In April, consumer credit (AKA consumer DEBT) increased at a seasonally adjusted annual rate of 5.7%. Revolving credit (credit cards) increased at an annual rate of 13.1% , while nonrevolving credit (student loans, personal loans, mortgages) increased at an annual rate of 3.2%.
by Dismal-Jellyfish Source: https://www.federalreserve.gov/releases/g19/current/g19.pdf Remember, From 1st quarter 2022 to 1st quarter 2023, total household debt has increased $1,205 billion to $17.05 trillion (+7.57%)–Mortgage balances ($864 billion), HELOC ($22 billion), Student loans ($14 billion), Auto loans ($93 billion), Credit Card debt ($145 …