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Americans Always Pay Down Credit Cards In Q1. But Not This Year…
Typically, Americans' credit card balances decline during the first quarter of a calendar year. Not in 2023, though.
Card balances were flat at $986 billion in the first quarter, the New York Fed said Monday, in the latest installment of the bank's quarterly household debt report.
It was the first Q1 in the (relatively short) history of the NY Fed's data series during which the nation's credit card balance didn't decrease.
Recall that Q4's $61 billion increase was the largest on record. Yo
I wonder why pandemic mortgage originations for FICO >760 jumped so much more than for other credit score groups. Maybe it doesn’t matter, but is curious.
My guess would be rate/term and cash out refis.