Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot.

Interest rate cuts are looming again. After the Federal Reserve resumed the rate-cut campaign it started in 2024 in September, other cuts now seem likely for the central bank's next meetings in October and December. That will potentially offer real relief ...

"Less ideal debt" is for buying an asset that drops in value, like a car loan, or has a high interest rate, like credit cards. "Necessary debt" is used to buy an asset that can rise in value, like a mortgage, or that can lead to future income, like student loans.

Currently, the average interest rate on a 30-year fixed mortgage is 6.1%, compared to 6.09% a week ago, according to the Mortgage Research Center.  For borrowers who want to pay off their home faster,

Millions of graduates are trapped by ballooning debts, as their repayments are dwarfed by the interest added

As costs rise and budgets stretch, debt often builds quietly, but a few steady changes can reduce pressure and bring back a sense of control.

The rate on a 30-year fixed refinance increased to 6.27% today, according to the Mortgage Research Center. Rates averaged 5.36% for a 15-year financed mortgage and 6.14% for a 20-year financed mortgage.