FINOFR的动态

“The financial services landscape is set to shift significantly in 2025. With interest rates trending down, four in five recent homebuyers may consider refinancing within the next year to reduce financial stress. While many prefer to borrow from one of their primary institutions, competitive rates often sway their decisions. As competition for loans intensifies, the big question is: How will your credit union stand out?” Unlock the key trends of 2025 that are already shaping the future of financial services—and how credit unions can use them to stay ahead in the article published by CUInsight.com, Adapt or Fall Behind:?2025 Trends That Will Transform Credit Unions ?? ? Read the full article ??? https://bit.ly/2025-CU #CreditUnions #FinancialWellness #PersonalizedBanking #CommunityImpact

Credit card issuers are starting to raise their interest rates in anticipation of an $8 cap on late fees the CFPB has proposed, according to the Wall Street Journal. ??Last year, credit card holders paid a whopping $14 billion in late fees?? Check out these current interest rates from two Issuers: Bread Financial cards = 29.99% Synchrony cards = 34.99% How about this revenue from credit card interest & fees last year? American Express = $2 billion JPMorgan Chase Bank = $3 billion If you have a significant amount of credit card debt and own a home with a good bit of equity, you should seriously consider refinancing to roll in that extremely high interest rate debt. When you calculate the blended rate of interest you are paying for all of your debt, your 3% mortgage may not be the best way to go, especially when you consider the monthly cash flow that you would free up by eliminating credit cards with high payments. Here's a free link to read the WSJ story: https://lnkd.in/eUUkHG6a

The average credit card interest rate in America today is 24.92% — the highest since LendingTree began tracking rates monthly in 2019. LendingTree reviews about 220 of the most popular credit cards in the U.S. — from more than 50 issuers — to comprehensively look at the state of credit card interest rates. #Wallstreet #Investing #debt #Credit #Economy #Nasdaq

Alarming trends emerge as credit card delinquencies hit a new high since 2011, according to the Federal Reserve Bank of New York. A recent survey by the Achieve Center for Consumer Insights sheds light on the reasons consumers are being driven deeper into a debt spiral. Dive into the data in our recent feature with Investopedia: https://bit.ly/3WSOuKM #welcometoachieve #consumerdebt #debt #inflation #finance #personalfinance #consumerinsights #interestrates #householddebt #financenews #fintechnews #creditcard #creditcarddebt

Ouch- weakening consumer: Credit card lenders wrote off $46 billion in seriously delinquent loan balances in the first nine months of this year, according to BankRegData. That is up 50 percent from the same period in 2023, and the highest level in 14 years,?The Financial Times reported. https://lnkd.in/evjJK4TN

Paul Davies explores the intricate dynamics between private-credit fund managers and banks, likening it to mortgage lending in the early 2000s. The potential for heightened leverage and looser borrowing standards raises concerns over the long-term risks. Paul Davies | Bloomberg https://lnkd.in/e-Eh6wTu #PrivateDebt #PrivateCredit

After a few years of rising interest rates, the Federal Open Market Committee (FOMC) has begun what I expect to be incremental cuts through the end of the year and into 2025. How does this directly impact your current and future financial goals? M&T Bank is here to help cut through the noise with digestible insights and friendly tools to make informed decisions about mortgages, HELOCs, and credit. https://lnkd.in/gzG-23Zi

BOOM! WHAT HAVE WE BEEN TALKING ABOUT? ?? Ally Financial Flags Intensifying Credit Challenges: A Sign of the Times? ?? Ally Financial has just flagged growing credit challenges, particularly a rise in net charge-offs, with auto loans being hit hardest. This fits into the broader narrative we’ve been following around consumers turning to Alternative Financial Services (AFS) for short-term cash flow solutions. Companies like OppFi and Affirm are seeing increased activity, and services like Dave are being used more frequently for paycheck advances as consumers struggle to keep up with rising costs and tighter credit markets. With both traditional lenders and alternative lenders facing increasing defaults, it’s clear that the financial pressure is widespread. Let’s discuss how this impacts our strategy moving forward. Source: https://lnkd.in/grtesdKb

Credit card delinquency is rising. In the first quarter of 2024, 6.9% of credit card balances fell into “serious delinquency,” 90 or more days late, according to Fed data, up from 4.6% in early 2023. The overall credit card delinquency rate was 3.1% at the end of 2023, the highest level since 2011. This is turning into a mental health crisis as well. https://lnkd.in/g3wmtfUy

Your credit score is more than just a number; it’s a crucial factor that influences your ability to secure loans, obtain favorable interest rates, and access various financial opportunities. Here are some strategies to help you manage and improve your score:? ?? Aim to keep your credit card balances well below your credit limit. This shows lenders you can manage credit responsibly.? ?? Pay your credit card bills on time, every month. Set reminders or use autopay so you never miss a payment.? ?? Avoid applying for new credit cards or loans because it can temporarily lower your credit score. ?? Regularly check your credit report for errors. Mistakes can happen, but being prompt to get them corrected can prevent inaccuracies from hurting your score.? Being proactive with your credit score is key. ?? Connect with us today for additional guidance on improving your credit score! https://trst.in/ZKz0La American Bank of Freedom. Member FDIC. Equal Housing Lender. NMLS 409183.