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Many Saw Cost of Too Little Outweighing Too Much

Many Saw Cost of Too Little Outweighing Too Much
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Home loans drive up household debt


Home loans drive up household debt
by
Bloomberg
|
Today at 2:17 a.m.
U.S. household debt rose at the fastest pace since 2013 in the second quarter, driven by a mortgage boom as Americans took advantage of low borrowing costs and sought more space to work from home.
Household liabilities climbed $313 billion to $14.96 trillion as of the end of June, a 2.1% rise from three months earlier, the Federal Reserve Bank of New York said in a report published Tuesday.
Most of the increase came in mortgage balances. With the average 30-year rate declining in the period, millions of Americans with good credit took the opportunity to refinance and cut their monthly payments. About 44% of the country s entire $10.4 trillion stock of mortgages was originated in the 12 months through June, according to the New York Fed. ....

New York , United States , Joelle Scally , Federal Reserve Bank , Mortgage Bankers Association , Fannie Mae , Microeconomic Data , Mortgage Bankers , July Senior Loan Officer Opinion Survey , York Fed , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ஜொவெல் அளவீடு , கூட்டாட்சியின் இருப்பு வங்கி , அடமானம் வங்கியாளர்கள் சங்கம் , பன்ணிிே மே , அடமானம் வங்கியாளர்கள் , யார்க் ஊட்டி ,