All Posts Tagged: income

U.S. Outlook: Happy anniversary, Great Recession expansion!

Scott Anderson
Chief Economist

The current economic expansion turned nine years old this month.

outside shoppers in San FranciscoHow does this expansion stack up against the longest on record, and how long will it last?

For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on June 8.

Key observations:

  • The current expansion, at 108 month long and running, is the second longest in history going back to 1854, trailing only the 1991-2001 expansion.
  • Sharp downturns in GDP are sometimes followed by strong and rapid recoveries, but debt-driven recessions, like the Great Recession, can take longer to fully recover from.
  • Income growth during the current expansion has remained tepid compared to past expansions.
  • In our view, this expansion is likely to last for at least six more quarters, partly due to the tax cuts that were enacted late last year.

 

Read my full report.

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3 reminders for a healthy debt level

Paul Appleton
Consumer Banking
Middle-aged woman and shorter elderly woman with glasses in light-hearted conversation as they inspect produce in a grocery store.

When you hear the word “debt,” the associations that first come to mind may be burdensome, constricting, or negative.

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U.S. Outlook: The state of the union

Scott Anderson
Chief Economist
Rear view of man seated on a rock, wearing cowboy hat and looking out over a large beige, hilly valley.

With the U.S. Presidential election just 73 days away, we thought now would be a good time to take a closer look at how the economy is faring at the state level.

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Ways to document your income for a mortgage

Victor Polich
Mortgage Banking
African-American couple sitting on couch and reviewing their finances.

It’s important to stay organized and maintain a paper trail, since your income will be scrutinized in great detail by underwriters.

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Looking to buy or refinance? Pay attention to the number 43.

Stew Larsen
Posted by Stew Larsen
Mortgage Banking
Young couple reading financial documents in kitchen

Your total debt payments relative to your total income is called your debt-to-income ratio, which prospective lenders will be watching.

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