A surge in credit card spending and home purchases caused US household debt to increase by $313 billion, or 2.1%, in the second quarter, according to the Federal Reserve Bank of New York.
That's the largest nominal jump since 2007 and the biggest percentage increase in seven and a half years.In total, American consumers held $14.96 trillion in debt at the end of June — the biggest pile of bills on record and $812 billion more than what was owed at the end of 2019, before the pandemic hit.Credit card balances rose by $17 billion in the second quarter, but they still remain $140 billion below levels at the end of 2019. Auto loan balances increased by $33 billion.
But even though the US housing market is red hot and borrowing to purchase homes is through the roof,"there are still 2 million borrowers in mortgage forbearance who are vulnerable to financial distress once the forbearance programs come to an end," said Joelle Scally administrator of the Center of Microeconomic Data at the New York Fed.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. cases and deaths from COVID-19 rise, so do vaccinations -U.S. officialsCases of COVID-19, along with hospitalizations and deaths from it, have increased in the last week, U.S. officials said on Monday, even as vaccination rates grow amid concern over the highly contagious Delta variant.
Leer más »
WSJ News Exclusive | U.S. Says It Has Shared 110 Million Covid-19 Vaccine Doses OverseasThe U.S. has shared more than 110 million Covid-19 vaccine doses overseas, the White House said, following regulatory and logistical setbacks
Leer más »
Coronavirus update: Latest Covid-19 vaccine and US reopening newsThe Delta variant is wreaking havoc through much of the US, and an internal CDC document shows it spreads as easily as chickenpox. Follow here for the latest news.
Leer más »
WSJ News Exclusive | Two U.S. Companies Seek Continued Tariffs on Imported Solar PanelsAuxin Solar and Suniva plan to ask the U.S. International Trade Commission to extend the solar tariffs for four years, reigniting a fight that has split the industry—and could force the White House to choose sides.
Leer más »
White House celebrates US reaching 70% of US adults getting at least one Covid-19 vaccine shotThe US Centers for Disease Control and Prevention reported on Monday that 70% of US adults have received at least one Covid-19 vaccination shot, reaching President Joe Biden's July Fourth goal about one month late.
Leer más »
Tyson Foods to Require Covid-19 Vaccines for All U.S. WorkersThe meat giant, which would offer a $200 bonus to its front-line workers as an incentive, is aiming for total vaccination of its employees by Nov. 1. The company’s target is partly subject to discussions with labor unions.
Leer más »