Consumers' Debt Burden

The Federal Reserve Board has just released data showing the percentage of consumers' total payments on consumer credit and residential mortgage obligations. In spite of the downturn in the economy, households' payments are only slightly higher than they were in the third quarter of 2000. The data suggest moderation on the part of both consumers and credit grantors. Declining interest rates have also helped, as many households refinanced existing mortgages and consolidated existing consumer debt into mortgages and home equity loans.

Printer-Friendly Chart