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Consumer Credit growing....Really?

By
Real Estate Agent with Realty Texas

According to the AP this morning in a news article, the consumer credt is growing at a rate that we haven't seen since July 2008.  In October, experts say that consumer borrowing went off the charts in the largest amount seen in two years.  The Federal Reserve stated that credit rose by a rate of $3.4 billion in October which was a significant amount considering the last spike was two years ago at a rate of $5.7 billion.  I am hoping this is a very positive sign of recovery that will take us in to a rewarding 2011.  Goods luck and Happy New Year to each and everyone. 

Comments (2)

Navona Hart
Century 21 Realty @ Home - Farmville, VA
Selling the Best Properties in Central Virginia

I am hoping with you! More good news would help us all.

Dec 08, 2010 01:02 AM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

I'd believe that consumers are using it more than ever, but have a hard time believing that banks are lending more than ever.  I'd hardly believe that one!

Dec 08, 2010 01:10 AM