Launch of the US population in the second quarter of 2021 grew up the most quick in eight years in the pace – it increased by 2.1 percent, and the total amount of citizens’ liabilities approached 15 trillion dollars. This is evidenced by the calculations of the Federal Reserve Bank of New York.
Compared with the first quarter, the debt has become more than 313 billion, also by having traveled a long-term growth record in monetary terms – the previous one was recorded in 2007, it is noted in the report. Mortgage contributed to the increase in debt volume. The amount of such loans increased by 282 billion and reached 10.44 trillion dollars by the end of June. In the last four quarters, the volume of mortgage loans issued reached the maximum level in history – about 4.6 trillion dollars, which is associated with low lending rates.
The debts of Americans on credit cards rose by $ 17 billion after the first quarter fell by 49 billion. But the level of these obligations is still 140 billion lower than what was recorded at the end of 2019. Car loans increased by 33 billion, education loans decreased by 14 billion. In general, lending not related to the purchase of housing has increased by 44 billion.
At the same time, the level of overdue loans remained low enough, which is associated with measures to support borrowers introduced into a pandemic. By the end of June, he was 2.7 percent, which is two percent lower than in the fourth quarter of 2019, before the start of the coronavirus crisis.
In Russia, the ledity of the population is also growing. So, in June, banks of the country issued a record number of cash loans – 1.7 million, which is 53 percent more than in the same month last year. In 2020, the debt of Russians on loans increased by 13.4 percent and also reached a record 19.92 trillion rubles.