Inside the Economy: Credit Card Debt, Interest Income, and Insurance

SHJ Wealth Advisors

This week on “Inside the Economy”, we explore the levels of credit card debt, interest income, and relative insurance premiums across the United States. You may have seen news about credit card balances reaching an all-time high. However, did consumer credit card spending increase or decrease. What are the current levels of delinquencies on credit card debts? In other news, mortgage interest is not going higher, even with the rise in interest rates. How do home prices compare? What is the level of interest income paid out compared to mortgage interest? Regarding insurance, Colorado is on par with Florida concerning average annual insurance premiums. What has driven the increase in premiums in Colorado? Tune in to learn more! Key Takeaways: • 30-year Mortgage at 6.32% • Unemployment at 4.1% • U.S Net Wealth in Q2 at $152.8T