Author Archives: Kerry O'Leary

N.Y. Fed Sees Decline in Credit Rejection Rates

Individuals who have applied for credit reported higher lower rejection rates in February than they reported in October, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that rejection rates dropped to 8.5 percent of those who applied for ...

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FHFA: HARP Refinances Decline as Rates Climb

More than 750,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the fourth quarter, with 13,220 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday. HARP refinances dropped by 2,000 since the prior quarter. Seven percent of third-quarter loans refinanced through HARP had a loan-to-value ratio greater than 125 percent. In Nevada, ...

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Making His Mark

Exciting opportunities set Community Bankers Council Chairman Howard Jaffe on an unexpected course as a hometown bank leader.

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Yellen to Congress: Economic Growth to Continue

Economic growth in the U.S. is picking up pace in the final months of 2016 and will continue growing “over the next couple of years,” Federal Reserve Chairman Janet Yellen told the Joint Economic Committee of Congress today. Yellen emphasized steady unemployment rates and “above-trend job growth” as reasons to expect continued “moderate” economic expansion, an acceleration from the “modest” ...

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Consumers’ Spending Expectations Fall, Income Expectations Continue to Rise

Americans’ expectations for how much more they will spend next year was 3.3 percent in August, falling for the first time since March, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth over the next year grew, however, to 2.8 percent — its highest level since May 2015. Credit ...

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Consumers’ Spending, Income Expectations Continue Upward Trend

Americans’ expectations for how much more they will spend next year was 3.8 percent in July, an increase from 3.6 in June and 3.5 percent in May, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth over the next year also rose, landing at 2.8 percent. Credit availability expectations ...

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N.Y. Fed Sees Record Low Credit Rejection Rates

Individuals who have applied for credit are reporting higher approval rates in June than they reported in February, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that the share of applicants who received credit in the past 12 ...

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