| To view this email as a web page, click here. 
 What's Happening Today Good morning! It's Kristin with your daily morning digest.
Households in the U.S. took on a total of more than $1 trillion in debt last year, bringing consumer debt to a total of $15.6 trillion, according to the Federal Reserve's latest report on consumer credit. Credit card balances increased by $52 billion—the largest quarterly increase on record—and borrowers took out over $4.5 trillion in mortgages in 2021, a historic high, as housing prices surged in the U.S.
Stocks are rising this morning as Treasury yields retreat after spiking the last few days. When investors become less interested in bonds, they tend to look elsewhere, usually heading back to equities. Investors will likely be focused on more blockbuster earnings reports from Disney, Uber, and others ahead of tomorrow's inflation data. If inflation continues to run hot, it will further strengthen the Fed's argument that interest rate hikes are needed more often, and more quickly, so markets could respond negatively.
And for those that missed last night's Instagram Live conversation on getting financially ready to purchase a home with Kara Stevens, founder of The Frugal Feminista, you can watch a recording of the discussion here.
- Kristin
Editors' Picks
Off the Charts The average rate offered to homebuyers using a conventional 30-year fixed mortgage lingers at 4.11%—its high point since 2020. The average for a 15-year fixed mortgage rose to 3.24% from 3.23% the previous business day, also reaching a fresh high since 2020.  Number of the Day  $118 Billion - That's how much more people borrowed to buy cars last year—the biggest increase for any year since at least 2004—because they've gotten so expensive.
SPONSORED BY DISCOVER PERSONAL LOANS The start of a new year is a great time to strengthen good money habits. These tips can help you reduce debt and take charge of your finances. LEARN MORE >
More From The Balance /GettyImages-1061636550-6bda1ae1eb794710b34ba7db46cd7fbd.jpg) Here is a guide on what to do if your W-2 is wrong and reports inaccurate information, even if your employer has since gone bankrupt or is out of business.  The process of investing in SPACs is similar to investing in other public companies. Learn what SPACs are and about their risks before you invest. /RealEstatewholesaling-f96ecd8d28be482daa8b2bcbeb035e14.jpeg) Real estate wholesaling is a business strategy where a wholesaler enters into a contract on a home with the intent to sell the contract to a buyer by a certain deadline.
How can we improve The Balance Today newsletter? Tell us at newsletters@thebalance.com.
Email sent to: kholish2011.jobsearch@blogger.com
|
Historic High
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment