Mortgage debt has grown 30% since before the pandemic. But the majority of mortgage debt holders have rates below 5%.
Just before the pandemic, the New York Fed found that about 9% of people had bills that ended up in collections. Now, less than 5% do.
Who's taking on debt for what reasons, and why paying it down is good for your financial and mental health.
It's good news for our personal economies, but it means we're not spending as much to prop the economy as a whole.
It can be indication to banks that you're unlikely to pay at all.
The total debt carried by Americans has reached yet another record high — $13.5 trillion in the last quarter, according to the Federal Reserve Bank of New York. Household debt is now $837 billion higher than its previous peak in 2008. What’s behind rising household debt, and is it something to be concerned about, especially […]