By Elizabeth Gravier, CNBC Consumers of all ages carry credit cards, but some generations have larger outstanding balances than others. Members of Generation X have the highest average credit card debt at $7,155, followed by baby boomers and millennials, according to credit bureau Experian’s latest consumer findings. With an average
By Jacob Passy, MarketWatch For much of the past year, Americans weren’t interested in taking on new debt — with one big exception. A new analysis from the Federal Reserve Bank of New York examined how the supply and demand of credit has ebbed and flowed throughout the COVID-19 recession.
By Carmen Reinicke, CNBC Beginning April 6, small businesses and non-profits can apply for up to 24 months of relief, with a maximum loan amount of $500,000, the Small Business Administration announced Wednesday. The previous limit for such businesses was six months, with a maximum loan amount of $150,000. “More
By Megan DeMatteo, CNBC Personal loans were the fastest-growing debt category in 2019, but new data from Experian found that changed in 2020. While personal loans saw a 12% year-over-year increase in 2019, the category only grew 1% in 2020 (the slowest for any debt category last year) with fewer people taking out loans.
By Diana Olick, CNBC Sharp gains in home prices and a slight rise in interest rates combined to weaken demand for mortgages last week. Total mortgage application volume fell 4.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Homebuyers are seeing prices rise at the
