Should you buy now and pay later?

When the Federal Reserve Bank of New York released its report on household debt, the numbers were eye-popping. Total household debt in the first quarter of the year increased by 1.7% to $15.84 trillion, putting balances “$1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic.”

Jill Schlesinger

The details showed that big jumps in mortgage and auto loans fueled the increase, as many rushed to lock in still-low interest rates before they began to rise.

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