Geithner Sees “Economic Improvement” As Mortgage Delinquencies Hit All Time High

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Geithner Sees "Economic Improvement" As Mortgage Delinquencies Hit All Time High U.S. Review Fed Positions for Rate Cut The Fed kept rates unchanged this week but opened the door to easing later this year by noting the heightened uncertainty to the economic outlook and the.

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Geithner Sees "Economic Improvement" As Mortgage Delinquencies Hit All Time High The Economic Crisis And What Must Be Done. By the time of the interest rate hikes of 1968, the economy was slowing down. Both federal budget and trade deficits were beginning to replace the post-war surpluses. high interest rates were the likely cause.

Even as Mr. Geithner, in prepared congressional testimony, claims that the economy is "recovering", the MBA announced yet another record number of mortgage delinquencies. At over 14%, the number of American homeowners either in delinquency or in foreclosure was an all-time record in September, representing a ninth straight quarterly increase.

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In the midst of millions riding the waves of the real estate reckoning, even more ordinary Americans are facing the rising tide of credit card APRs. In fact, according to new data, the average credit card interest rate has recently climbed to an all-time high, with averages hovering just below 15%.

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