Household Debt Rises by $313 Billion in Second Quarter
Total household debt increased 2.1% in the second quarter of 2021, rising by $313 billion to land at $14.96 trillion, the Federal Reserve Bank of New York reported today.
Total household debt increased 2.1% in the second quarter of 2021, rising by $313 billion to land at $14.96 trillion, the Federal Reserve Bank of New York reported today.
As the small business recovery took off in the second quarter, a substantially larger share of banks reported easing standards for business loans, continuing the easing trend seen in the first quarter of 2021, according to the senior loan officer opinion survey released by the Federal Reserve today.
Credit applications have largely rebounded to their pre-pandemic levels after a significant drop during the crisis, though there was substantial variation in the path to recovery for different credit types, according to a new research brief from the Consumer Financial Protection Bureau today.
Bank lending is not keeping up with deposit growth. Here’s why.
While delinquency rates and other indicators of consumer financial stress may rise as COVID-19 support programs are phased out, most consumers appear to be in good financial shape.
Consumer credit delinquencies declined in the first quarter of 2021—following a rise the prior quarter—as the economy rebounded strongly, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
Rising home prices in many U.S. markets appear to have pushed up demand for—and banks’ offering of—jumbo mortgage loans, according to the Federal Reserve’s senior loan officer survey released today.
Consumer credit delinquencies rose in the fourth quarter of 2020, following two consecutive quarters of declines, as the pandemic-induced recession weighed on the economy, according to ABA’s Consumer Credit Delinquency Bulletin released today.
Banks can become less reliant on third-party lead aggregators and reduce their cost of acquisition by better using what they already know.
Loan demand and standards for lending continued to stabilize in the fourth quarter of 2020 after the economic freefall caused by the COVID-19 pandemic in the second quarter.