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Is rising mortgage debt a bad sign for the economy?

Feb 12, 2024
Mortgage debt has grown 30% since before the pandemic. But the majority of mortgage debt holders have rates below 5%.
"When you take mortgage debt as a share of income, it’s still relatively manageable," said Wells Fargo's Shannon Grein.
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More people are falling behind on debt, but fewer are in collections

Nov 8, 2023
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.
Medical debt previously made up about 60% of debt in collections. But data shows it doesn’t tell you much about someone’s creditworthiness.
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Despite more savings, American households still have a lot of debt

Who's taking on debt for what reasons, and why paying it down is good for your financial and mental health.
Recent data from the Federal Reserve Bank of New York shows the overall amount of household debt increased steadily in 2020.
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Credit card debt is falling. That's good news — and bad news

Nov 19, 2020
It's good news for our personal economies, but it means we're not spending as much to prop the economy as a whole.
One expert says retail spending is losing steam right as the critical holiday shopping season is ramping up.
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Household debt up 4% in the first quarter

Jun 12, 2020
About 1 in 6 households reports having more debt now than before the COVID-19 crisis.
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Why it matters when you’re 90 days late on a payment

Feb 12, 2020
It can be indication to banks that you're unlikely to pay at all.
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Household debt is at an all-time high as holiday spending season arrives

Nov 20, 2018
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 […]

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Household debt is rising, but still below 2008 levels

Feb 12, 2016
Mortgage balances and student loan debt have been on the rise.

Student debt goes up and up

Aug 13, 2015
With economic recovery, borrowing has risen for cars, homes, and credit card purchases.

Why a little debt isn't such a bad thing

Dec 12, 2014
Economists would tell you "debt" isn’t a dirty word.