The share of household debt to disposable income remained well below the historical average in the third quarter of 2020, despite debt inching up 0.56% and disposable income declining 3.3% as federal stimulus payments tapered off.
Household debt rose by 0.6% in the third quarter of 2020, rising by $87 billion to land at $14.35 trillion, the Federal Reserve Bank of New York reported today.
As consumer spending and credit card purchases plummeted in the second quarter, the share of U.S. cardholders that paid their credit card balance in full reached record levels, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
Outstanding household debt dipped by 0.2% in the second quarter of 2020, falling by $34 billion to land at $14.27 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt increased by 1.4% in the fourth quarter of 2019, rising by $193 billion to land at $14.15 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt increased by 0.7% in the third quarter of 2019, rising by $92 billion to land at $13.95 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt increased by 1.4% in the second quarter of 2019, rising by $192 billion to land at $13.86 trillion, the Federal Reserve Bank of New York reported today.
Outstanding household debt increased by 0.9% in the first quarter of 2019, rising by $124 billion to land at $13.67 trillion, the Federal Reserve Bank of New York reported today.
The good news is that both borrowers and lenders continue to exercise discipline and consumers are still in very strong financial shape.
Outstanding household debt increased by 0.2 percent in the fourth quarter of 2018, rising by $32 billion to land at $13.54 trillion, the Federal Reserve Bank of New York reported today.