Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago