Personal credit - Consumer trends and Desires
Personal credit - Consumer trends and Desires
Access to credit can help small businesses grow and expand their markets, or it can leave you strapped with unnecessary debt. Whether you’re looking for a loan to buy a needed piece of equipment or an installment plan for a new business, it’s important to ensure that the loan is risk-free and you don’t have to pay interest on the entire amount in order to prevent the growing of unproductive debt. Consumer credit is any financial product that allows users to borrow money, such as credit cards and mortgages. The Bureau of Economic Analysis’s consumer spending accounts for most of the nation’s GDP, and it also includes mortgage payments. The Consumer Credit Trends tool tracks originations for mortgages, credit cards, auto loans, and student loans. It also tracks inquiries for mortgages and credit cards to determine if trends are being sustained or changing. By tracking trends over time, this tool can help warn of potential problems in a given market.
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