RTE's finance correspondent Simon Coveney has the latest on the latest forecasts and predictions for mortgage rates across the globe.RTE's mortgage rate forecasts are based on the most recent data available from the Bank of England, the Royal Bank of Scotland, and the European Central Bank.In a commentary, RTE Economics editor Richard Waugh says the Bank's forecast for house prices in Ireland has ...
As the U .
S. prepares for its second-largest mortgage crisis in a decade, more than 5.7 million people have filed for bankruptcy protection in a stunning jump from just over 2.4 million in 2013, according to the Consumer Financial Protection Bureau.
But the agency said Monday that more than 4 million borrowers who filed for Chapter 11 protection in October were not included in the latest data.
That means more than 1.3 million people were not counted in the agency’s latest numbers, even as it reported another record 6,829,734 consumers who filed bankruptcy in October, the bureau said.
The latest numbers are likely to push the number of people who filed Chapter 11 filings to over 7 million, according the bureau, which says that number has been growing steadily over the past several years.
And it is also likely to lead to higher mortgage rates.
“The average rate of interest charged on a mortgage is $1,095 a month, up from $926 a month a year ago,” CFPB Director Richard Cordray said in a statement.
“That is the highest rate for this time of year since September of 2017.”
Consumers are getting caught in a vicious cycle of debt that has become an expensive and risky investment.
Bankruptcies can make a huge difference to the consumer, and many of them result in a reduced income.
They can also push a person into default on their mortgage, which can lead to a foreclosure.
The bureau says that the number is expected to grow as the country tries to make good on the promises made by President Donald Trump and Congress in the debt ceiling agreement last year, which included more debt relief and other relief for borrowers.
The average household owes $2,500 more in outstanding mortgage debt than it did in February.
“When the crisis hit, I think the average household was on the hook for more than $2.5 trillion, and they’re still on the line,” CFO Joe O’Donnell said in an interview.
But O’Brien said that is not the case.
“I don’t think that was the case when we were in the early stages of this crisis.
We were already in a financial emergency, and we were looking for the money to pay off our debts,” he said.
O’Neil said the new numbers are troubling, and “the American public deserves better.”
He said the government is doing a “fantastic job” with the information it has.
“This is not a normal financial crisis.
There are so many other things to worry about.
It is a debt crisis, but it is not just about debt,” O’Neill said.
“It is a crisis of the economy, and it is a challenge to the very foundations of the country.”