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Credit Card and Debt Statistics Database
by Scott Bilker
Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about and DebtSmart can be found in the online media kit.

Consumer Income Rising

Consumers' incomes have been rising rapidly enough, primarily from wage gains just over 4 percent, to support moderate spending gains. The negative wealth effect of lower stock prices has been partly offset by rapidly rising house prices in most regions of the country (except areas with a concentration of technology industries). Homeowners are tapping into their housing equity with "cash-out" refinancings using fixed-rate and adjustable-rate mortgages down to near 7.00 percent and 6.50 percent, respectively.
        Categories:  Finances,Personal Income
        Reporting Pub:  PNC Bank
        Reporting Date:  8/1/2001
        Article Title:  National Economic Outlook - August 2001
        Article Author:  Stuart G. Hoffman, Senior Vice President and Chief Economist
        Pub's Source: 
        Source URL:  View details from source

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