Village News - Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

By Robert Hughes
Special to Village News 

Household debt service drops to a record low

 

Last updated 10/16/2020 at 12:14pm



Data from the Federal Reserve show the household financial obligations ratio, minimum debt service payments plus other financial obligation payments as a share of disposable income, plunged to an all-time low of 13.64% in the second quarter. Within that measure, the total debt service ratio, minimum debt services payments as a share of disposable income, dropped to 8.69% with mortgage debt service coming in at 3.72% and other consumer debt service requiring 4.97%.

However, disposable personal income for the second quarter was significantly distorted by the massive government transfer paymen...



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