Tag Archive for ‘student loans’

Consumer Debt Grows at Slowest Pace Since 2020

Consumer credit outstanding growth slowed to 0.4% in the third quarter of 2023 (SAAR) according to the Federal Reserve’s latest G.19 Consumer Credit report, as revolving debt grew 8.6% and nonrevolving debt declined 2.4%. On a monthly basis, revolving credit outstanding increased just 3.0% in September after surging 14.6% in August (SAAR). Total consumer credit outstanding stands at $4.98 trillion… Read More ›

Revolving Consumer Credit Growth Remains Near 25-Year High

Consumer credit outstanding grew at a seasonal adjusted annual rate of 5.7% in April 2023 per the Federal Reserve’s latest G.19 Consumer Credit report, as revolving and nonrevolving debt grew at 13.1% and 3.2%, respectively (SAAR). Total consumer credit outstanding stands at $4.8 trillion (not seasonally adjusted), with $1.2 trillion in revolving debt and $3.6 trillion in non-revolving debt (NSA). The… Read More ›

Consumer Credit Growth Slows in Q1 2023

According to the Federal Reserve’s latest G.19 Consumer Credit report, the growth of total consumer credit outstanding slowed from 7.4% to 5.4% (seasonally adjusted annual rate) in the first quarter of 2023. Nonrevolving (excluding real estate debt) and revolving debt grew 3.1% and 12.3%, respectively, over the quarter. On an unadjusted basis, the level of nonevolving credit outstanding at the end… Read More ›

Growth of Revolving Debt Slows, Auto Loan Rates Spike in Q4 2022

The balance of consumer credit outstanding grew 6.5% in the fourth quarter of 2022 (seasonal adjusted annual rate) after climbing 6.7% (SAAR) in the third quarter according to the Federal Reserve’s latest G.19 Consumer Credit report.  Revolving debt—which consists primarily of credit card debt—increased at a 12.0% rate, as the level of nonrevolving debt (excluding real estate) grew 4.8% (SAAR). Total… Read More ›

Total Consumer Credit in May Decreases

The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through May 2020. In May, consumer credit decreased at a seasonally adjusted annual rate of 5.3% from the previous month, with revolving debt1 decreasing by 28.6% and nonrevolving debt2 increasing by 2.3 percent. Consumer credit totaled $4.1 trillion on a seasonally… Read More ›

Consumer Credit Posts Small Gains in First Quarter

The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through March 2020. In March, consumer credit decreased at a seasonally adjusted annual rate of 3.4% from the previous month, with revolving debt1 decreasing by 30.9% and nonrevolving debt2 increasing by 6.2 percent. Consumer credit totaled $4.2 trillion on a… Read More ›

Consumer Credit Continues to Expand

The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through November 2019. In November, consumer credit increased at a seasonally adjusted annual rate of 3.6 percent from the previous month, with revolving debt1 decreasing by 2.7 percent and non-revolving debt2 increasing by 5.8 percent. Consumer credit totaled $4.2 trillion… Read More ›

Revolving Debt Increases Significantly in Latest Consumer Credit Report

The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through July 2019. In July, consumer credit increased at a seasonally adjusted annual rate of 7 percent, the largest monthly percentage gain in its category in a year. Consumer credit totaled $4.1 trillion on a seasonally adjusted basis, with $1.1… 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 ›

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 ›