Deleveraging Americans

In the first quarter of 2011, required payments on outstanding mortgage and consumer debt as a share of disposable personal income fell to 11.51%, the lowest ratio since the second quarter of 1995; and the ratio for all household financial obligations (adds automobile lease payments, rental payments on tenant-occupied property, homeowners' insurance and property tax payments to the debt service ratio) fell to 16.4%, the lowest ratio since the third quarter of 1994.