According to the Federal Reserve in a DSNews.com article, the average American’s financial situation has improved.
And that means good news for the mortgage market, which has been stressed by the recently increasing number of borrowers who have had trouble paying their mortgages because of deteriorating personal finances.
During the third quarter (from July to September), household wealth has grown by an average of 2.2 percent, or $1.2 trillion. Also reported was that the household net worth has recovered $1.1 trillion. Americans are continuing to pay down personal debt, with consumer credit decreased by 1.5 percent and the mortgage debt by 2.5 percent.
All together, the financial boost to the average American should give U.S. consumers, as well as the economy and employment, added confidence and a bit more security. Great news to read in these financial times!
Read the article in full at DSNews.com.
Latest posts by Renee West (see all)
- Live on the secluded Promontory bay in the Newport Harbor. Listed for $4,795,000. Generous sunny patio and your own private docks!!! - May 25, 2019
- This turnkey, Lido Village, Bayfront home features a private 100’ boat slip, one of the largest boat accommodations in Newport Harbor. Contact Renee for your private showing- email@example.com. - April 18, 2019
- European Inspired Villa in Dana Point!Offered at $7,333,333.00. Contact Renee West : firstname.lastname@example.org your exclusive tour around the Dana Point community! - April 15, 2019