US Credit Card Debt Passes $1 Trillion For First Time
According to a new New York Federal Reserve report released Tuesday, American credit card debt has surpassed $1 trillion for the first time ever. Total credit card debt surged in…
Fitch Downgrades Fannie Mae And Freddie Mac
On Wednesday, ratings agency Fitch downgraded US mortgage giants Fannie Mae and Freddie Mac Long-Term Issuer Default Ratings, (IDR) and senior unsecured debt ratings to AA+ from AAA following the…
Credit Card Debt Soars At Fastest Pace In 20 Years
A new report says that in the US, credit card debt grew over the first quarter of this year at the fastest pace in two decades. A new report from…
Public Debt Of Italy Hits Record High
New data published by the Bank of Italy shows that the public debt of the Italian government surged by almost ($5.6 billion) over the first five months of 2023, reaching…
China Evergrande Posts $81 Billion Loss
In long-delayed results published Tuesday, China Evergrande Group posted a combined total loss of $81 billion over two years. In late 2021, the world’s most debt-burdened property developer defaulted on…
US Mortgage Rates Highest Since Last Year’s Peak
According to a new report released Wednesday by the Mortgage Bankers Association (MBA), as newly arrived economic data last week sent “mixed signals,” mortgage rates hit the highest levels since…
UK Mortgage Rates Reach 15 Year High
New data released by data company Moneyfacts has revealed that this week the key mortgage rate in the UK rose to the highest level seen in fifteen years, beating the…
UK Rate Increases Draining Homeowners With Mortgages
In a new report issued Thursday, the UK’s National Institute of Economic and Social Research (NIESR) has warned that homeowners in Britain may have to pay 50% more on their…
For The First Time, Consumer Debt Passes $17 Trillion
According to the Federal Reserve Bank of New York, in the first quarter of 2023 total consumer debt rose to an all time high, as mortgage balances, student loans, and…
