Smart Borrower Blog

Mortgage Rates Rise, Applications Fall

Aug 24th, 2016 @ 8:46 AM by Amber Nelson

As mortgage rates continued to decline, applications for mortgage loans also fell during the latest week, according to data from the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total mortgage application volume, dropped 2.1 percent during the week ended August 19, 2016, from the week before. Most of that decline was […]

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Credit Card Use is on the Rise, But Not among Millennials

Aug 17th, 2016 @ 8:37 PM by Amber Nelson

Americans are charging more purchases to their credit cards, according to new data from the Federal Reserve, but that trend does not include the nation’s youngest generation of spenders – Millennials. The Federal Reserve Bank of New York reported Tuesday that household debt rose $35 billion, or 0.3 percent, in the second quarter of 2016, […]

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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 Lending Ticked Up in June

Aug 10th, 2016 @ 9:04 PM by Amber Nelson

U.S. small businesses increased their borrowing in June compared with the month before, but fell from the year-ago level, according to new data, a sign that the economy may continue to limp along for a few quarters. The Thomson Reuters/PayNet Small Business Lending Index rose to 138.9 in June, up from 131.1 in May. On […]

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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 Drop But Home Loan Applications Fall

Aug 4th, 2016 @ 12:24 PM by Amber Nelson

During the past week, average rates on U.S. mortgage loans fell even as applications for home loans fell from the previous week. According to data from mortgage finance company Freddie Mac, the average rate on a 30-year fixed rate conventional mortgage declined to 3.43 percent, with an average 0.5 point, during the week ended August […]

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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 System to Simplify Federal Student Loan Experience

Jul 27th, 2016 @ 8:08 PM by Amber Nelson

Last week the U.S. Department of Education laid out a new system to make repaying federal student loans a smoother process, a fulfillment of its directive from the March 2015 Student Aid Bill of Rights. Since 2015, the DOE has been surveying borrowers, student loan industry players and consumer advocated to find out how to make […]

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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.

Auto Loan Industry Continues to Boom but Not Without Risks

Jul 20th, 2016 @ 8:10 PM by Amber Nelson

The U.S. auto lending industry has been busy this year. Car loans and leases grew to a total value of $1 trillion a few months ago, with large lenders like JP Morgan Chase and Wells Fargo seeing almost double-digit growth in volume since 2015. And yet this stellar rise carries a lot of risk 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.

Large and Small Business Borrowing Slumped in May

Jul 13th, 2016 @ 3:10 PM by Amber Nelson

Two separate reports found that U.S. businesses, both large and small, cut back on borrowing in May, a sign that the economy was already on rocky ground before the tumult of Brexit in June. The Thomson Reuters/PayNet Small Business Lending Index fell to 128.6 in May from an upwardly revised 129.5 in April. The PayNet […]

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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.

Consumers Push Mortgage, Credit Card Delinquencies Lower

Jul 7th, 2016 @ 8:21 PM by Amber Nelson

U.S. consumers continued to manage their debts better in the first quarter, according to the latest report from the American Bankers Association, with delinquencies falling in seven of the 11 tracked loan categories. “More people have jobs, wages are higher, home values have increased and consumers didn’t overextend themselves during the holiday season,” said James […]

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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.

“Brexit” Brings Lower Mortgage Rates to Buyers

Jun 29th, 2016 @ 8:11 PM by Amber Nelson

In the wake of the “Brexit” vote – the U.K’s decision last week to leave the European Union – stocks have been tumbling, bringing Treasury yields and mortgage interest rates down with them. As nervous investors have pulled their money out of stocks and put it into the safety of government bonds, the 10-year U.S. […]

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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.

Study: Credit Cards Can Lead to Better Jobs

Jun 22nd, 2016 @ 7:47 PM by Amber Nelson

When Americans lose their jobs, having a credit card with a sizable limit may be the key to finding not just a new job, but a great job, according to a recent study from the National Bureau of Economic Research (NBER). Using data from 5 million TransUnion credit reports between 2001 and 2008, and information from […]

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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.

Deferred Student Loans May Keep Buyers from Getting Mortgages

Jun 15th, 2016 @ 12:01 PM by Amber Nelson

New federal regulations are likely to stop many potential American home buyers from qualifying for an FHA mortgage. Lenders will now have to take into account any student loans in deferment, a situation which many keep many younger borrowers from making a home purchase. The Federal Housing Administration (FHA) has included a new rule 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.