Household debt ratios for the third-quarter plummeted to levels not seen in more than 40 years. The Financial Obligations Ration (FOR) dropped 100 basis points (bps) over the past year, while the Debt Service Ratio (DSR) has declined 72 bps since the third-quarter of 2019, based on figures released by the Federal Reserve. The sharp…
Consumer confidence calamity rebounded a tad in early December with the prospects of a long-delayed stimulus package being passed before the holiday break, the beginning of COVID-19 immunizations and the U.S. Supreme Court and Electoral College finally squelching voter fraud claims propagated by extremists. However, the brief consumer confidence December bump is likely to be…
Coronavirus disruptions to everyday life are spreading rapidly as fear and anxiety grip consumers, business-owners and investors. The amplification of misinformation via social media and governments has become a plague unto itself. For Americans the only “silver lining” is mortgage rates dropping to the lowest level since October 2016. The 30-year fixed-rate mortgage is now…
Small business challenges for 2020 will not be easy as more than eight of ten owners indicate attracting new customers is their biggest problem, and nearly six out of ten report hiring or trying to hire qualified applicants has become frustrating. Overall, small business optimism during 2019 was a roller coaster ride for many, as…
Home sharing is becoming more expensive than a hotel stay as greedy homeowners slip in exorbitant cleaning fees and service fees. At the same hotels are migrating to the gig economy for cleaning services an apps for room service from local restaurants, according to Bankcenter and CardBuzz. Senior Analyst Robert McKinley for CardTrak says as…
The consumer economic outlook showed signs of a rebirth in July following two months of the doldrums. All consumer indices showed upticks in short-term confidence. This brightening in the outlook comes at the same time as the U.S. enters the longest economic expansion in its history. July is the 121st consecutive month of gross domestic…
Installment payment options initiated at the cash register or till, with a payment card, may finally be coming to not only to a bank near you, but also globally. After 17 years of experimentation by the Visa and Mastercard networks, the concept of using one payment card with a credit, debit and installment option will…
Consumer confidence slides in June reversing the brightening Spring momentum in the wake of the misguided government shutdown and nasty Winter weather coast-to-coast. This Summer, consumers are considering the impact of increased tariffs (taxes) on imported Chinese goods this Fall, the threat of tariffs (taxes) on goods from Mexico, the possibility of quickly rising global…
Tariff trash talk for imports from Mexico is having a major impact on American consumer confidence. All consumer confidence indices for May showed substantial improvements in consumer assessment of both current and future economic expectations. However, the Trump Mexico tariff threat completely eroded the consumer confidence gains of May. Americans were already rattled by the…
The small biz surge has joined the economic optimism pep rally in May following a stressful and bizarre start for 2019, created largely by the hurtful Trump Shutdown. The latest surveys are showing small business owners as well as consumers are feeling better about the short-term. Small business owners indicate sales, hiring and investment expectations…
