Americans more successful, confident seeking credit: Fed survey

Reuters News
Posted: Jul 14, 2015 11:32 AM

NEW YORK (Reuters) - Americans were more active and successful in securing credit over the last 12 months, and were more likely to seek loans over the coming year, according to a Federal Reserve Bank of New York survey published on Tuesday.

The web-based survey, done every four months, found that successful credit applications reached a new high in the nearly two-year old data set, while shares of rejected applicants and discouraged Americans fell to record lows.

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Rejection rates per applicant was 19 percent, from 25 percent previously, for mortgages, auto loans and higher credit card limits.

(Reporting by Jonathan Spicer; Editing by Chizu Nomiyama)