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Money

The www.FedPrimeRate.com Personal Finance Blog and Magazine

Friday, June 17, 2016

Wells Fargo: Many Potential Buyers Are Misinformed About Mortgages

From this short, NBR video segment: three mortgage myths:

  1. Must have a 20% down payment
  2. Must have high income
  3. Must have perfect credit

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Sunday, June 12, 2016

Federal Reserve Report: Household Net Worth Sets New Record-High

According to the Federal Reserve's recent Financial Accounts report, in terms of both current and inflation-adjusted dollars, Americans households were at their wealthiest ever, during the first quarter of 2016.

Q1, 2016: $88.087 trillion

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2015: $87.25 trillion

2014: $84.201 trillion

2013: $79.383 trillion

2012: $69.598 trillion

2011: $63.545 trillion

2010: $62.316 trillion

2009: $58.094 trillion

  • 2008:  $56.214 trillion

2007:  $66.577 trillion

2006:  $66.095 trillion

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So, from the painful days of the 2008 banking crisis and start of the Great Recession, to the first quarter of 2016, household wealth has increased by $31.873 trillion (56.7%.)

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Household Net Worth
Household Net Worth


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The Fed' next Financial Accounts report will be released on September 16, 2016.  Stay tuned for the updated figures...

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