Fri, 21 February 2020
American households added $193 billion of debt in the fourth quarter, driven by a surge in mortgage loans, and overall debt levels rose to a new record at $14.15 trillion, the Federal Reserve Bank of New York said on Tuesday. Mortgage balances rose by $120 billion in the fourth quarter to $9.56 trillion, the New York Fed said in its quarterly report on household debt. Mortgage originations - pushed up by an increase in refinancing - also rose to $752 billion in the fourth quarter, reaching the highest volume since the fourth quarter of 2005, the report found. Student loan balances grew by $10 billion in the fourth quarter, a slower pace when compared to five years ago. However, the total $1.51 trillion outstanding in student loan debt could be holding back young consumers trying to build up credit, the researchers found. Credit card debt, which typically rises in the fourth quarter when consumers are doing their holiday shopping, rose by $46 billion last quarter, an amount economists said was larger than usual. “Mortgage originations, including refinances, increased significantly in the final quarter of 2019, with auto loan originations also remaining at the brisk pace seen throughout the year,” Wilbert Van Der Klaauw, senior vice president at the New York Fed, said in a statement. “The data also show that transitions into delinquency among credit card borrowers have steadily risen since 2016, notably among younger borrowers.”
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Fri, 21 February 2020
The Democrat clown car dumpster fire seems to know no bounds. Reparations galore for everyone compliments of Liawatha. Free money and free stuff will somehow carry the day, and perhaps for a large number of people, it will. Free operations for transgenders. What will Bernie charge for, will there be anything we have to pay for. Meanwhile Trump is standing by sidelines and hurling insults at the already challenged field and having a great party. But the party is about to end and then we'll see a landslide of epic proportions. |
Thu, 20 February 2020
Retirement Arwen Becker joined us to talk about why women often get flat-footed upon the passing of a spouse. All too often they are left in the dark about important financial matters. Some it's due to division of responsibility in a marriage, but often it's just due to fear or unwillingness to get involved in financial matters. One thing is for certain, every spouse should be aware of and participate in the family's business and finances to avoid getting stuck with no knowledge of where the money is. |
