Despite media coverage of the possibility, Deloitte clarified Tuesday that housing giants Freddie Mac and Fannie Mae were not affected by the companies September 25 data breach.
Read More »Freddie Mac Drops Billion-Dollar Suit Against Deloitte
Freddie Mac has dropped its lawsuit against Deloitte & Touche that accused the accounting firm of negligence regarding the auditing of certain mortgage loans the GSE purchased from now-defunct mortgage lender Taylor Bean & Whitaker.
Read More »Consumer Spending Indicator Drops in October
Deloitte's Consumer Spending Index, a gauge of cash flow as a measure of future spending, came in at 4.1 in the firm's October reading, down from 4.4 in September. The biggest contribution to October's decline was new home prices, which fell 9.8 percent month-over-month to a median $109,000.
Read More »Consumer Spending Measure Improves in September
Deloitte released Thursday the results of its latest monthly Consumer Spending Index, which climbed in September to 4.21 from an August reading of 4.11. The index tracks consumer cash flow through a handful of measures—tax burden, initial unemployment claims, real wages, and new home prices—as an indicator of future consumer spending.
Read More »Consumer Spending Gauge Perks Up After March Drop
In its most recent monthly release, Deloitte reported a slight rise in its Consumer Spending Index, which measured 3.88 as of the end of the month. Daniel Bachman, senior U.S. economist for Deloitte, said the improvement was thanks to April's decrease in initial unemployment claims and a double-digit pickup in real median new home prices.
Read More »Consumer Spending Gauge Takes Hit as Home Prices Slow
The Deloitte Consumer Spending Index, a measure of consumer cash flow as an indicator of future spending, fell from a revised reading of 4.03 in February to 3.51 in March. Despite the drop, Deloitte maintains that conditions remain positive for consumers. “The outlook for consumer spending remains healthy,” said Daniel Bachman, senior U.S. economist for the firm, adding, “The Index declined primarily due to a slower increase in median home prices.”
Read More »Consumer Spending Measure Flat in February
Deloitte’s Consumer Spending Index was largely flat in February, seeing “only a marginal change” amid moderate economic growth, the professional services company reported. The index, which tracks consumer cash flow as an indicator of future spending, edged down slightly to 3.9 from a reading of 4.0 in January. “The fundamentals for consumer spending remain stable,” commented Daniel Bachman, senior U.S. economist for Deloitte.
Read More »Analysts: Short-Term Shaky for Originators, Long-Term Prospects Solid
Though rising mortgage rates and the current supply and demand situation present short-term difficulties for originators, Deloitte says the long-term picture is rosier.
Read More »Consumer Spending Index Inches Up in May
Improvements in housing and labor lifted Deloitte's Consumer Spending Index for May, the company reported. The index, which comprises four components--tax burden, initial unemployment claims, real wages, and real home prices--rose to a reading of 4.27 from April's 4.12. The index tracks consumer cash flow as an indicator of future spending. Three out of the four components contributed to May's uptick, according to Daniel Bachman, senior U.S. economist for Deloitte.
Read More »Deloitte: Consumer Spending Stays the Course in March
Deloitte's Consumer Spending Index, which tracks consumer cash flow as an indicator of future spending, remained largely on a steady course in March as the economy stabilized. The company reported an index reading of 4.12 for March, down a bit from 4.37 the previous month. While March's reading was a bit of a dip, Deloitte notes the index has remained fairly steady over the past five months, remaining above the 4.0 mark while wages, home prices, and unemployment claims find steadier ground.
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