Household Debt Makes a Comeback in the US

Household Debt Makes a Comeback in the US
Americans' Debt Back at Record High After Nearly a Decade
The Federal Reserve Bank of New York said Wednesday that total household debt had reached a new peak — $12.7 trillion — in the first three months of the year, another milestone in the long, slow recovery of the United States economy. The growing debt 

The total debt held by American households reached a record high in early 2017, exceeding its 2008 peak after years of retrenchment in the face of financial crisis, recession and modest economic growth. The milestone, announced Wednesday by the
In the first quarter of 2017, consumer debt rose to $12.73 trillion. Student loans account for 10.6 percent of that total, up from 3.3 percent in 2003, while housing's share, though still great, has fallen back to 2003 levels. Source: Federal Reserve … . U.S. household debt reached a record high in the first three months of this year, topping the previous peak reached in 2008. Americans have stepped up borrowing over the past three years, yet the nature of what Americans owe has changed since the Great

Americans' Debt Back at Record High After Nearly a Decade

Banks Tighten Auto Lending as More Borrowers Fall Into Default

NEW YORK (Reuters) – Americans' debt level reached a record high this year, surpassing the peak touched just as the worst of the recession was taking hold in 2008, and marking a milestone for households that now lean less on mortgages and more on auto

Lenders are tightening the spigot on new auto loans, making it harder for U.S. consumers with weak credit to buy a car, data from the Federal Reserve Bank of New York show. The most important market news of the day. Get our markets daily newsletter. . Household debt in the US surpassed its pre-crisis peak in the first quarter, exposing some categories of borrowers to financial strain as they try to keep up with their obligations. Sample the FT's top stories for a week. You select the topic, we …

Credit card balances have been rising as total household debt has topped its previous 2008 peak. (Dreamstime / TNS). By Jim PuzzangheraContact Reporter · Housing Market · Real Estate · Federal Reserve. Debt rose $149 billion compared with the last quarter of 2016, with nearly all the gain coming from mortgages. Reaching the peak raises questions about another financial meltdown. But the data show the current structure of debt is substantially …

A homeowner hands paperwork to a bank associate in an attempt to lower her monthly mortgage payment. U.S. household debt has finally hit a new all-time high. (AP Photo/David Goldman, File). Nearly nine years after the collapse of the housing bubble,

U.S. household debt has topped the record level reached in 2008, a milestone for the recovery that shows consumers are borrowing again,. But while the debt doesn't pose the risks that toppled the financial system nine years ago, there are still some …

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