Article summarizing the findings of quarterly report by the Fed which covers household debit and credit. Article can be found here.
I found many of these stats surprising, especially when considering the widely quoted fact that our savings rate has climbed (albeit, only due to huge write-offs of toxic debt by big banks).
Halfway through this year, 11.4 percent of outstanding consumer debt was delinquent, up slightly from 11.2 percent a year earlier. An astonishing $1.3 trillion of consumer debt is delinquent, with $986 billion seriously so — 90 days late and counting. While delinquent balances are down by about 3 percent from the same period last year, serious delinquencies are up a bit more — 3.1 percent.
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