Smart Borrower Blog

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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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.

Mortgage Credit Availability Increases in January

Feb 8th, 2017 @ 9:21 PM by Amber Nelson

Mortgage lenders loosened their underwriting standards slightly in January, according to new data from the Mortgage Bankers Association, making it easier for homebuyers to realize their housing dreams. “Mortgage credit availability increased for the fifth consecutive month in January, driven by increased availability of jumbo loan programs,” said Lynn Fisher, MBA’s Vice President of Research […]

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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.

New Credit Card Accounts Jumped in 2016 Third Quarter

Feb 1st, 2017 @ 9:09 PM by Amber Nelson

American consumers took on more credit card debt and signed up for more cards in the third quarter of last year, according to a new report  from the American Bankers Association. The ABA’s January 2017 Credit Card Market Monitor – a report on credit card data from July to September 2016 – showed that 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.

Mortgage Applications Jump in Latest Week

Jan 25th, 2017 @ 9:02 PM by Amber Nelson

Even as mortgage interest rates rose, the volume of mortgage applications jumped to their highest level since June 2016, according to data from the Mortgage Bankers Association. The MBA Market Composite Index, a measure of total mortgage loan application volume, climbed 4.0 percent from the previous week. Most of the increase was attributable to 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.

Number of Senior Citizens with Student Debt Quadrupled in Last 10 Years

Jan 18th, 2017 @ 9:38 PM by Amber Nelson

The past decade has conjured up a Mortgage Meltdown, a colossal Financial Crisis and the Great Recession. As a result more and more Americans in their golden years have taken on student loan debt for their children or grandchildren. According to a report from the Consumer Financial Protection Bureau, the number of people aged 60 […]

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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, Auto Debt Delinquencies Rise in 3rd Quarter

Jan 11th, 2017 @ 9:22 PM by Amber Nelson

While still at historically low levels, U.S. consumer debt delinquency rates rose in the third quarter of last year, according to data from the American Bankers Association. The increases were led by jumps in auto loans and bank card loans delinquencies. The ABA Consumer Credit Delinquency Bulletin found that a composite ratio of delinquencies (late payments […]

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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 Rise to Almost 3-Year High

Jan 4th, 2017 @ 10:46 PM by Amber Nelson

Long-term fixed-rate mortgage interest rates rose to their highest level in nearly three years, according to mortgage finance giant Freddie Mac, as the markets continue to react to the Federal Reserve’s rates increases and the anticipation of the Trump presidency. During the week ended December 29, 2016, the average rate on a 30-year fixed-rate mortgage increased […]

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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. Small Businesses 2016 Sales Growth Falls But Profit Margins Rise

Dec 28th, 2016 @ 1:38 PM by Amber Nelson

American small businesses had a pretty good year, with profit margins growing compared with 2015, notwithstanding the annual sales growth rate dropped from the same period, according to financial information firm Sageworks. Small businesses – those with less than $10 million in annual revenues – saw an average of 7.3 percent growth in sales in […]

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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.

Alaska Tops List of 2016 Heaviest Credit Card Debt Loads

Dec 22nd, 2016 @ 1:32 PM by Amber Nelson

The rankings are out for the U.S. states that carried the heaviest credit card debt in 2016, and Alaska is at the top while North Dakota is at the bottom, according to CreditCards.com. “The variability between the best and the worst state is high” when it comes to handling debt, said John Pelletier, director of […]

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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 Rate, Predicts More 2017 Increases

Dec 14th, 2016 @ 9:04 PM by Amber Nelson

The Federal Reserve raised its target federal funds rate today for only the second time in the past decade, a sign of their confidence in the U.S. economy. The Federal Open Market Committee raised its rate to the range of 0.5 percent to 0.75 percent, up from 0.25 percent to 0.5 percent. The Committee had […]

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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.