U.S. auto loans 90-plus days past due have reached 5.02%, with many borrowers owing more than their cars are worth and facing interest rates up to 30%, making it hard to catch up once behind.
About 9.1 million small-business loans totaling nearly $276.6 billion were reported in 2024. As for small-farm loans, about 197,000 small-farm loans were reported for 2024, totaling about $14.5 billion.
The rate for a 30-year fixed-rate mortgage was 6.24% this week. The rate for a 15-year fixed-rate mortgage was 5.49%.
The Treasury Department announced a joint effort with Mexico to target several Mexico-based gambling establishments involved in alleged cartel-related money laundering and other criminal activities.
The Financial Accounting Standards Board published an accounting standards update that improves the accounting for purchased loans, according to a statement from the standard-setting body.
The House voted in favor of a Senate deal to reopen the government, ending a shutdown that began on Oct. 1.
