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In a report released last month, the Government Accountability Office estimated that about 10 million borrowers – more than one-quarter of the total – were behind on payments as of the end of January.
The share of adults who say they are worse off financially than a year earlier drops to 31% from 35% in 2022.
"The extended period of prosperity in the U.S. housing market may be showing signs of easing."
People in their 20s and 30s are leading among borrowers having trouble meeting auto-loan payments.
Americans have a record $3.07 trillion available on credit cards.
More than 3.1 million Americans age 55 or older plan to apply for Social Security benefits earlier than expected.
Nationwide, home loans, which increased 5% last year, crossed the $10 trillion threshold for the first time.
A new report says, "slower gains in permitting for improvement projects will put the brakes on remodeling growth over the coming year."
The Fed data also shows that a degree still makes an important contribution to financial stability.
The CFPB has received 2,475 complaints from borrowers about the government's collection efforts since the start of 2018.