Eye On Housing
The current G.19 Federal Reserve Consumer Credit report has been updated to show the preliminary figures for February 2019 consumer credit. In February, consumer credit increased at a seasonally adjusted annual rate of 4.5%. Revolving1 credit increased at an annual rate of 3.3%, while nonrevolving2 credit increased at an annual rate of 5%. In the previous month, nonrevolving debt grew… Read More ›
Tag Archive for ‘consumer credit’
Top Challenges for Builders: Materials in 2018, Labor in 2019
Building material prices topped the list of problems builders faced in 2018, but cost and availability of labor is expected to return to the number one spot in 2019, according to special questions on the January survey for the NAHB/Wells Fargo Housing Market Index. The survey results showed that material prices were a significant issue for 87% of builders last… Read More ›
Consumer Credit Increases in January 2019
On a seasonally adjusted, annual basis, the latest data from the Federal Reserve Board’s G.19 Consumer Credit report show that all non-mortgage consumer credit, increased at 5% in January 2019 from the previous month, of which revolving1 and nonrevolving debt2 increased 2.9% and 5.9%, respectively. As of January 2019, consumer credit totaled $4.0 trillion, $1.1 trillion of which was revolving… Read More ›
Interest Rates on Consumer Credit Increase by the End of 2018
The latest data from the Federal Reserve Board’s G.19 Consumer Credit report show that all non-mortgage consumer credit, i.e., excluding loans secured by real estate, increased 5.0% in December, with revolving and nonrevolving credit increasing 2.0% and 6.0%, respectively. The current outstanding levels of debt, on a seasonally adjusted basis, are $1.04 trillion for revolving debt and $2.97 trillion for… Read More ›
Student Loans Crowding Out Home Purchases
Student and auto loans have historically dominated non-mortgage, non-revolving credit, as seen in the Federal Reserve’s G.19 Consumer Credit report. As of the third quarter of 2018, student loan debt totaled $1.6 trillion. As student-loan debt has historically made up the majority of non-mortgage, non-revolving credit, homeownership is the opportunity cost for its accumulation. In January 2019, as part of its… Read More ›
Student and Auto Loans Dominate Non-Mortgage Debt
Preliminary consumer credit data for November 2018 released by the Federal Reserve Board’s G.19 Consumer Credit report, which exclude loans secured by real estate, indicate an increase in outstanding credit of about 6.75% (seasonally-adjusted annual rate) from the previous month. Revolving credit increased at an annual rate of 5.50%, while nonrevolving credit increased at an annual rate of 7.00%. Revolving… Read More ›
Non-Revolving Debt Drives Consumer Credit Growth
Preliminary consumer credit data for October 2018 released by the Federal Reserve Board’s G.19 Consumer Credit report indicate an increase in outstanding credit of about 7.75% (SAAR) during the third quarter. Revolving credit increased at an annual rate of 10.75%, while nonrevolving credit increased at an annual rate of 6.75%. Revolving credit plans, which is largely composed of credit card… Read More ›
Homeowners’ Equity Expanding
The Financial Accounts of the United States for the fourth quarter of 2017 were released by the Board of Governors of the Federal Reserve System recently. In the fourth of 2017, the aggregate market value of households’ real estate continues to improve on a nominal and not seasonally adjusted basis. On a nominal and not seasonally adjusted basis, households’ owner-occupied… Read More ›
Consumer Credit Grows but Some Risks Lurk
According to the Federal Reserve Board, consumer credit grew by a seasonally adjusted annual rate of 7.9 percent over the month of November to $3.75 trillion. Revolving credit, which is largely composed of credit cards, grew by 13.5 percent while non-revolving credit, typically student loans and auto loans, rose by 5.9 percent. Although revolving credit grew faster than non-revolving credit… Read More ›
Non-Mortgage Consumer Debt Accelerates
The Federal Reserve Board reported that consumer credit outstanding grew by a seasonally adjusted annual rate of 7.0% over the third quarter of 2016, 0.6 percentage point faster than the 6.4% rate of growth in the second quarter. There is now $3.71 trillion in outstanding consumer credit. Growth in the outstanding amount of consumer credit overall reflected an increase in both revolving and non-revolving… Read More ›