ALEXANDRIA, Va. (Nov. 10, 2022) – The National Credit Union Administration has granted a federal charter and Share Insurance Fund coverage to New York Episcopal Federal Credit Union in the Bronx, New York.
Mortgage rates rose again last week, throwing even more cold water on demand from both current homeowners and potential homebuyers. Weekly application volume fell 0.1% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Credit card and personal loan balances have reached record highs in recent months as an increasing number of consumers lean on such means to combat growing financial pressures caused by sky-high inflation.
The third quarter of 2022 saw more consumers turning to unsecured personal loans and credit cards as a means to help stave off the financial pressures brought on by inflation.
Any day now, federal student loan borrowers throughout the U.S. could see their balances reduced by up to $20,000 thanks to President Biden’s student debt forgiveness plan. The administration is waiting on a green light from a federal judge to actually start reducing balances, but still says applicants can expect good news in the coming weeks.
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