Credit card debt hits new record, raising warning sign! » Mortgage Masters Group

Another quarter has passed with household debt hitting a fresh record. Household debt hit a new record 167.3 percent of disposable income in the fourth quarter of 2016. That’s up from 166.8 percent in the previous quarter. In simple terms, that means on average for every dollar of disposable income Canadians earn, they owe $1.67 of debt.

Mortgage debt is once again close to the nosebleed levels it hit in 2008. Credit card debt has jumped to a new. signs of.

U.S. household debt reached a new record of $12.8 trillion in the second quarter, driven by rising mortgage debt, a strong quarter for auto loan originations, and an uptick in credit-card balances.

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Credit Card Debt Sets New Record High Surpassing 2008 Just before the Recession of the 2000s hit, Americans were loading up. They were piling into the real estate market with easy mortgages, furnishing them with loads of credit card debt .

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Stephen Gandel is a former Bloomberg Opinion columnist covering banking and equity markets. He was previously a deputy digital editor for Fortune and an economics blogger at Time. He has also covered.

We always say that, as a matter of principle, credit should be bought not sold. What we mean is that taking it should be an active choice, not just an incidental side-effect. It is precisely the.

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Warning that credit card debt could hit mortgage affordability By Leah Milner 26 th June 2018 11:14 am An increase in credit card spending could start to impact borrowers’ ability to keep up with rent and mortgage payments, Spicerhaart has warned.

Call (321) 206-6780 For a Better Mortgage Rate Today in Palm Bay, Florida.. Rather than force homeowners to pay for their efficiency projects using credit cards at high and potentially variable interest rates, Credit card debt hits new record, raising warning sign! Mortgage Masters Group

Credit Card Debt Hits Record High Before the Holidays. Consumers racked up $757 billion in credit card debt in the third quarter, according to Experian data. The amount owed is an 11% increase from a year ago and the highest since the end of 2008. Balances on credit cards are up 8% for the year compared to 2016.