MBS RECAP: Generally A Repeat Performance Of Yesterday

Household debt rose at an annual rate of 1¼ percent
in the second quarter, the largest increase since the
first quarter of 2008. Nonetheless, household debt
has changed little, on net, since the third quarter of
last year.

Consumer credit rose at an annual rate of
6¼ percent in the second quarter, the seventh
consecutive quarterly increase. Home mortgage debt
declined a bit more than 2 percent in the second
quarter, continuing the downtrend that commenced in
early 2008.

Household net worth—the difference between the
value of households’ assets and liabilities—was
$62.7 trillion at the end of the second quarter of
2012, about $300 billion less than at the end of the
first quarter. In the second quarter, the value of
corporate equities and mutual funds owned by
households declined close to $600 billion, more than
offsetting a $355 billion increase in the value of real
estate owned by households.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/275474.aspx

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