Reported 2 months ago
A report from the Federal Reserve Bank of New York indicates that U.S. household debt increased by $109 billion in Q2, reaching $17.80 trillion. Despite this rise, delinquency rates held steady at 3.2%, which are significantly lower than pre-pandemic levels. Borrowing remains resilient amidst a challenging economic backdrop, with increased rates raising concerns about potential downturns, although most borrowers appear to be managing their debts effectively.
Source: YAHOO