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US Retailers, Consumers Brace for Unusual Holiday Shopping Season

Credit Card, Personal Loan Balances Hit Record Highs Amid Soaring Inflation, Rising Rates

Nearly Half a Million High Schoolers will Receive Life-Changing Personal Finance Education Funded by a Grant from Michael Jordan and Jordan Brand and Implemented with Next Gen Personal Finance

Household Debt Rises While Mortgage Originations Decline

Mortgage debt is rising despite the fact that mortgage originations for refinances and purchases are trending downward. The Federal Reserve Bank of New York's quarterly household debt report shows an increase in household debt of $266 billion (1.7%) to $15.84 trillion for the first quarter of 2022. But new loan originations – both for home purchases and refinancing of existing mortgages – fell to $859 billion, the lowest since the second quarter of 2020. 

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