American home debts – Credit cards, mortgages, car loans and student loans – it’s A new time 18.04 trillion dollars, according to a report released on Thursday, the Bank of Federal New York Reserve.
General debt in the last three months of 2024 grew by $ 93 million and about half of this magnification was a new credit card debt, according to the report.
Americans are credit card balances, now it is a 1.21 trillion record.
Thursday, New York federal reserve researchers said that the credit card debt usually rises at the end of the year when consumers make holiday shopping. Researchers said the balances will fall at the beginning of this year, buyers begin to pay this debt.
High interest rates is another factor behind the highest level of credit card debt, the researchers said. They added that income level increases debts, a positive sign of the health of the economy.
Visa credit cards appear in Washington on October 27, 2009.
Jason Reed / Reuters, File
Delinemants – Reflect missed payments about credit card invoices – also marked in the fourth quarter.
The report highlighted the higher rates of auto loans delinquency. Americans keep almost $ 1.7 billion in car loan debit.
New York federal reserve researchers said new self-prices and higher price used as a result of the pandemic.
“While the mortgage crime rates are similar to the previous level of pandemic, the transition rates of auto loan delinquence are raised,” Wilbert van der Klauw, Economic Research Advisers in the New York Federal Reserve. “Auto loan delinquency rates are wide at credit scores and income level.”
