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Household Debt and Credit Report – Household Debt Edges Higher, but Credit Card Balances Fall

“According to the latest Quarterly Report on Household Debt and Credit, total household debt rose by $85 billion (0.6 percent) to reach $14.64 trillion in the first quarter of 2021. Mortgage balances—the largest component of household debt—rose by $117 billion, while auto and student loan balances increased by $8 billion and $29 billion, respectively. Credit card balances declined by $49 billion—the second […]
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U.S. Consumer Credit Surges by the Most Since Late 2017

“U.S. consumer borrowing surged in February by the most since late 2017 as a broader re-opening of the economy from pandemic restrictions helped spark an increase in credit-card balances. Total credit jumped $27.6 billion from the prior month, the largest gain since November 2017, after a revised $94 million January gain, Federal Reserve figures showed […]
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Credit Card Borrowing Falls to Lowest in Level in 4 Years

“Borrowing by Americans fell in January for the first time in five months, as the use of credit cards fell to the lowest level in four years, offsetting gains in auto loans and student loans. The Federal Reserve reported Friday that consumer borrowing fell by $1.3 billion in January, the first setback since a $9 […]