Mortgage originations fell to $498B, returning to pre-pandemic levels.
Tagged: Federal Reserve Bank of New York
Consumers also more optimistic that household income will grow.
Mortgage refinance application rates plunged from 21.4% in October 2021 to 8.9% in October 2022.
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System.
Total household debt in the quarter increased 2.2% to $16.51 trillion.
Federal Reserve Bank of NY’s Center for Microeconomic Data survey reveals short-term inflation expectations increased among those surveyed.
Survey finds consumers have adjusted their expectations slightly downward on overall inflation.
Average perceived likelihood of an increase in housing assistance and affordable housing over the next 12 months declined to 37% in April 2022, from a peak of 52% in August 2021.