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Household Debt: Key Economic Indicators

Published Thursday, March 29, 2018

Household debt: Data on the latest household debt statistics, including net lending, mortgage interest rates and insolvencies.

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Household debt as a % of disposable income

Household debt peaked in Q1 2008 at 157% of household gross domestic income. It then fell untill 2014.

It rose for 6 successive quarters from the first quarter of 2016. In the last quarter of 2017 it was 138% of disposable income.household debt

Current average mortgage interest rates

The average Standard Variable Rate (SVR) was 4.23% in February 2018, slightly down on the level seen a year ago.

The average 2-year fixed mortgage rate was 1.49% in February, down up on the level seen a year ago.

mortgage interest rates

Individual insolvencies, England and Wales

There were 25,401 individual insolvencies in England and Wales in Q4 2017, a similar level to the previous quarter, and 10% up on the same period in 2016. There were almost 100,000 individual insolvencies in 2017, the highest annual total since 2014.

In Scotland, there were 2,691 individual insolvencies in Q4 2017, a fall of 2.1% on a year earlier. In Northern Ireland, there were 640 individual insolvencies in Q4 2017, an increase of 3.7% on a year earlier.

 

 

Commons Briefing papers SN02885

Author: Chris Rhodes

Topics: Economic situation, Financial services, Incomes and poverty

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