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Tag Archives: New York Fed

Home Price Expectations Down Slightly

Over the next 12 months, Americans expect median home prices to rise 3.87 percent, according to the latest data from the Federal Reserve Bank of New York. That figure is down slightly from the New York Fed's June survey, marking the second consecutive month of declining price change expectations. The decline is in line with Fannie Mae's most recent National Housing Survey, which showed a decline in expected price growth to 2.3 percent.

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Consumer Hopes Lift in June

The Federal Reserve Bank of New York released Monday the findings of its June 2014 Survey of Consumer Expectations (SCE), revealing a slight uptick in economic hopes among Americans as housing expectations remained flat. On the housing front, the median home price change expectation was little changed, dipping slightly to a median expected 3.9 percent over the next 12 months.

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Household Debt Rises, but New Mortgages Drag

The New York Fed recorded an increase of $129 billion in national outstanding household debt in the first three months of the year, bringing the total debt level up to $11.65 trillion. Leading the increase was a rise in mortgage debt, which was up by $116 billion from the end of 2013, according to the bank. However, with originations dropping to $332 billion—the lowest level since the housing recovery started—there was little to celebrate on that front.

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Consumer Home Price Expectations Down Again

A survey of consumer expectations released by the Federal Reserve Bank of New York finds home price change expectations are down once again, with projected growth over the next 12 months forecast at 3.77 percent. It was the third straight monthly decline.

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Consumers Dial Back Home Price Expectations

The latest Survey of Consumer Expectations from the Federal Reserve Bank of New York shows home price change expectations have declined slightly, falling to a projected 3.8 percent for the year ahead—the lowest level seen since October last year. The Fed found that the pattern did not hold in the West, where home prices are expected to continue at an even stronger pace.

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Consumer Expectations Stay Steady in February

According to responses in the New York Fed's most recent Survey of Consumer Expectations (SCE), consumers last month indicated a median home price change expectation of 4.0 percent, reversing an increase to 4.6 percent in January. Price change expectations hovered around 4.5 percent for much of last year's second half, coming down only when national reports indicated a slowdown.

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Report: Borrowing Up Among Younger Consumers

The Federal Reserve Bank of New York revealed Tuesday that aggregate consumer debt rose in 2013's final quarter, citing an increase of $241 billion dollars. The figure represents the largest quarter-to-quarter increase since 2007. The report commented, "All groups, even those with subprime credit scores, increased their mortgage balances in 2006. Now, the modest mortgage balance increases we see are mainly coming from high credit score borrowers."

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Consumer Debt Increases in Q4 2012, Mortgage Debt Flat

Mortgage debt for U.S. households was roughly unchanged quarter-over-quarter, according to the Federal Reserve Bank of New York's Household Debt and Credit report. Mortgage debt stood at $8.03 trillion in Q4, making up the largest component of household debt. At the same time, overall consumer debt increased by $31 billion to $11.34 trillion, a slight 0.3 percent increase from the third quarter. Despite the growth, the report noted consumer debt has still seen a significant decline after peaking at $12.68 trillion.

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