Household Debt and Credit

Household Debt Steps Up, Delinquencies Drop
May 24, 2016

Research Event

Workshop on Subjective Expectations May 12-13, 2016

A conference sponsored jointly by the New York Fed and the ESRC Research Centre on Micro-Social Change puts the focus on research analyzing subjective expectations. The papers presented will cover issues related to measurement, expectation formation, learning, use of expectations in structural models, belief biases, and the relationship between expectations and behavior. Northwestern’s Charles Manski and Harvard’s Matthew Rabin will lead plenary sessions. Link to the agenda for more information and many of the papers.

Survey of Consumer Expectations

Survey of Consumer Expectations — April 2016 May 9, 2016

The April 2016 Survey of Consumer Expectations results show an increase in income and spending growth expectations. At the same time, labor market expectations deteriorated slightly, with the mean perceived probability of finding a job declining and the mean perceived probability of losing a job increasing. Inflation expectations increased but remain relatively low.

Consumers' Income Growth Expectations Strengthen, Labor Market Expectations Weaken Slightly
May 9, 2016

Survey of Consumer Expectations

SCE Credit Access — February 2016 March 23, 2016

The SCE Credit Access Survey shows slightly higher application rates compared to the October 2015 release, while the proportion of "discouraged" respondents decreased. Reported rejection rates marginally increased overall, reflecting an increase in credit card application rejections, while rejection rates for other credit types fell. These changes in the application, rejection and discouraged borrower rates were driven primarily by the experiences of younger respondents. The expectations component of the survey generally points to an overall increase in the likelihood of applying for credit, especially for credit cards and auto loans, and a lower likelihood of applying for a mortgage. Respondents are more optimistic about credit card and auto loan applications being approved, while they are more pessimistic about mortgage approvals.

(Current and Future) Demand for credit increases for younger consumers
March 23, 2016

Survey of Consumer Expectations

Housing Survey — 2015May 28, 2015

The 2015 SCE Housing Survey indicates that attitudes toward housing as a financial investment remain decidedly positive. U.S. households on average expect home price growth to continue at a 4.4 percent pace over the next year, comparable to the average year-ahead expectation reported in last year’s survey. Survey respondents expect mortgage rates to increase in coming years, but at a moderate pace. Among homeowners, the expressed likelihood of investing in improvements to the home has declined somewhat relative to last year. Most renters report that they would rather own than rent if they had the necessary financial resources; as in last year’s survey, a majority of them believe that it would be difficult to obtain a mortgage, although responses suggest a slight easing in perceived credit access. (This report is in pdf format.)

SCE Housing Survey 2015PDF | Chart PacketPDF

The Center for
Microeconomic Data

The Center for Microeconomic Data serves to centralize the collection, acquisition, and analysis of microeconomic data at the New York Fed and act as a catalyst for microeconomic research by promoting engagement with the wide academic community. The wide-ranging data, research, and analysis produced in the Center provide insight into individual-level financial and nonfinancial economic conditions, expectations, and behavior in the U.S.
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