Independent thinking for complex markets and current events
Survey: Nearly half of Americans anticipate tougher credit approval process by 2026 Americans view the economic climate as getting harder, with an increasing count thinking they’ll be rejected if they apply for a credit card, mortgage or car loan, the New York Federal Reserve said Monday. The share of respondents that expect it to be …
Despite credit rejections rising, debt levels are skyrocketing. Total US household debt just hit a record $17.1 trillion and is expected to rise again this quarter. People are using debt to "fight" inflation. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) September 11, 2023 At a time when …
via mishtalk: The more you think you really need a loan, the less likely you are to get one, especially auto loans. Data from New York Fed Survey of Consumers, chart by Mish New York Fed Credit Access Survey report comes out every for months. The June report shows significant tightening of credit standards by lenders and …