High prices and rising debt put pressure on household budgets this year: A look at the New York Fed’s top five Liberty Street Economics blog posts of 2024.| Liberty Street Economics
Mortgage balances, the largest component of U.S. household debt, grew by only $77 billion (0.6 percent) in the second quarter of 2024, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. This modest increase reflects a substantial slowdown in mortgage origination; only $374 billion was originated during the second quarter, compared to an average of about $1 trillion per quarter between 2021 and 2022. Meanwhile, after n...| Liberty Street Economics
A look at credit card borrowers using 90 percent or more of their credit limit and how likely they are to miss credit card payments.| Liberty Street Economics