The Federal Reserve raised the federal funds rate from 0.5 to 0.75 percent. That means the party might be over on cheap interest rates, especially mortgages.
The Federal Reserve's consumer credit report for September 2016 shows a 6.3% annualized monthly increase in consumer credit, and 7.0% for the entire third quarter. Revolving credit increased 5.2% for the month as well as Q3,. Non-revolving credit increased 7.4% for September and 7.6% for Q3. Consumer credit matters due to personal consumption being the driving force in economic growth.
The Federal Reserve's consumer credit report for August 2013 shows a 5.4% annualized monthly increase in consumer credit, driven by student loans. Once again student loans increased, while credit card debt declined. Revolving credit declined by -1.2%, and non-revolving credit jumped another 8.0%. This is the third month in a row revolving credit has declined.
The Federal Reserve's consumer credit report for July 2013 shows a 4.4% annualized monthly increase in consumer credit, driven by auto loans. Once again student loans increased, while credit card debt declined. Revolving credit declined by -2.6%, and non-revolving credit jumped another 7.4%. June showed consumer credit increasing by a 5.1% annualized rate.
The Federal Reserve's consumer credit report for November 2012 shows a 7.0% annualized monthly increase in consumer credit, once again driven by student loans. Revolving credit increased by 1.1%, and non-revolving credit jumped another 9.6%. October showed consumer credit increasing by a 6.2% annualized rate.
The Federal Reserve's consumer credit report for September 2012 shows a 5.0% annualized monthly increase in consumer credit, once again driven by student loans. Revolving credit declined, -4.1%, and non-revolving credit increased 9.2 %. For Q3, consumer credit increased 4.0% annualized, with revolving credit declining -1.5% and non-revolving increasing 6.5% for the third quarter.
The Federal Reserve's consumer credit report for July 2012 shows a 1.5% annualized monthly increase in consumer credit. Revolving credit declined, -6.75%, and nonrevolving credit increased 1.0%. The Credit Kraken went back into it's cave.
The Federal Reserve's consumer credit report for May 2012 shows a 8% annualized monthly increase in consumer credit. Revolving credit surged, 11.2%, and nonrevolving credit increased 6.5%. The Credit Kraken comes out of it's cave.
The Federal Reserve's consumer credit report for March 2012 shows a 10.2% annualized monthly increase in consumer credit. Revolving credit increased, 7.8%, and nonrevolving credit surged 11.3%. The Credit Kraken continues it's rampage, after a hiatus in February, mainly on the backs of people going to school.
The Federal Reserve's consumer credit report for January 2012 shows a 8.6% monthly increase in consumer credit. Revolving credit decreased, -4.4%, and nonrevolving credit surged 14.7%. The Credit Kraken is clearly on a rampage, for the third month is a row, mainly on the backs of people going to school.
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