The Federal Reserve said that consumer credit grew by 5% in May, about the same rate as in April.
Credit card and other revolving debt led the way at 8.2%, expanding solidly for a second straight month after declining in March.
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Navigating the Unchartered Waters: Rising Interest Rates in Mortgage Lending Explore how rising interest rates are affecting mortgage lending and homebuyer affordability in the current market.
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Consumer Borrowing Climbs for Second Month in a Row
The amount of outstanding consumer credit rose steadily for a second consecutive month, a positive sign for U.S. economic growth. So reports MarketWatch.
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