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Household Debt Rises 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.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Household Debt Rises 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.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Household Debt Rises for First Time in Over Three years

March 9, 2012 (Chris Moore)

Household debt in the United States increased at an annual rate of 0.3 percent in the fourth quarter of 2011 according to the Federal Reserve’s latest Flow of Funds Report, the first increase in household debt since the second quarter of 2008.

Total outstanding household debt increased from $13,209.3 billion in the third quarter of 2011 to $13,222.9 billion in the fourth quarter, an increase of 13.6 billion. Total household debt peaked in the second quarter of 2008 at $13,900.9 billion.

The increase in debt was led by a $42.6 billion increase in new consumer debt, which includes auto loans and credit cards. That was a 1.7 percent increase from the third quarter and the highest amount of debt consumers had taken on any one quarter since the third quarter of 2007.

Total outstanding consumer debt increased from $2.478 trillion in the third quarter of 2011 to $2.521 trillion by the end of the fourth quarter. Consumer debt 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.

Households continued to shed their home mortgage debt in the fourth quarter, paying off a total of $34.8 billion worth of mortgage debt.

Total mortgage debt fell 0.4 percent from the third quarter, falling from $9.875 trillion to $9.841 trillion. The last time that total mortgage debt was that low was in the fourth quarter of 2006 when total mortgage debt stood at $9.868 trillion. Household mortgage debt peaked at $10.615 trillion in the first quarter of 2008.

For the entire year of 2011, total household debt declined by 0.8 percent, mortgage debt declined by 2.1 percent and consumer debt increased by 3.5 percent.

Household net worth, the difference between the value of assets and liabilities, was $58.5 trillion at the end of 2011, about $1.2 trillion more than at the end of the third quarter, but still down for the entire year.

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

Source:
Federal Reserve

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.
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.
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 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.
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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 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.
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March 9, 2012 (Chris Moore)

Household debt in the United States increased at an annual rate of 0.3 percent in the fourth quarter of 2011 according to the Federal Reserve’s latest Flow of Funds Report, the first increase in household debt since the second quarter of 2008.

Total outstanding household debt increased from $13,209.3 billion in the third quarter of 2011 to $13,222.9 billion in the fourth quarter, an increase of 13.6 billion. Total household debt peaked in the second quarter of 2008 at $13,900.9 billion.

The increase in debt was led by a $42.6 billion increase in new consumer debt, which includes auto loans and credit cards. That was a 1.7 percent increase from the third quarter and the highest amount of debt consumers had taken on any one quarter since the third quarter of 2007.

Total outstanding consumer debt increased from $2.478 trillion in the third quarter of 2011 to $2.521 trillion by the end of the fourth quarter. Consumer debt 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.

Households continued to shed their home mortgage debt in the fourth quarter, paying off a total of $34.8 billion worth of mortgage debt.

Total mortgage debt fell 0.4 percent from the third quarter, falling from $9.875 trillion to $9.841 trillion. The last time that total mortgage debt was that low was in the fourth quarter of 2006 when total mortgage debt stood at $9.868 trillion. Household mortgage debt peaked at $10.615 trillion in the first quarter of 2008.

For the entire year of 2011, total household debt declined by 0.8 percent, mortgage debt declined by 2.1 percent and consumer debt increased by 3.5 percent.

Household net worth, the difference between the value of assets and liabilities, was $58.5 trillion at the end of 2011, about $1.2 trillion more than at the end of the third quarter, but still down for the entire year.

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

Source:
Federal Reserve

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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
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 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

March 9, 2012 (Chris Moore)

Household debt in the United States increased at an annual rate of 0.3 percent in the fourth quarter of 2011 according to the Federal Reserve’s latest Flow of Funds Report, the first increase in household debt since the second quarter of 2008.

Total outstanding household debt increased from $13,209.3 billion in the third quarter of 2011 to $13,222.9 billion in the fourth quarter, an increase of 13.6 billion. Total household debt peaked in the second quarter of 2008 at $13,900.9 billion.

The increase in debt was led by a $42.6 billion increase in new consumer debt, which includes auto loans and credit cards. That was a 1.7 percent increase from the third quarter and the highest amount of debt consumers had taken on any one quarter since the third quarter of 2007.

Total outstanding consumer debt increased from $2.478 trillion in the third quarter of 2011 to $2.521 trillion by the end of the fourth quarter. Consumer debt 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.

Households continued to shed their home mortgage debt in the fourth quarter, paying off a total of $34.8 billion worth of mortgage debt.

Total mortgage debt fell 0.4 percent from the third quarter, falling from $9.875 trillion to $9.841 trillion. The last time that total mortgage debt was that low was in the fourth quarter of 2006 when total mortgage debt stood at $9.868 trillion. Household mortgage debt peaked at $10.615 trillion in the first quarter of 2008.

For the entire year of 2011, total household debt declined by 0.8 percent, mortgage debt declined by 2.1 percent and consumer debt increased by 3.5 percent.

Household net worth, the difference between the value of assets and liabilities, was $58.5 trillion at the end of 2011, about $1.2 trillion more than at the end of the third quarter, but still down for the entire year.

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

Source:
Federal Reserve

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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.
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.
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 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.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
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 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