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Consumer Financial Health: Difference between revisions
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* Mortgage balances shown on consumer credit reports increased by $254 billion during the fourth quarter of 2022 and stood at $11.92 trillion at the end of December, marking a nearly $1 trillion increase in mortgage balances during 2022. | * Mortgage balances shown on consumer credit reports increased by $254 billion during the fourth quarter of 2022 and stood at $11.92 trillion at the end of December, marking a nearly $1 trillion increase in mortgage balances during 2022. | ||
* Credit card balances saw a $61 billion increase in the fourth quarter, surpassing the pre-pandemic high of $927 billion. Credit card balances now stand at $986 billion, after declining to $770 billion in 2021Q1. | * Credit card balances saw a $61 billion increase in the fourth quarter, surpassing the pre-pandemic high of $927 billion. Credit card balances now stand at $986 billion, after declining to $770 billion in 2021Q1. The increase in credit card balances last December from one year prior was the largest since records began in 1999. | ||
* Auto loan balances increased by $28 billion in the fourth quarter, continuing the upward trajectory that has been in place since 2011. | * Auto loan balances increased by $28 billion in the fourth quarter, continuing the upward trajectory that has been in place since 2011. | ||