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Mortgage Debt Continues to Decline
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
Mortgage Debt Continues to Decline
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
Mortgage Debt Continues to Decline

July 2, 2012 (Chris Moore)

Americans shed more of their mortgage debt in the first quarter of 2012, continuing a pattern that started in the second quarter of 2008, while total household debt fell for the thirteenth consecutive quarter according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt fell from a revised $12,930.0 billion in the fourth quarter of 2011 to $12919.2 billion in the first quarter of 2012, a decrease of 10.8 billion. Total household debt peaked in the second quarter of 2008 at $13,808.5 billion and has been on the decline ever since.

The decline in debt was led by a $71.7 billion decline in mortgage debt, the 12th consecutive month that Americans have reduced their mortgage debt.

Total mortgage debt fell 2.9 percent from the fourth quarter of 2011, falling from $9.819 trillion to $9.747 trillion. The last time that total mortgage debt was that low was in the third quarter of 2006 when total mortgage debt stood at $9.721 trillion. Household mortgage debt peaked at $10.628 trillion in the first quarter of 2008.

Households continued to take on new consumer debt, which includes auto loans and credit cards, by borrowing $36.2 billion more in the first quarter than they did in the fourth quarter of 2012, an increase of 1.4 percent. It’s the highest amount of debt consumers have taken on any one quarter since the fourth quarter of 2008.

Total outstanding consumer debt increased from $2.508 trillion in the fourth quarter of 2012 to $2.544 trillion by the end of the first quarter 2012. Consumer debt peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the fourth quarter of 2010 but has been on the rise every quarter since.

Household net worth, the difference between the value of assets and liabilities, was $62.9 trillion at the end of the first quarter of 2012, about $2.8 trillion more than at the end of the fourth quarter of 2011 and the highest since 2007.

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

Source:
Federal Reserve

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

July 2, 2012 (Chris Moore)

Americans shed more of their mortgage debt in the first quarter of 2012, continuing a pattern that started in the second quarter of 2008, while total household debt fell for the thirteenth consecutive quarter according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt fell from a revised $12,930.0 billion in the fourth quarter of 2011 to $12919.2 billion in the first quarter of 2012, a decrease of 10.8 billion. Total household debt peaked in the second quarter of 2008 at $13,808.5 billion and has been on the decline ever since.

The decline in debt was led by a $71.7 billion decline in mortgage debt, the 12th consecutive month that Americans have reduced their mortgage debt.

Total mortgage debt fell 2.9 percent from the fourth quarter of 2011, falling from $9.819 trillion to $9.747 trillion. The last time that total mortgage debt was that low was in the third quarter of 2006 when total mortgage debt stood at $9.721 trillion. Household mortgage debt peaked at $10.628 trillion in the first quarter of 2008.

Households continued to take on new consumer debt, which includes auto loans and credit cards, by borrowing $36.2 billion more in the first quarter than they did in the fourth quarter of 2012, an increase of 1.4 percent. It’s the highest amount of debt consumers have taken on any one quarter since the fourth quarter of 2008.

Total outstanding consumer debt increased from $2.508 trillion in the fourth quarter of 2012 to $2.544 trillion by the end of the first quarter 2012. Consumer debt peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the fourth quarter of 2010 but has been on the rise every quarter since.

Household net worth, the difference between the value of assets and liabilities, was $62.9 trillion at the end of the first quarter of 2012, about $2.8 trillion more than at the end of the fourth quarter of 2011 and the highest since 2007.

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

July 2, 2012 (Chris Moore)

Americans shed more of their mortgage debt in the first quarter of 2012, continuing a pattern that started in the second quarter of 2008, while total household debt fell for the thirteenth consecutive quarter according to the Federal Reserve’s latest Flow of Funds Report.

Total outstanding household debt fell from a revised $12,930.0 billion in the fourth quarter of 2011 to $12919.2 billion in the first quarter of 2012, a decrease of 10.8 billion. Total household debt peaked in the second quarter of 2008 at $13,808.5 billion and has been on the decline ever since.

The decline in debt was led by a $71.7 billion decline in mortgage debt, the 12th consecutive month that Americans have reduced their mortgage debt.

Total mortgage debt fell 2.9 percent from the fourth quarter of 2011, falling from $9.819 trillion to $9.747 trillion. The last time that total mortgage debt was that low was in the third quarter of 2006 when total mortgage debt stood at $9.721 trillion. Household mortgage debt peaked at $10.628 trillion in the first quarter of 2008.

Households continued to take on new consumer debt, which includes auto loans and credit cards, by borrowing $36.2 billion more in the first quarter than they did in the fourth quarter of 2012, an increase of 1.4 percent. It’s the highest amount of debt consumers have taken on any one quarter since the fourth quarter of 2008.

Total outstanding consumer debt increased from $2.508 trillion in the fourth quarter of 2012 to $2.544 trillion by the end of the first quarter 2012. Consumer debt peaked in the second quarter of 2008 at $2.609 trillion and fell to a four year low in the fourth quarter of 2010 but has been on the rise every quarter since.

Household net worth, the difference between the value of assets and liabilities, was $62.9 trillion at the end of the first quarter of 2012, about $2.8 trillion more than at the end of the fourth quarter of 2011 and the highest since 2007.

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?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
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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