Smart Borrower Blog

Mortgage Rates Fall to 7-Week Low

Aug 18th, 2017 @ 2:00 PM by Amber Nelson

Long-term U.S. mortgage rates fell to a two-month low this week, following a week of political and economic uncertainty that pushed investors to the safety of bonds. Accoridng to mortgage giant Freddie Mac, the average 30-year fixed-rate, conventional mortgage carried a rate of 3.89 percent with 0.4 average points, during the week ended August 17, […]

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Wells Fargo Faces Fraud Charges after Auto Insurance Scandal

Aug 9th, 2017 @ 8:48 PM by Amber Nelson

Wells Fargo has found itself embroiled in yet another scandal, one that could potentially lead to hundreds of millions of dollars in legal losses. The New York Times exposed an internal Wells Fargo report that reported the bank had charged more than 800,000 of its auto loan customers for insurance they did not need or want. […]

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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.

Education Department Changes Course on Student Loan Single-Servicer Plan

Aug 3rd, 2017 @ 4:18 PM by Amber Nelson

The U.S. Department of Education is reversing course on its earlier plan to give the servicing of all federal student loans over to one company, a move motivated by criticism from lawmakers and companies who would lose out on current contracts. In May, in an effort to reduce loan payment confusion and financial waste, Education […]

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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 Treat Credit Cards Differently Than Their Parents

Jul 26th, 2017 @ 9:47 PM by Amber Nelson

The millennial generation – those between the ages of 18 and 29 – have watched their parents financial habits, and are doing things differently in many cases, especially when it comes to credit cards. First of all, a majority (67%) of Millennials do not even have a credit card account. Perhaps that has something to […]

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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 as Rates Rest

Jul 21st, 2017 @ 9:45 PM by Amber Nelson

A pause in mortgage interest rates may have helped push the volume of home loan applications higher in the latest week , according to data from the Mortgage Bankers Association. The rise came mostly from refinance requests as home purchase application volume saw little change. The MBA’s seasonally adjusted Market Composite Index, a measure 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.

Small Business Borrowing Hits High As Economy Grows

Jul 12th, 2017 @ 9:01 PM by Amber Nelson

Small business borrowing in the U.S. picked up in May rising to an 11-month high, according to new data, a good sign that demand is increasing and that small firms are feeling more confident about the economic environment. The Thomson Reuters/PayNet Small Business Lending Index, a measure of small business loan volume, increased to 137 […]

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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.

Market Changes Could Mean Looser Mortgage Standards

Jul 5th, 2017 @ 9:22 PM by Amber Nelson

Those who have been locked out of the housing market may soon catch a break. With two significant changes taking place in the U.S. mortgage realm this month, millions of would-be borrowers may be able to qualify for financing. The first change involves credit scores. The three major credit reporting agencies, Equifax, Experian, and TransUnion […]

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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 Loans Terms Lengthen as Average Affordability Drops

Jun 28th, 2017 @ 9:16 PM by Amber Nelson

The majority of Americans cannot truly afford to buy a new car, according to a new study by Bankrate.com http://www.bankrate.com/auto/new-car-affordability-survey/. The result is longer car loan terms, with some stretching as far as 8 years. “The main point of this research is to illustrate how Americans are having to overextend themselves to pay for 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.

Student Loan Delinquencies Outpace All Others

Jun 21st, 2017 @ 9:30 PM by Amber Nelson

While auto loan and credit card delinquencies are on the rise, they are extremely low compared to the rapid increase of student loans falling into delinquency. According to the Federal Reserve Bank of New York’s latest U.S. Economy in a Snapshot, “flows into serious delinquency for all loan types except student loans peaked during 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 9-Year High

Jun 15th, 2017 @ 8:49 PM by Amber Nelson

The Federal Reserve increased its target interest rate to a range of 1 percent to 1.25 percent Wednesday, the first time in nine years the rate has been over 1 percent. The rise could affect everything from credit card rates to mortgage loans to savings rates. As promised, the Fed raised rates for the second […]

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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 Fall to Lowest Level of 2017

Jun 7th, 2017 @ 7:04 PM by Amber Nelson

Interest rates on long-term mortgage loans fell to their lowest point of the year during the past week, according to data from mortgage guarantor Freddie Mac, a sign of nervous economic markets. The average rate on a 30-year fixed rate mortgage (FRM) slipped to 3.94 percent with an average 0.5 point during the week ended […]

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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.