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Growth in Consumer Credit Accelerates

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The April expansion in revolving credit largely reflects an increase in the amount of revolving credit holdings at depository institutions. In April, depository institutions accounted for 80.4 percent of total revolving credit holdings. Revolving credit increased by $2.6 billion in April on a not seasonally adjusted basis. Depository institutions contributed $4.0 billion in revolving credit holdings and credit unions accounted for an additional $0.1 billion. However, these gains were partially offset by a decline in the holdings of revolving credit by finance companies and pools of securitized assets. The monthly increase in the holdings of revolving credit by depository institutions may indicate that lending activity is beginning to grow.

View this original article on the NAHB Eye on Housing blog.

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