By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

Indestata

  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Reading: Personal finance weekly news roundup March 29, 2025 ~ Credit Sesame
Share
Subscribe To Alerts
IndestataIndestata
Font ResizerAa
  • Personal Finance
  • Credit Cards
  • Loans
  • Investing
  • Business
  • Debt
  • Homes
Search
  • Home
  • News
  • Personal Finance
    • Credit Cards
    • Loans
    • Banking
    • Retirement
    • Taxes
  • Debt
  • Homes
  • Business
  • More
    • Investing
    • Newsletter
Follow US
Copyright © 2014-2023 Ruby Theme Ltd. All Rights Reserved.
Indestata > News > Personal finance weekly news roundup March 29, 2025 ~ Credit Sesame
News

Personal finance weekly news roundup March 29, 2025 ~ Credit Sesame

TSP Staff By TSP Staff Last updated: March 29, 2025 6 Min Read
SHARE

Credit Sesame’s personal finance news roundup, March 29, 2025. Stories, news, politics, and events impacting personal finance during the past week.

  1. Bank of America shutters branches in latest digital shift
  2. Mortgage delinquencies surge despite overall credit improvement
  3. Student loan borrowers face potential credit score reversal
  4. White House sets deadline to eliminate paper checks
  5. 2024 fourth quarter GDP revised upward in final estimate
  6. Mortgage rates move in opposite directions
  7. Inflation continues to exceed Fed’s target
  8. All weekly news headlines from Credit Sesame

Bank of America shutters branches in latest digital shift

Bank of America confirmed the closure of five branches across four states in early March 2025. As one of the nation’s largest banks, the closures impact California, Florida, Oregon, and Tennessee. This decision aligns with the bank’s broader strategy of cutting costs by shifting more customers to digital banking platforms. Bank of America’s branch closures are an example of a wider banking industry trend. According to one report, over 1,650 bank branches have been closed since 2018. Read article at MSN.com.

Mortgage delinquencies surge despite overall credit improvement

The rate of mortgages overdue by 30 days or more climbed from 2.6% to 2.9% in February 2025, marking a significant 12.1% increase within just one month. This rise is particularly concerning, as consumers typically prioritize mortgage payments to safeguard their homes. However, other credit sectors showed improvement, with declining delinquency rates for auto loans, credit cards, and personal loans, although auto loan delinquencies remain elevated compared to last year. See credit performance details at TransUnion.com.

Student loan borrowers face potential credit score reversal

New findings from Federal Reserve Bank of New York researchers highlight how pandemic-era forbearance significantly boosted credit scores for student loan borrowers. However, these improvements may soon evaporate now that the programs have ended. Throughout the pandemic, borrowers received relief from payments, with delinquent and defaulted accounts marked as current. Between 2019 and 2024, borrowers previously delinquent on student loan payments saw their credit scores rise by a median amount of 103 basis points. Those who had previously been in default on student loan payments saw their scores rise by a median amount of 72 basis points. Since those forbearance programs expired last fall, many accounts that are still delinquent or in default will start appearing on credit reports in the first quarter of this year. That could cause a sudden drop in the scores of some borrowers who previously benefited from the forbearance programs. See analysis at NewYorkFed.org.

White House sets deadline to eliminate paper checks

President Trump signed an executive order mandating the elimination of paper checks in federal transactions, effective September 30, 2025. All government-related payments and disbursements—including taxes, loan repayments, fees, fines, refunds, benefits, and vendor payments—must transition to electronic funds transfers. See press release from WhiteHouse.gov.

2024 fourth quarter GDP revised upward in final estimate

The Bureau of Economic Analysis reported its third and final estimate for economic growth in the last quarter of 2024, revising GDP growth slightly upward to a 2.4% annual rate after inflation adjustments. This revision marks a modest improvement from the previously estimated 2.3% but still indicates a slowdown from the 3.1% growth rate recorded in the third quarter. For calendar year 2024, GDP grew at 2.8% after adjustment for inflation, similar to 2023’s 2.9% real growth. Last year’s growth was attributed to increases in consumer spending, investment, government spending, and exports. See GDP report at BEA.gov.

Mortgage rates move in opposite directions

Mortgage rates experienced mixed movements last week, with 30-year rates slightly declining and 15-year rates rising again. The average 30-year mortgage rate decreased by two basis points to 6.65%, remaining within a narrow range of 6.63% to 6.67% over the past four weeks. Conversely, the 15-year mortgage rate rose for the third consecutive week, increasing by six basis points to 5.89%. 30-year rates are now 57 basis points above the low point reached at the end of last September. 15-year rates have risen by 73 basis points since then. See rate details at FreddieMac.com.

Inflation continues to exceed Fed’s target

The Personal Consumption Expenditures (PCE) price index, closely watched by the Federal Reserve, climbed another 0.3% in February, marking its third consecutive monthly increase at that pace. Sustaining this inflation rate would result in an annual figure approaching 3.7%, significantly higher than the Fed’s target of 2.0% and the 2.8% inflation rate forecasted by the Fed for 2025. The core inflation rate, which excludes food and energy price fluctuations, was even higher in March, at 0.4%. See PCE price index details at BEA.gov.

All weekly news headlines from Credit Sesame

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article How Many Borrowers Can Be On A Mortgage?
Next Article 25 Fun and Interesting Things You Can Do with a Dollar Bill
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FacebookLike
TwitterFollow
PinterestPin
InstagramFollow
TiktokFollow
Google NewsFollow
Most Popular
Ways to Save Money That Financial Advisors Secretly Mock
June 1, 2025
9 Money Saving Habits That Secretly Signal You Don’t Trust Your Partner
June 1, 2025
10 Stocks You’ll Wish You’d Purchased in 2025
June 1, 2025
Money Resentment in Relationships: The Hidden Cost of Unequal Earning
May 31, 2025
Your Financial Goals Might Be Too Small—Here’s How to Dream Bigger
May 31, 2025
The Money Lies You Tell Yourself (And What They’re Costing You)
May 31, 2025

You Might Also Like

News

Personal finance weekly news roundup May 31, 2025 ~ Credit Sesame

6 Min Read
News

What Happens to Your Credit Score and Credit Report After Death ~ Credit Sesame

8 Min Read
News

16 Budgeting Tips to Manage Your Money Better

12 Min Read
News

What To Expect From A Debt Management Plan

6 Min Read

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Indestata

Indestata is your one-stop website for the latest finance news, updates and tips, follow us for more daily updates.

Latest News

  • Small Business
  • Debt
  • Investments
  • Personal Finance

Resouce

  • Privacy Policy
  • Terms of use
  • Newsletter
  • Contact

Daily Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Get Daily Updates
Welcome Back!

Sign in to your account

Lost your password?