Fun Fact Friday 💸 3/15/2024

Hey Friends,
I’ve got 5 fun facts to share with you today and as usual – my weekly quote to ponder.  Have a great weekend!

Blessings,
Andrew

Fun Fact 1:
This past February, the Percent of Closed Price to Original List Price was up 1.1% when compared to last year, and up slightly (0.4%) when viewed month-over-month at 98.5%. (For reference, The Platinum Group percent was 99.3%, slightly higher than our local average.)

Source: Land Title Guarantee Company

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Fun Fact 2:
The interest payments on US Federal Government Debt have surpassed a $1 trillion annual rate, increasing 98% over the past 3 years.

Source: Charlie Bilello

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Fun Fact 3:
US household interest payments on non-mortgage debt hit a record $573 billion over the past year and is close to surpassing interest payments on mortgage debt ($578 billion) for the first time ever.

Source: Bureau of Economic Analysis

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Fun Fact 4:
The effective rate that households are paying on their mortgages remains very low (3.8%) as many locked in low rates during 2020-21 and aren’t moving. Contrast that with floating-rate credit card debt which has spiked to a record 21.5%.

Source: Bureau of Economic Analysis, Federal Reserve

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Fun Fact 5:
At 4.9%, the US Household Debt Burden (Interest Payments as % of Household Income) is the highest we’ve seen since 2011, but still well below the level that preceded the 2008 financial crisis (7.4% in December 2007).

Source: Bureau of Economic Analysis

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Quote I’m pondering:

“It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest.”
–Adam Smith, An Inquiry into the Nature & Causes of the Wealth of Nations, Vol 1

 

 

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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.