Americans Are Overdue With Their Car Payments At Highest Rate In Nearly 30 Years

Higher car prices and rising interest rates are hindering car owners’ ability to afford their vehicle payments, as 6.1% of subprime auto borrower...

Higher car prices and rising interest rates are hindering car owners’ ability to afford their vehicle payments, as 6.1% of subprime auto borrowers are at least 60 days past due on their loans, the highest percentage in data dating back to 1994, according to Bloomberg, which cited Fitch Ratings.

The 6.1% of borrowers behind on auto loans last month marks a surge from the 2.6% reported in May 2021, after the federal government significantly lowered interest rates in the wake of the Covid-19 pandemic.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

AllSidesNow /  🏆 572. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin spot ETF is years overdue, says 'mystified' SEC commissionerSEC Commissioner voices her support for a spot bitcoin ETF, saying she has supported it for years and doesn't get the agency's approach.
Read more »

Invisible no more: Unmarked graves in Mount Hope Cemetery receive long overdue recognitionIn the quiet solitude of sunshine filtering through Mount Hope Cemetery Monday morning, a dedication of unmarked graves took place.
Read more »

Rising interest rates, and prices keep homeownership as a distant goal, especially for African AmericansThe New Black View
Read more »

Inside the Beltway: Americans want a House speaker 'as soon as possible'Just over two-thirds of registered U.S. voters -- 67% to be exact -- agree with this phrase: 'Congress needs to elect a Speaker as soon as possible to fund immediate needs like support for Israel, Ukraine, and to prevent a government shutdown in November.
Read more »

Sam Altman’s Worldcoin Doesn’t Want Americans to Read This Blog PostAn announcement on Worldcoin’s website about paying employees in cryptocurrency is blocked in the US.
Read more »

Family of Americans released by Hamas says they can't celebrate until all hostages are releasedThe family of two American hostages released by Hamas last week described in an interview with NBC News on Monday their struggle to grapple with feelings of…
Read more »