New York Fed survey: consumers are finding it easier to obtain auto loans or mortgage refinancing

The latest credit data released by the New York Federal Reserve Bank shows that in June, it was slightly easier for American households to apply for mortgage refinancing or car loans. The bank said on Monday that the rejection rate for mortgage refinancing applications in June dropped to 15%, compared to reaching 42% in February, the highest since the fall of 2013. The rejection rate for car loans also decreased from 14% in February to 7% in June, but the decrease was smaller. The New York Fed stated that overall credit applications and rejection rates have remained stable over the past year. These results come from the New York Fed's Consumer Expectations Survey, where the inflation expectations and consumer sentiment readings are closely monitored.