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August 11, 2023
Household debt in the U.S. stood at $17.06 trillion in the second quarter.
Credit utilization remains historically low, but is on the rise.
People under 30 and over 70 hold a relatively small amount of debt compared to other age groups.
The average third party collection jumped to $1555 in the second quarter.
Household debt broken down by delinquency status
Credit card debt is now 11% higher than it was pre-pandemic.
Mortgage originations increased slightly in the second quarter, but remain well off the peak set in 2021.
Some interesting charts from our recent posts
Jim Bianco, founder and CEO of Bianco Research, and Samuel Rines, of Arbor Data Science, join Jack Farley on beautiful Leen’s Lodge for the first week of “Camp Kotok.”
Jim Bianco joins Bloomberg to discuss Re-Accelerating Inflation, Future Rate Hikes, No Landing Scenario and Bond Market Auctions with Romaine Bostick and Katie Greifeld.
Jim Bianco joins TD Ameritrade Network to discuss today's CPI Report, the Stock/Bond Relationship, the Fed's Inflation Fight & how the market will react when the Fed starts to cut rates with Oliver Renick.