March 2-6

Governmental Affairs Conference - Washington, DC

March 9-14

CUES Execu/Summit - Snowmass Village, CO

March 18-19

2025 CULytics - Atlanta, GA

March 23-26

Institue ALM First - Irving, TX

March 25-27

NCUCA Collections Conference - Las Vegas, NV

March 26-27

Marketing, Compliance, YOU and Lending Conference - Grand Rapids, MI

March 30-April 2

National Regulator Meeting - New Orleans, LA

Americans Are Finding it Harder and Harder to Pay Off Their Debt

Americans are facing growing debt burdens, with total household debt reaching $18.04 trillion. Auto loans, mortgages, and other major loan categories have all increased, but rising delinquency rates on auto loans are particularly concerning. Many borrowers took on higher auto loan balances as car prices soared post-pandemic, and now, missed payments on these loans have reached a 14-year high. Mortgage debt remains a significant portion of household borrowing, though high interest rates continue to limit affordability and refinancing options.

While overall delinquency rates are still below pre-pandemic levels, financial stability remains fragile. Higher benchmark interest rates have made borrowing more expensive, stretching household budgets. Some families, like Monica Chavez’s, are facing tough choices—relying on savings, borrowing from family, or seeking loan deferrals to stay afloat. Experts warn that if economic conditions worsen, with job losses or unexpected expenses, more borrowers may struggle to keep up with their loan payments, increasing financial strain across the country.

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cnn.com

Some Good News For Homebuyers: Slower Price Growth, More Supply and More Bargaining Power

The median U.S. home-sale price increased 3.7% year over year, marking the slowest growth since September, while mortgage rates dipped to 6.87%, their lowest of the year. Although monthly housing costs remain high, homebuyers are seeing more options, with total inventory at its highest level since early 2019 and new listings up 4.2% from last year. Buyers also have more negotiating power, as homes are selling for 2% below asking price and taking an average of 57 days to go under contract, the longest in five years.

Market conditions vary by region, with coastal Florida favoring buyers while West Coast and Northeast markets remain seller-friendly. In Los Angeles, housing activity has surged following the Palisades and Eaton wildfires, with pending home sales up 7.4% and new listings increasing 21.9%. Affluent buyers who lost homes are reentering the market, and sellers are stepping up to meet demand. With home touring on the rise, experts predict buyer competition may intensify as the spring season approaches.

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redfin.com