Rising Rates Sounding Alarm Bells for Debt-Laden U.S. Consumers
- Credit-card spending has surged 9.4% as delinquencies rise
- Fewer U.S. consumers using ARMs than before financial crisis
This article is for subscribers only.
A healthy economy can be a dangerous thing.
Americans have a history of loading up on debt in good times, then paying dearly when the bills come due. Adding to the pain: A booming economy is often accompanied by rising interest rates, which make mortgages, credit cards and other debt much more expensive.