Consumer Finance

Our Consumer Finance Institute researches how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy. Our goal is to foster a healthy consumer sector, a stable financial system, and a resilient regional and national economy.

Mortgage Markets

Working Paper

Paying Too Much? Borrower Sophistication and Overpayment in the U.S. Mortgage Market

WP 24-11 – Comparing mortgage rates that borrowers obtain to rates that lenders could offer for the same loan, the authors find that many homeowners significantly overpay for their mortgage, with overpayment varying across borrower types and with market interest rates.

Labor, Income, Finances, and Expectations (LIFE) Survey

The Labor, Income, Finances, and Expectations (LIFE) Survey collects data on topics related to the Consumer Finance Institute’s mission to better understand how people earn, spend, save, and invest, as well as how credit markets and payment systems affect the economy.

Event

Oct

24-25

2024

Workshop on Changing Demographics and Housing Demand

Washington, D.C.

Man sitting on a sofa looking at a cell phone in one hand and holding a credit card in another.

Secured Card Market Update

The secured credit card market has undergone a number of recent changes. In this special report, we update previous research by the Consumer Finance Institute on secured cards using data from the country’s largest financial institutions.

CFI in Focus: Large Bank Credit Card and Mortgage Data: A Tale of Two Portfolios

CFI in Focus – In July 2022, the Federal Reserve Bank of Philadelphia began publishing a new quarterly series of large bank credit card and mortgage data, also known as Public Y-14 data. The data come from regulatory reporting that the largest banks in the country are required to submit, based on asset and portfolio thresholds.

A close-up shot of a man reviewing paperwork.

Consumer Credit

Working Paper

Bankruptcy Lawyers and Credit Recovery

WP 24-10 – The author studies how bankruptcy law firm advertisements affect credit recovery of households in financial distress.

A woman reviews paperwork at the kitchen table.

LIFE Survey Report – January 2024

This report is the first in a quarterly series on key observations from the Labor, Income, Finances, and Expectations (LIFE) Survey. Data from the survey provide insight into consumers’ recent financial lives and their future expectations.