More Americans Pay Mortgage First, Then Credit Cards
Financially distressed borrowers are beginning to make their mortgage payments before paying their credit card bills, according to a study released Thursday by Transunion, marking the reversal of a trend that emerged after the housing market crashed. The credit information provider said this is a positive development, reflecting the rebound in U.S. home prices and fewer borrowers stuck with mortgages valued more highly than their homes. In 2009, credit cards were 30 days delinquent at a rate of 2.82 percent versus a rate of 3.83 percent for mortgages. These rates dropped to 1.82 percent and 1.91 percent, respectively, as of 2012, according to Transunion.
From "More Americans Pay Mortgage First, Then Credit Cards"
CNN Money (09/19/13) Tseng, Nin-Hai
Financially distressed borrowers are beginning to make their mortgage payments before paying their credit card bills, according to a study released Thursday by Transunion, marking the reversal of a trend that emerged after the housing market crashed. The credit information provider said this is a positive development, reflecting the rebound in U.S. home prices and fewer borrowers stuck with mortgages valued more highly than their homes. In 2009, credit cards were 30 days delinquent at a rate of 2.82 percent versus a rate of 3.83 percent for mortgages. These rates dropped to 1.82 percent and 1.91 percent, respectively, as of 2012, according to Transunion.
From "More Americans Pay Mortgage First, Then Credit Cards"
CNN Money (09/19/13) Tseng, Nin-Hai
No comments:
Post a Comment