Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
U.S. Household Debt Falls $13.5B In July
WEST CHESTER, Pa. (8/21/13)--Outstanding U.S. household debt declined $13.5 billion in July from June, according to CreditForecast.com.
 
The drop, down to $10.96 trillion last month, was caused by decreases in first-mortgage balances, said CreditForcast.com, a company that provides history and forecasts for a wide range of household credit, economic and demographic variables at a detailed level of geography (Equifax and Moody's Analytics Aug. 20).
 
Despite month-to-month fluctuations, outstanding debt has remained basically unchanged during the past year, increasing 0.4% since July 2012.
 
Also, the national delinquency rate climbed to 4.64% in July from 4.55% in June because of deterioration in auto loans, bankcard, mortgage and student-loan portfolios.
 
However, despite the deterioration, mortgage portfolios continue healing, said CreditForecast.com. The percentage of mortgages that were either delinquent by at least 120 days or in foreclosure dropped to 3.6%--the lowest level since October 2008, CreditForecast.com said.
 
The primary threat to a recovery in the consumer credit markets would be a rapid increase in interest rates, the company said.
RSS





print
News Now LiveWire
'Fixing Your Finances' part of @PCUA's #iBelong campaign http://t.co/7j6HO1njog @fox43 @Bellco_CU @Members1stFCU
1 hour ago
Home prices outpacing income growth in 3/4 of U.S. markets @RealtyTrac http://t.co/BQR1w4k822
4 hours ago
Refinance #MarchMadness: Refis drive up mid-March mortgage apps: MBA http://t.co/rTUnlJB516
7 hours ago
UK to invest in #creditunion services for military members http://t.co/iIaBT8vuJW
7 hours ago
Read about @cumagazine's third #creditunion hero http://t.co/SROZMgc0I7
8 hours ago