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NY Fed: Consumer debt up in Q2

Summary

Credit card loans and other nonhousing consumer debt rose, according to the quarterly analysis by the Federal Reserve Bank of New York

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Credit card balances rose $10 billion in the second quarter, the Federal Reserve Bank of New York said in its latest quarterly “Household Debt and Credit Report” released Thursday. Debt on cards continues to lag behind auto loans and student loans.

Delinquent balances for consumer loans fell in the second quarter. Balances on credit cards more than 90 days overdue were 7.8 percent of total balances, down from 8.5 percent in the first quarter.

 

The New York Fed’s Household Debt and Credit Report is based on a sample of anonymous Equifax credit reports, selected to be representative of U.S. households.

See related:Consumer debt market shows signs of ‘healing’

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Credit Card Rate Report Updated: April 1st, 2020
Business
14.07%
Airline
15.85%
Cash Back
16.16%
Reward
16.06%
Student
15.87%

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