{"id":1004149921,"date":"2016-08-10T10:55:57","date_gmt":"2016-08-10T18:55:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149921"},"modified":"2022-12-03T05:16:48","modified_gmt":"2022-12-03T13:16:48","slug":"economy-watch-consumer-debt-outlook-healthier","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-consumer-debt-outlook-healthier\/","title":{"rendered":"Economy Watch: Consumer Debt Outlook Healthier"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<div id=\"attachment_1004149923\" style=\"width: 410px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004149923\" data-attachment-id=\"1004149923\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-consumer-debt-outlook-healthier\/2016-q1-total-debt-balance\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg\" data-orig-size=\"598,350\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2016-q1-total-debt-balance\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Credit: FRBNY Center of Microeconomic Data&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg?w=598\" class=\"wp-image-1004149923\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg\" alt=\"Credit: FRBNY Center of Microeconomic Data\" width=\"400\" height=\"234\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg 598w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg?resize=300,176 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><p id=\"caption-attachment-1004149923\" class=\"wp-caption-text\">Credit: FRBNY Center of Microeconomic Data<\/p><\/div>\n<p>American consumers borrowed a little more in the second quarter than the first, and they aren&#8217;t defaulting on their debts as much as in recent years. In fact, in the case of mortgage defaults, the rate is as low as it&#8217;s been in 18 years. These metrics spell good news not only for the for-sale residential sector, but for commercial sectors of the economy supported by consumer spending, especially retail (the latest report on retail sales will be out at the end of this week).<\/p>\n<p>The<a href=\"https:\/\/www.newyorkfed.org\/microeconomics\" target=\"_blank\" rel=\"noopener\"> Federal Reserve Bank of New York\u2019s Center for Microeconomic Data<\/a> reported on Tuesday, in its household debt quarterly report, that household debt increased by $35 billion (a 0.3 percent increase) to $12.29 trillion during the second quarter of 2016. That moderate growth was driven by increases in auto loan and credit card debt, which were up by $32 billion and $17 billion, respectively.<\/p>\n<p>Mortgage debt declined by $7 billion in the second quarter, after a $120 billion increase in the first quarter, and student loan balances were roughly flat. Also, the second quarter saw improvements in overall mortgage delinquency rates and another historical low (over the 18 years of the data sample) in new foreclosures.<\/p>\n<p>Overall delinquency rates improved, continuing the trend in place since 2010. In the second quarter, 4.8 percent of outstanding debt was in some stage of delinquency, down from 5 percent in the previous quarter, and 5.6 percent in the second quarter of 2015, the NY Fed reported. There were 82,000 consumers with new foreclosure notations on their credit reports\u2013another low in the 18-year history of that data set, and definite good news for retailers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There were 82,000 consumers with new foreclosure notations on their credit reports\u2013another low in the 18-year history of that data set, and definite good news for retailers.<\/p>\n","protected":false},"author":1023,"featured_media":1004149923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[],"class_list":["post-1004149921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Consumer Debt Outlook Healthier - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-consumer-debt-outlook-healthier\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Consumer Debt Outlook Healthier\" \/>\n<meta property=\"og:description\" content=\"There were 82,000 consumers with new foreclosure notations on their credit reports\u2013another low in the 18-year history of that data set, and definite good news for retailers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-consumer-debt-outlook-healthier\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-10T18:55:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T13:16:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/2016-q1-total-debt-balance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"598\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/\"},\"author\":{\"name\":\"Dees Stribling\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"headline\":\"Economy Watch: Consumer Debt Outlook Healthier\",\"datePublished\":\"2016-08-10T18:55:57+00:00\",\"dateModified\":\"2022-12-03T13:16:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/\"},\"wordCount\":287,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/08\\\/2016-q1-total-debt-balance.jpg\",\"articleSection\":[\"National\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/economy-watch-consumer-debt-outlook-healthier\\\/\",\"name\":\"Economy Watch: Consumer Debt Outlook Healthier - 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