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Gen Z: Economic State Making it Harder to Save

A new study from Bank of America revealed 73% of Gen Z reported that the current economic environment has made it more challenging to save. Many respondents said inflation has created even more financial stress, while surging rents or home prices have made it harder to afford day-to-day necessities.

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As Originations Decline, Consumer Interest in HELOCs Inches Upward

Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”

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Exploring the Latest Credit Trends

With consumer credit performance maintaining healthy levels across mortgage, auto, credit card, and personal loans, lenders continued to ramp up new account origination growth in the non-prime segment of the market near the end of 2021. TransUnion’s newly released Q4 ...

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Why Credit Scores Are Rising Amid National Crisis

credit scoring

The average FICO credit score hit a record high of 711 this past July. This uptick to the score may come as a shock, especially since it has taken place several months “knee deep” amid a global pandemic, FICO representatives ...

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States That Stand to Lead Home-Equity Origination

Due to economic impact of COVID-19, more Americans are taking out home-equity and other types of loans, according to a new study by WalletHub. "Americans who are having trouble with their finances during the COVID-19 pandemic are searching for all sorts ...

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Americans’ Credit Conditions, By State

When it comes to credit, the reverberations of COVID-19 are shaking some states more vigorously than others, according to an Annual CardRatings state-by-state study. States in the best position to bear the brunt of this year’s economic uncertainty are reflected ...

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The State of Americans’ Credit

According to the latest Invest in You Survey conducted by CNBC and Acorns in Partnership with SurveyMonkey, Americas are rethinking their spending habits. Specifically, the survey shows that all across the nation, residents are tightening their purse strings and focusing on saving ...

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