Car debt is piling up for consumers, according to a Bloomberg News report. The outlet found that the amount of negative equity, or the amount that debt surpasses a vehicle's value, is building up. This has led many car owners to show up at lots underwater, which is also known as "upside down," as they try to trade in their debt-burdened cars. The situation has emerged against a backdrop of rising interest rates, with the average new-car interest rate hitting 6.9 percent in January, up from 4.3 percent a year earlier, according to Edmunds.
Where you live can dictate how much you pay for housing. Danielle Hale, chief economist with Realtor.com, joined Cheddar News to discuss where the hottest markets for real estate are and how you can find a home in a current difficult market.
Financial stress can take a mental toll on people. Dr. Regine Muradian, clinical psychologist and member of the National Debt Relief Financial Wellness Board, joined Cheddar News to discuss strategies to ease those worries over money.
