Estudios Técnicos reports worsening affordability, which drops to 57% in some regions. #NewsismyBusiness
Credit card debt and inflation are pushing more people in the U.S. and Puerto Rico into financial stress. #NewsismyBusiness
Home sales in Puerto Rico fell 4% year-over-year to 10,479 units in 2023, according to the Office of the Commissioner of Financial Institutions. #NewsismyBusiness
The affordability problem worsened in the first quarter, which is attributed to the increase in the price of housing and high mortgage interest rates. #NewsismyBusiness
The drop in real GDP reflected a rise in imports and drops in exports and private fixed investment (PFI), the BEA reported. #NewsismyBusiness
The shares of credit card debt and student debt in Puerto Rico are comparable to the U.S. mainland, according to the New York Fed. #NewsismyBusiness
The decision announced Wednesday by the Federal Reserve System to increase interest rates by 25 basis points “does not represent a significant impact” on Puerto Rico’s economy or for bank customers.
Toyota Credit de Puerto Rico, the only captive finance company in the market, is preparing to face challenges in the short and long term under the leadership of its new CEO Brett Beals, a veteran executive, with more than 18 years of experience in the field, who took office last June.
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