Eye On Housing
Data released by the Federal Reserve Board indicates that consumer credit outstanding expanded over the month of July. On a seasonally adjusted annual rate basis, total consumer credit, which excludes housing related credit such as mortgages and home equity lines of credit, rose by 10%, $312 billion, over the month. Non-revolving credit outstanding, largely composed of auto loans and student… Read More ›
Consumer debt is gaining steam. Consumer credit grew by $62 billion in the second quarter of this year (seasonally adjusted), the most in three-and-a-half years. Most of the increase was in non-revolving credit ($50 billion) while revolving debt rose by $12 billion. In addition, automobile loans increased $25 billion (not seasonally adjusted), the most since the third quarter of 2013,… Read More ›
Consumer credit (excluding mortgages) in the first quarter of 2014 was up 25 percent from its low set in the second quarter of 2010, according to the Federal Reserve Board. Among the components, student loans are 45 percent higher, car loans gained 26 percent and credit cards are up 5 percent. Car lending has rebounded over the few past years… Read More ›
The Federal Reserve Bank of New York recently reported that aggregate consumer debt, which includes mortgages, rose by 1.1% or $129 billion over the first quarter of 2014. There is now an estimated $11.7 trillion in aggregate consumer debt outstanding. Total consumer indebtedness has now risen for 3 consecutive quarters; however, it still remains 8.1% below its peak of $12.7… Read More ›
The Federal Reserve Board recently reported that growth in consumer credit outstanding decelerated in January 2014. Total consumer credit outstanding rose by 5.3% on a month-over-month seasonally adjusted basis, but the January growth rate was 0.9 percentage points less than the 6.2% growth rate that took place in December. There is now $3.1 trillion in total consumer credit outstanding. The… Read More ›
Data released by the Federal Reserve Bank of New York shows that aggregate consumer debt increased in the fourth quarter of 2013 by 2.1%, or $241 billion, from its level in the third quarter of 2013. According to the release, household debt now totals $11.5 trillion. This is the largest quarter-over-quarter increase seen since the third quarter of 2007. Over… Read More ›
Recently released data from the Federal Reserve Board shows that seasonally adjusted consumer credit outstanding rose by 7.25% in December 2013 to $3.1 trillion. Revolving credit, which is composed of credit cards, grew by 7.0% while non-revolving credit, largely composed by student loans and auto loans, increased by 7.4%. Over the year of 2013, growth in consumer credit accelerated by… Read More ›
Data released by the Federal Reserve Board indicates that consumer credit outstanding rose at a seasonally adjusted annual rate of 4.8% in November. The amount of consumer credit outstanding now totals $3.1 trillion. The November expansion of consumer credit outstanding mostly reflects a 6.4% increase in non-revolving debt. Non-revolving debt outstanding, which is largely composed of student loan and auto… Read More ›
Recently released data from the Federal Reserve Board indicates that consumer credit outstanding is continuing to expand. According to the release, total consumer credit outstanding increased at a seasonally adjusted rate of 5.4% in September. For the quarter overall, consumer credit rose by 5.2%. The September increase in consumer credit reflected an 8.7% increase in non-revolving credit, which encompasses student… Read More ›
Data from the Federal Reserve Board indicates that consumer credit continues to expand. According to the most recent release, the total amount of consumer credit outstanding rose by an annual rate of 5.4% in August to $3.0 trillion. In July, consumer credit rose by 4.1%. The acceleration in consumer credit outstanding partly reflects a higher rate of growth in non-revolving… Read More ›