Smart Borrower Blog

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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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.

Mortgage Rates Push Applications Down Again

Dec 7th, 2016 @ 1:14 PM by Amber Nelson

As mortgage interest rates continue to climb, applications for home loans fell again in the latest week, pushed lower by a drop in refinancing, according to the Mortgage Bankers Association. The MBA’s Market Composite Index declined 0.7 percent in the week ended Dec. 2. The Refinance Index fell 1 percent from the week before, 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.

Subprime Auto Delinquencies Reach 6-Year High

Nov 30th, 2016 @ 1:32 PM by Amber Nelson

Even as delinquencies on other types of loans continue to fall, auto loans among those with poor credit are falling behind at an alarming rate. The number of delinquent subprime auto loans rose to its highest level since 2010 in the third quarter, according to the New York Federal Reserve. “This quarter, mortgage balance growth […]

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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 Top 4 Percent for First Time in 2016

Nov 28th, 2016 @ 2:13 PM by Amber Nelson

Long-term mortgage interest rates rose last week to their highest level for the entire year, according to data from mortgage giant Freddie Mac, a continued sign of that the market expects a Trump presidency to bring stronger economic gains. The average rate on a 30-year fixed rate mortgage jumped to 4.03 percent with an average […]

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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.

Online Loan Market Shows Signs of Weakness

Nov 16th, 2016 @ 1:09 PM by Amber Nelson

Roughly $650 million in online loan securities have or are expected to reach dangerously high levels of default, according to Bloomberg. This latest news is just one of several signs that there is a growing credit weakness in the online lending market. Bloomberg reported that Avant Inc. has already had two of its large online […]

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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 Loan Delinquencies Rise to 4-Year High, Borrowing Falls

Nov 9th, 2016 @ 8:13 PM by Amber Nelson

As U.S. small businesses anticipated the results of the presidential election, they borrowed less and fell behind on their business loans at a higher rate in September. According to the Thomson/PayNet Small Business Lending Index, small business borrowing sank to a reading of 128.9, down from results,” notes William Phelan, president of PayNet. “This still […]

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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.