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Household Debt Falls for 1st Time Since 2014, But Mortgages Rise

Thursday, Aug 13 2020
Lending
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While mortgage loans kept increasing in the second quarter, overall household debt dropped for the first time since 2014 amid the coronavirus pandemic. So reports Bloomberg.

According to the Federal Reserve Bank of New York, total debt was $14.27 trillion in the second three months of the year, compared with $14.3 trillion in the previous quarter.

Second-quarter mortgage debt was $9.78 trillion, an increase of $63 billion.

Read the full article from Bloomberg. 

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