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Household Debt Increases for First Time in Over Three Years
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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Household Debt Increases for First Time in Over Three Years
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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Household Debt Increases for First Time in Over Three Years

November 12, 2012 (Chris Moore)

Total outstanding household debt rose for the first time in 14 quarters during the second quarter of 2012 as Americans continued to take on more consumer debt while still shedding their home mortgage debt according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt increased from a revised $12,905.7 billion in the first quarter of 2012 to $12,945.1 billion in the second quarter, a gain of 39.4 billion. It was the first time in 14 quarters that total household debt has increased. Total debt peaked in the second quarter of 2008 at $13,809.0 billion and has been on a steady decline ever since.

The increase in debt was led by a $39.6 billion surge in consumer debt, the seventh consecutive quarter that Americans have increased their consumer debt.

Total outstanding consumer debt increased from $2,668.9 billion in the first quarter of 2012 to $2,708.5 billion by the end of the second quarter. Consumer debt had peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the third quarter of 2010 but has been on the rise every quarter since.

Total mortgage debt fell 0.5 percent from $9,640.7 billion in the first quarter to $9,589.7 billion in the second. The last time that total mortgage debt was that low was in the second quarter of 2006 when total mortgage debt stood at $9,492.3 billion. Household mortgage debt peaked at $10.629 trillion in the first quarter of 2008.

Household net worth, the difference between the value of assets and liabilities, was $62.7 trillion at the end of the second quarter of 2012, about $300 billion less than at the end of the first quarter.

Tags: Federal Reserve, Flow of Funds, mortgage debt, consumer debt, household debt

Source:
Federal Reserve

INSIDER CAR BUYING TIPS
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November 12, 2012 (Chris Moore)

Total outstanding household debt rose for the first time in 14 quarters during the second quarter of 2012 as Americans continued to take on more consumer debt while still shedding their home mortgage debt according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt increased from a revised $12,905.7 billion in the first quarter of 2012 to $12,945.1 billion in the second quarter, a gain of 39.4 billion. It was the first time in 14 quarters that total household debt has increased. Total debt peaked in the second quarter of 2008 at $13,809.0 billion and has been on a steady decline ever since.

The increase in debt was led by a $39.6 billion surge in consumer debt, the seventh consecutive quarter that Americans have increased their consumer debt.

Total outstanding consumer debt increased from $2,668.9 billion in the first quarter of 2012 to $2,708.5 billion by the end of the second quarter. Consumer debt had peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the third quarter of 2010 but has been on the rise every quarter since.

Total mortgage debt fell 0.5 percent from $9,640.7 billion in the first quarter to $9,589.7 billion in the second. The last time that total mortgage debt was that low was in the second quarter of 2006 when total mortgage debt stood at $9,492.3 billion. Household mortgage debt peaked at $10.629 trillion in the first quarter of 2008.

Household net worth, the difference between the value of assets and liabilities, was $62.7 trillion at the end of the second quarter of 2012, about $300 billion less than at the end of the first quarter.

Tags: Federal Reserve, Flow of Funds, mortgage debt, consumer debt, household debt

Source:
Federal Reserve

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

November 12, 2012 (Chris Moore)

Total outstanding household debt rose for the first time in 14 quarters during the second quarter of 2012 as Americans continued to take on more consumer debt while still shedding their home mortgage debt according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt increased from a revised $12,905.7 billion in the first quarter of 2012 to $12,945.1 billion in the second quarter, a gain of 39.4 billion. It was the first time in 14 quarters that total household debt has increased. Total debt peaked in the second quarter of 2008 at $13,809.0 billion and has been on a steady decline ever since.

The increase in debt was led by a $39.6 billion surge in consumer debt, the seventh consecutive quarter that Americans have increased their consumer debt.

Total outstanding consumer debt increased from $2,668.9 billion in the first quarter of 2012 to $2,708.5 billion by the end of the second quarter. Consumer debt had peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the third quarter of 2010 but has been on the rise every quarter since.

Total mortgage debt fell 0.5 percent from $9,640.7 billion in the first quarter to $9,589.7 billion in the second. The last time that total mortgage debt was that low was in the second quarter of 2006 when total mortgage debt stood at $9,492.3 billion. Household mortgage debt peaked at $10.629 trillion in the first quarter of 2008.

Household net worth, the difference between the value of assets and liabilities, was $62.7 trillion at the end of the second quarter of 2012, about $300 billion less than at the end of the first quarter.

Tags: Federal Reserve, Flow of Funds, mortgage debt, consumer debt, household debt

Source:
Federal Reserve

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
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CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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