Consumer Debt Hits 4 Trillion

Consumer Debt Hits 4 Trillion Americans are diving deeper and deeper into the red. as of this month, outstanding consumer debt exceeded $4 trillion for the first time, according to the federal reserve. relatively strong. Edited by anne marie lee. updated on: august 6, 2024 4:52 pm edt cbs news. u.s. consumers collectively owe a record $1.14 trillion in credit card debt, figures released tuesday by the federal.

Consumer Debt Just Hit 4 Trillion Bit Rebels The report shows total household debt increased by $184 billion (1.1%) in the first quarter of 2024, to $17.69 trillion. the report is based on data from the new york fed’s nationally representative consumer credit panel. Total household debt rose by $109 billion to reach $17.80 trillion, according to the latest quarterly report on household debt and credit. mortgage balances were up $77 billion to reach $12.52 trillion, while auto loans increased by $10 billion to reach $1.63 trillion and credit card balances increased by $27 billion to reach $1.14 trillion. Household debt balances set a fresh record high of $17.05 trillion during the first quarter, growing $148 billion or 0.9% from the fourth quarter of last year, the federal reserve bank of new york. Key points. consumer debt across all categories totaled $16.9 trillion, up about $1.3 trillion from a year ago as balances rose across all major categories. mortgages, auto loans and credit card.

Consumer Debt Just Hit 4 Trillion Bit Rebels Household debt balances set a fresh record high of $17.05 trillion during the first quarter, growing $148 billion or 0.9% from the fourth quarter of last year, the federal reserve bank of new york. Key points. consumer debt across all categories totaled $16.9 trillion, up about $1.3 trillion from a year ago as balances rose across all major categories. mortgages, auto loans and credit card. The federal reserve said monday that total consumer debt grew by $25.5 billion to a fresh record high of $5.1 trillion in july. that was well ahead of the $12 billion forecasters had expected. Consumer debt hit a record high of $4.82 trillion in february, according to a new report from the federal reserve. but while debt continued to rise last month, it grew more slowly than earlier in.