In the past, consumers would pay their auto loans first, mortgages second and credit cards third,
except during the Great Recession.
Not exact matches
As a share of the economy, deficits are currently 3.1 percent of GDP and will reach 5.0 percent of GDP in 2027 and 9.0 percent of GDP within three decades — higher than any time
except for 5 years
during World War II and the
Great Recession.
The figure also suggests that, with some modest volatility, the mortgage risk premium has remained near 1.60 percentage points since the late 1980s,
except for a noticeable increase
during the
Great Recession.