by Calculated Risk on 5/01/2006 11:59:00 PM

Homeowners continued to borrow substantially against their homes in Q1 2006 according to the BEA. Hence the strong increase in Personal Consumption Expenditures (PCE) and GDP in Q1 ... and the negative savings rate.

For some graphs, see my post on Angry Bear: GDP and Mortgage Interest

I will calculate Mortgage Equity Withdrawal (MEW) when the FED's Flow of Funds reports is released in June.