Confidence surveys suggest consumer borrowing might be stabilizing as the economy shows signs of recovery, but it remains unlikely to increase in the short run, according to a Moody's Analytics conference call on the outlook for consumer finance.

“According to confidence surveys…consumers aren't yet ready to do much more” in terms of borrowing or saving, said Cristian deRitis, a director at Moody's Analytics who also has worked for Fannie Mae.

He noted that consumer attitudes continue to be shaped by the unemployment rate. While the jobs situation is improving slowly, unemployment remains relatively high, the Moody's director noted.

There is frustration on the part of consumers who haven't been able to refinance their mortgages — and many are still haunted by the loss of wealth in the housing and stock markets, he said.


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