> historically high APRs
Interest rates are NOT historically high. In fact they are basically right at "average". The rates for the last five years were historically LOW.
Interest rates are NOT historically high. In fact they are basically right at "average". The rates for the last five years were historically LOW.
This FRED series only goes back 30 years but if you look at the Fed Statistical Abstract consumer credit tables, APRs in 1985 were < 19% and in 1980 were < 18% so 21% and higher are very exceptional.