Americans spent >$1.1tn on interest payments alone last quarter. \ stacker news ~charts

Americans spent >$1.1tn on interest payments alone last quarter.

705 sats \ 10 comments \ @tomlaies 10 Mar charts

11 sats \ 2 replies \ @Coinsreporter 10 Mar

It's interesting that both mortgage and non mortgage are coming closer after a long time. It indicates better and sustainable market conditions.

0 sats \ 0 replies \ @tomlaies OP 10 Mar

It indicates better and sustainable market conditions.

Does it? Basically all other forms of credit have even worse conditions than mortgages.

0 sats \ 0 replies \ @stckr 10 Mar freebie

it indicates, brrrrrrrr

1 sat \ 0 replies \ @Atreus 10 Mar

Sad to see everyday people getting wrecked. On the one hand, "They shouldnt be in debt," but on the other, the whole financial system is built to put them in debt, innit.

0 sats \ 5 replies \ @kr 10 Mar

interesting, what is the non-mortgage component made up of?

79 sats \ 3 replies \ @erict875 10 Mar

I guess crédit cards bills, buy now pay later stuff etc?

0 sats \ 2 replies \ @kr 10 Mar

i guess, but quite strange to see how much the debt load has shifted away from mortgages recently.

any good theories as to why?

0 sats \ 1 reply \ @nullcount 10 Mar

The mortgage debt load (in absolute terms) is also increasing. Non-mortgage debt tends to have higher rates.

Source

0 sats \ 0 replies \ @nullcount 10 Mar

Many with a mortgage in US are still paying 3% rates on a loan they got 5+ years ago for a 30-year term.

Many with credit card debt are paying 28% interest on a loan they built up in the last 5 years.

I imagine student loans are a big portion of "Other" in this chart.

10 sats \ 0 replies \ @go 10 Mar

Business loans HELOC Credit of all kinds