According to the Federal Reserve Bank of New York's Center for Microeconomic Data, household debt is now $869 billion higher than 2008's $12.68 trillion peak. Studies show that the majority of the consumer debt in America today is attributed to mortgage, student and auto loans. Consumer debt-to-income ratio compares the total amount owed every month to the total amount earned. Lenders may consider debt-to-income ratio in tandem with credit reports and credit scores when weighing credit applications.
Top 10 States With Highest DTI Ratio
| 1. MS – 50% 2. AR – 49& 3. AL – 46% 4. LA – 46% 5. WV – 46% 6. NM – 44% 7. OK – 43% 8. SD – 43% 9. SC – 41% 10. IN – 41% |
The DMS Consumer Finance Insights: Unsecured Debt-To-Income Ratios By State snapshot covers trends for the period of January 2018-December 2018. The results provided are based on a DMS-created statistically relevant aggregate sampling of its owned-and-operated website and partner publisher data. Analyzed data did not contain personal identification information.
Additional trends and consumer insights from can be downloaded at insights.digitalmediasolutions.com.
About Digital Media Solutions
Founded by a team of lifelong athletes, Digital Media Solutions, LLC (DMS) is the fastest-growing independent digital performance marketing company. DMS deploys diversified and data-driven digital media customer acquisition solutions that deliver scalable, sustainable and measurable marketing results. The company's precision performance marketing solutions connect the right consumers with the right offers at the right time to achieve the marketing objectives of clients in highly competitive industries. DMS continues to experience explosive year-over-year growth, with continuous recognition on the Inc. 5000 list in 2014, 2015, 2016, 2017 and 2018; the Tampa Bay Business Journal's TBBJ 200 List in 2015, 2016, 2017 and 2018; and the Entrepreneur magazine 360 list in 2017 and 2018. Named one of America's "Best Places to Work" by Inc. magazine, DMS brings together some of the industry's most knowledgeable people, efficient processes and sophisticated technology across the digital marketing spectrum. The company continues to deliver on its strategic mission, which is backed by its board of investors including multi-billion-dollar Canadian private equity firm Clairvest Group. For more information about DMS, its consumer finance-focused brand Best Rate Referrals, affiliate network W4 Performance Ad Market, education-branded platforms under DMS Education including CollegeAtlas.org and CourseAdvisor.com or the performance marketing technology Sparkroom (https://sparkroom.com/), visit digitalmediasolutions.com (http://www.thedigitalmediasolutions.com/). Keep up with DMS news at insights.digitalmediasolutions.com and connect with us on LinkedIn at www.linkedin.com/company/digital-media-solutions-group.
© 2019 Digital Media Solutions, LLC. All Rights Reserved. Digital Media Solutions and its logos are trademarks or registered trademarks of Digital Media Solutions, LLC. All other company and product names referenced herein are the property of their respective owners.
Photos: (Click photo to enlarge)
Read Full Story - Massachusetts Consumers Have Lowest Debt-To-Income Ratio According To New Data From Digital Media Solutions | More news from this source
Press release distribution by PRLog
