NY Fed: Total household debt increased by $82 billion (0.6%) in Q2

Eren Sengezer FXStreet

"Total household debt increased by $82 billion (0.6%) to $13.29 trillion in the second quarter of 2018," The Federal Reserve Bank of Ne York announced in its report titled 'Quarterly Report on Household Debt and Credit.'

Key quotes

Overall household debt is now 19.2% above the post-financial-crisis trough reached during the second quarter of 2013.
Mortgage balances—the largest component of household debt—rose by $60 billion during the second quarter, to $9.00 trillion.
The number of credit inquiries within the past six months—an indicator of consumer credit demand—was roughly unchanged, and remains among the lowest levels seen in the history of the data.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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