U.S. Consumer Debt Rises Overall, Housing Debt Drops

According to the latest quarterly debt monitoring report, the actual per capita consumer debt in the US increased in the fourth quarter but the mortgage debt reduction continued to reduce the overall expansion of consumer finance.

Lowell Ricketts, a chief analyst at the Federal Reserve Bank of Federal Reserve Bank of St. Louis, revealed a 0.4 percent increase in per capita real consumer debt in the fourth quarter. 1

Consumer debt per capita increased in the fourth quarter, but growth continued from a narrow range of debt

"If there is no contribution of freshmen and car debt over the past few years, the leverage may be continued after the Great Depression," Ricketts wrote.

US consumers continue to reduce housing-related debt burdens. Housing loan debt per capita decreased by 0.9% in the fourth quarter, while housing collateral borrowing fell by 0%.

At the same time, consumers do not seem to have big problems in repaying mortgages. The serious delinquency rate of mortgage debt in the fourth quarter declined 0.5 points

Ricketts also investigated the debt levels of the four federal metropolitan areas (MSA).

St. Louis' per capita consumer debt in the fourth quarter remained unchanged, the number of Louisville Kentucky decreased by 5%, that of Memphis, Tennessee decreased by 0.8%. All three MSA cars, credit cards and student loans are increasing, but overall lending has not increased as the debt of the mortgage has decreased

Only consumers in Little Rock, Arkansas saw the debt level rising. There, the total per capita liability in the fourth quarter increased by 5%. Small lock mortgage debt reduction is less than the other three MSA reductions

1 Actual per capita debt level fluctuations and serious delinquency rate are the same as the same period of the previous year.

2 A strict default rate is defined as the proportion of debt outstanding that is past 90 days past. Please refer to the appendix on quarterly debt monitoring.

3 The eighth district is headquartered in St. Louis, including parts of Arkansas and Illinois, Indiana, Kentucky, Mississippi, Missouri, Tennessee.

Public at finance, housing | Lowell Ricketz, family financial stability center, HFS, consumer debt, consumer credit, mortgage debt, car loan, student loan marked

No According to data released by the Federal Reserve Bank of New York on Tuesday, the total consumer debt of 11.52 trillion dollars is higher than that since 2011. Even more troubling is that the debt is rapidly increasing. US debt including mortgage loans, auto loans, student loans and credit card debt increased by 1% in the second half of 2013 to $ 241 billion, the largest increase since the third quarter of 2007. Fall into a recession. At the individual level, many Americans are in an unstable fiscal situation. According to a survey released Tuesday by the financial regulatory agency Bankrate.com, 28% of Americans today have more credit card debt than the savings fund. This means that even if a quarter of Americans try to repay debt using savings, they can not do that.

It still constitutes our largest total debt, but since the United States fell into a housing crisis in 2008, the mortgage debt actually decreased by 5.5%. Auto loans increased by 39%, credit card debt was even lower than in 2008. Our debts (except mortgages) will exceed $ 4 trillion by the end of the year. Student loans now account for 42% of total consumer debt and credit card obligations account for 27%. In the past 10 years, credit card and student loan debt ratio is traded, student loan debt occupies 27%, credit card debt occupies 40%. This shows a shift in the focus of the American loan

St. Louis' per capita consumer debt in the fourth quarter remained unchanged, the number of Louisville Kentucky decreased by 5%, that of Memphis, Tennessee decreased by 0.8%. All three MSA cars, credit cards and student loans are increasing, but overall lending has not increased as the debt of the mortgage has decreased