Tag Archives: New York Fed

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.

Meanwhile, median home price inflation expectations fell from 3.5 percent in June to 3.2 percent in July, continuing a downward trend. It is the second lowest monthly total for the SCE since it began in June 2013.

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.

Balances went up across most categories, led by a $39 billion increase in mortgage debt to a total of $8.2 trillion. Student loan debt—a commonly cited obstacle for recent college graduates interested in owning a home—followed closely, increasing $31 billion to a total of $1.2 trillion.