Page 7 - Keith Mclaughlin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Mortgage arrears fell in June despite higher interest rates.

Members of Congress have redirected roughly $2.3 billion in federal water funds toward political pet projects over the past two years, cutting at times into the money that could have been made available for poorer, needier communities. As a result, 38 states and territories have been shortchanged about $660 million in federal water aid, according to data obtained and analyzed by The Washington Post. The problem is expected to worsen in the coming fiscal year, as House Republicans eye a $1.7 billion cut to the overall funding that Washington sends states for their water needs.

Recent reports have warned of a ‘mortgage bomb’ that could blow up - and a growing number of people unable to pay back debts. Is the story as explosive as some headlines would have you believe? 

The squeeze on household and business finances has got tighter, with 426,000 people behind in their payments in May, according to credit reporting firm Centrix.

Climbing arrears return to Kiwi households.