Consumer borrowing has picked up again, now reaching a pace not seen in six months. And Americans are piling on debt more with credit cards, versus auto, personal or student…
Currently, buyers can expect to spend 15.8 percent of the median household income on housing each month, up from 14.7 percent a year ago, according to a new analysis from Zillow. That’s the highest level since the second quarter of 2010.
Uber, the San Francisco-based ride-hailing giant, has agreed to pay $20 million to resolve Federal Trade Commission charges that it misled prospective drivers about potential earnings, the FTC said.
It offers a 5 percent back on all Amazon.com purchases, and 2 percent back at restaurants, gas stations, and drugstores.
The average household with credit card debt is carrying $16,061 in total balances. That’s just short of the high set in 2008, the eve of the financial crisis.
The card has some striking benefits, including a 100,000-point bonus after you spend $4,000 in the first three months.
Ongoing fallout from the Brexit vote abroad is pushing down U.S. mortgage rates closer to their all-time lows, and as a result, mortgage refinancing applications are surging.
The 30-year fixed-rate mortgage is now only 17 basis points above its November 2012 all-time record low of 3.31 percent.
Now, the prospect of more turbulence and a flight to safety among global investors to U.S. treasuries could spell another dip into historic territory for the 30-year fixed mortgage.
The 30-year fixed-rate mortgage this past week averaged 3.54 percent, its lowest point since it reached 3.51 percent in the week of May 16, 2013, according to Freddie Mac’s weekly updates.