Credit Card Debt Rises To Record $1.08 Trillion

11/08/2023

Credit Card Debt Rises To Record $1.08 Trillion

EndTimesProphecyWatch.com

November 8, 2023

1–2 minutes

WE NEED YOUR SUPPORT: Our Christian Ministry / Website is 100% supported by our visitors. We do not sell products or place ads all across our website as we feel they are too intrusive. We want your experience on our website to be as pleasant as possible. It is because of loyal people like you that we can continue to bring the Gospel of Jesus Christ to our visitors and to continue to update our website, sounding the trumpet, with up-to-date prophetic news to people across the world! We need your support to continue to press forward with our ministry. Consider offering a donation of any size, as the Holy Spirit leads you. We thank you GREATLY for your tithes and offerings. CLICK HERE to make your donation today. God Bless You! Osvaldo Roldan, Founder – End Times Prophecy Watch

NEWS REPORT:

Household debt rose to $17.3 trillion in the third quarter of the year, an increase of $228 billion from the last quarter, the New York Fed said.

Credit card balances rose by $48 billion to $1.08 trillion. Student loan balances rose to $1.6 trillion. Mortgage debt rose to $12.4 trillion.

Auto loan balances rose to $1.6 trillion.

Loan delinquencies were up for most debt types except student loans.

“Credit card balances experienced a large jump in the third quarter, consistent with strong consumer spending and real GDP growth,” said Donghoon Lee, Economic Research Advisor at the New York Fed. “The continued rise in credit card delinquency rates is broad-based across area income and region, but particularly pronounced among millennials and those with auto loans or student loans.”

Read Full Article Here!