Author: James Alexander Michie
US households maintained an increasing debt during the period of the second quarter of the year as driven by an advance in mortgage debt which was notified by a report by the Federal Reserve Bank of New York that in addition to this They also showed some decrease in loans for students.
It is also important to emphasize the debt which increased up to 3.5% from last year during the period from April to June, obtaining a record of $ 13.3 billion and similarly the mortgage debt was also affected by the which increased by 3.4% to $ 9 billion, the new mortgages created continued to march towards the lenders with more expensive credit scores, leaving as a consequence a spread of the pattern of most of the current economic expansion.
In the same way, while the loans continued their course, it could be said that the accumulated stress on the part of the borrower was decreasing. However, the loans with delay fell to 4.52% during the period of the second quarter being the lowest, mainly due to the student loans of which the conversion rate had a significant fall of 1.3 points in the last year.
On the other hand, according to the senior vice president of the New York Fed, Wilbert van der Klaauw, the demonstration of the improvement of delinquency rates for student loans is a strong proof of an improved labor market as well as a greater participation in Different payment plans driven by income.
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