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Posted on 01/28/2020

Consumer Debt Hits $4 trillion

Posted on 01/28/2020
Consumer Debt Hits $4 trillion

CNN is reporting that consumer debt is higher than ever.

Americans are diving deeper and deeper into the red.

As of this month, outstanding consumer debt exceeded $4 trillion for the first time, according to the Federal Reserve.

Relatively strong holiday spending, particularly in November, and increasing credit card debt added more than $41 billion in outstanding balances at the end of 2018 […]

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At River City Mortgage we understand the burden this can place on homeowners. That’s why our loan officers work hard to understand each person’s unique financial situation and put our customers in the most advantageous mortgage product.

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