Consumers lean on unsecured debt as cost of living bites, reports TransUnion
Bank card and personal loan balances rise 15% while mortgage originations tumble.
Higher interest rates and inflation have pushed household budgets to beyond their limits, forcing many American consumers to take on more debt.
New stats from TransUnion show that bank card balances were up 15% in the third quarter of 2023 compared to a year earlier, with a new record high of $99
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