer inflation expectations at both the short and medium term horizon continue to be stable, while labor market expectations also continued to improve and credit availability expectations were largely unchanged.

Delinquency rates improved overall in the first quarter of 2015, according to the New York Fed. At the end of Q1, about $679 billion of household debt was in some stage of delinquency (representing about 5.7 percent of outstanding debt), a decline from 6.0 percent reported at the end of the previous quarter.

The Committee is accusing the U.S. Department of Justice, the Treasury Department, and the Federal Reserve Bank of New York of obstructing active investigations by withholding crucial information. According to the Committee's announcement, the three agencies were warned that their failure to comply with the Committee's request to turn over the information would result in the issuance of subpoenas.

With GSE reform a hot topic among government officials and those in the housing industry, the Federal Reserve Bank of New York has issued a report stating that the "path forward for reform of Fannie Mae and Freddie Mac does not look promising" and that failure to wind down the GSEs equated to a "colossal missed opportunity" to put U.S. residential housing finance on more stable footing.

The Federal Reserve Bank of New York released its latest Survey of Consumer Expectations for June 2014. The survey found that consumer's expect home prices to increase in every region except one—the South—where a slight decrease is expected.

The Federal Reserve Bank of New York released its Survey of Consumer Expectations for May 2014. The survey found that home price change expectations fell slightly for the fourth straight month, reaching a new low of 3.77 percent.

A new survey put out by the Federal Reserve Bank of New York found that consumer expectations rose slightly in March, and home price change expectations declined slightly. The bank's findings from the Survey of Consumer Expectations (SCE) found that consumer expectations both rose at the one-year and three-year horizon by 3.2 percent and 3.4 percent, respectively.