Smart Borrower Blog

Refinances Jump as Mortgage Rates Plunge

Apr 26th, 2017 @ 8:01 PM by Amber Nelson

Long-term mortgage interest rates took a dive last week as investors worried about foreign finances and politics, clearing the path for an increase in U.S. refinance applications. According to data from mortgage giant Freddie Mac, the average rate on a 30-year fixed rate mortgage loan sank to 3.97 percent with an average of 0.5 points […]

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Subprime Auto Default Could Lead to Other Defaults

Apr 19th, 2017 @ 8:57 PM by Amber Nelson

Roughly 17 percent of U.S. consumers believe they will default on an auto loan payment over the next 12 months, fueling concerns that defaults on subprime auto loans are affecting more of the economy than predicted. According to a new survey from the UBS Evidence Lab, only about 16 percent of all current car loans […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Small Business Loan Approval Rates Remain Strong in March

Apr 12th, 2017 @ 9:16 PM by Amber Nelson

Small banks and institutional investors approved more U.S. small business loan applications in March , according to data from the Biz2Credit Small Business Lending Index, although approval rates fell among credit unions and alternative lenders. Small banks – those with less than $10 billion in assets – approved 48.9 percent of all small business loan […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Mortgage Rates Back to 2017 Lows

Apr 7th, 2017 @ 11:10 AM by Amber Nelson

Long-term mortgage interest rates fell in the latest week, nearly tying the 2017 yearly low, according to mortgage giant Freddie Mac. The move is a response to weaker stock market prices and concerns that Trump Administration tax cuts will not materialize quickly. The average rate on a 30-year fixed rate mortgage (FRM) slid to 4.10 […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Millennials Promise Job Loyalty for Student Loan Help

Mar 29th, 2017 @ 8:32 PM by Amber Nelson

Young American employees are finding it difficult to concentrate at work, according to a new survey by the American Student Assistance group, as they are constantly plagued by worries about how to repay their student loan debts. Millenials – those between the ages of 22 and 33 – have helped push the total amount of student […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Credit Card Debt Nears Pre-Recession High

Mar 22nd, 2017 @ 9:51 AM by Amber Nelson

American consumers have been racking up credit card in a style similar to their pre-financial crisis habits, with spending predicted to reach a ten-year high by the end of 2017. Total outstanding credit card debt jumped to $978.9 billion in the fourth quarter of 2016, a 7 percent increase from the year before and the […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Federal Reserve Raises Rates to 8-Year High

Mar 15th, 2017 @ 12:41 PM by Amber Nelson

The Federal Open Market Committee – an arm of the Federal Reserve – raised its target interest rate today, the second increase in three months, with the rate now barely back up where it was eight years ago at the end of 2008. The Fed upped its federal funds rate to the range of 0.75 […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Business Borrowing Fell in January but Still Up from Last Year

Mar 8th, 2017 @ 8:50 PM by Amber Nelson

U.S. small businesses borrowed less money in January, with borrowing falling to a three-month low, but it increased on an annual basis. The Thomson Reuters/PayNet Small Business Lending Index declined in January to 123.3, down 8 percent from 134 in December. That is the lowest level since October’s 119.8 reading. However, PayNet sees the dip as […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

Freddie Mac: Rates Hold Steady for 4 Weeks, But Likely to Rise Soon

Feb 28th, 2017 @ 10:41 AM by Amber Nelson

Long-term mortgage rates have been in a holding pattern for last four consecutive weeks, but there is very little chance they will linger near 4 percent for long, according to a recent forecast from mortgage giant Freddie Mac. During the week ended February 23, 2017, the average rate on a 30-year fixed rate mortgage (FRM) […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

U.S. Auto Loan Industry Data Continues to Raise Red Flags

Feb 22nd, 2017 @ 10:11 PM by Amber Nelson

Even as U.S. sales of cars and trucks has risen to new heights in the past year, delinquencies on auto loans are also making records and the number of loans made to subprime consumers has jumped dramatically in recent years. At the end of 2016, Americans held almost $1.2 trillion in car loan debt, a […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.

U.S. Consumer Borrowing Growth Slows to 3-Year Low

Feb 15th, 2017 @ 1:39 PM by Amber Nelson

Even though American consumers continued to spend more money in December than they did in November, the increase was much lower than expected and the slowest pace since 2013. According to figures from the Federal Reserve, consumer debt increased by $14.2 billion in December 2016 from the month before. That is significantly below the $20 […]

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About Amber Nelson
Amber Nelson is a seasoned mortgage industry writer and a regular contributor to Loan.com and Mortgage101.com.