Aug 10 (Reuters) - U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said.
Consumers have new protections involving debt collection and payday lending that affect thousands of Minnesotans. The new laws were passed in the 2023 Legislative Session and signed into law by Governor Tim Walz in May. The Minnesota Department of Commerce is implementing the laws.
Companies almost never offer employees pay cuts in the lead-up to layoffs, despite a willingness of workers to accept even deep reductions in wages to avoid losing their jobs, a new study finds.
As Americans increasingly lean on credit to make ends meet, new reports show signs of potential problems ahead. Total credit card debt surpassed $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday.
New York CNN — More Americans are failing to make payments on their credit cards and auto loans, another sign of rising financial pressure on consumers. New credit card and auto loan delinquencies have now surpassed pre-Covid levels, according to a Wednesday report issued by Moody’s Investors Service. The rate of new credit card delinquencies hit 7.2% in the second quarter, up from 6.5% in the first quarter, according to the Moody’s report, which was based on household debt data published earlier this week by the New York Federal Reserve.
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