The serious delinquency rates for both auto and student loans rose throughout the Great Recession. Only the rate for auto loans, however, peaked and started to fall.
Nationally, total real per capita consumer debt rose around 50 percent from 2003 through the third quarter of 2008. The Eighth District saw a much milder increase.
Four components—changes in average debt, average debt in default, number of households with debt and number of households in default—constitute the change in the share of mortgage debt in default. Which one is the biggest driver?
The St. Louis Fed’s Jeanne Marra tells the story of a full-service, fully bilingual banking center, which is also the first financial institution in Fairmont City, Ill.
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