_{ECONOMIC UPDATES}
Increase in U.S. Mortgages Deemed 'Seriously Underwater'

The first quarter of 2024 has seen a troubling trend in the U.S. housing market, with the percentage of mortgages considered "seriously underwater" increasing in 37 states. The term "seriously underwater" refers to situations where the loan-to-value ratio exceeds 125%, meaning homeowners owe at least 25% more than their property's market value. This rise in underwater mortgages highlights a growing financial instability for many homeowners across the country. Simultaneously, the proportion of "equity-rich" mortgages, where homeowners have significant equity, has declined to the lowest level in two years, indicating a cooling housing market and eroding homeowner wealth. This shift poses potential risks for the economy, as fewer homeowners have equity to tap into for financial needs. Read More.

_{WORLD NEWS}

BRICS: Two New Members Opt to Abandon the US Dollar

The BRICS alliance, led by major economies such as China, Russia, and India, is aggressively promoting the use of local currencies in global trade, urging developing nations to abandon the US dollar. This initiative for de-dollarization could significantly undermine the dominance of the USD in international markets. The move poses a looming threat to the U.S. economy, as reduced reliance on the dollar could destabilize various sectors, from finance to exports. This strategic shift may not only diminish America's economic influence but also trigger widespread economic repercussions domestically. Read Now.