After the refinancing boom: will consumers scale back their spending?

Alexander Al-Haschimi, Margaret M. McConnell and Richard Peach ()

Current Issues in Economics and Finance, 2003, vol. 9, issue Dec

Abstract: Concerns are rising that the recent surge in home equity withdrawal has left consumers in a weakened financial position that will, over time, prompt a retrenchment in spending. However, a look at household assets and liabilities suggests that consumers have used the withdrawn funds to restructure their balance sheets and reduce their debt service burden. As a result, households may be in a better position to spend in the years ahead.

Keywords: Consumer behavior; Consumer credit; Home equity loans (search for similar items in EconPapers)
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci9-12.pdf (application/pdf)
https://www.newyorkfed.org/medialibrary/media/rese ... t_issues/ci9-12.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednci:y:2003:i:dec:n:v.9no.12

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Current Issues in Economics and Finance from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().