Smart Borrower Blog

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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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.

Most Millennials Want to be Small Business Owners

May 31st, 2017 @ 7:47 PM by Amber Nelson

Young Americans have a greater desire than past generations to have their own businesses, but are held back by a lack of funding and knowledge of resources, according to a new study. America’s Small Business Development Centers (America’s SBDC) released a study of generational attitudes towards entrepreneurship and found that 54 percent of Millennials –those born […]

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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.

Women Hold 64% of U.S. Student Loan Debt

May 24th, 2017 @ 9:42 PM by Amber Nelson

While women make up just over half (56 percent) of total U.S. college enrollment today, according to a new study, they carry almost two-thirds of the country’s student debt load. In the American Association of University Women’s (AAUW) recent report, several major gender discrepancies were found in student loan data. Currently, women owe $833 billion, […]

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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 Delinquency Rates Drop as Jobs Scene Improves

May 17th, 2017 @ 2:19 PM by Amber Nelson

The delinquency rate on U.S. mortgage loans fell in the 2017 first quarter, according to the Mortgage Bankers Association, an indication that job creation and wage increases were helping homeowners get current on their loans. During the first quarter, 4.71 percent of all outstanding mortgage loans on one- to four-unit residential properties were delinquent, 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.

Credit Card Spending, New Accounts Surge in Fourth Quarter

May 10th, 2017 @ 9:05 PM by Amber Nelson

American consumers now carry a total of $779 billion in debt on their credit cards, with spending increasing across all credit-tiers, and yet experts say that debt is being managed pretty well. During the fourth quarter of 2016, monthly credit card spending rose 5.1 percent among subprime borrowers on a yearly basis, according to 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.

Small Businesses Press Pause on Borrowing in March

May 3rd, 2017 @ 8:49 PM by Amber Nelson

U.S. small businesses held off on borrowing more money in March, waiting out the uncertainties of the domestic policies. According to the Thomson Reuters/PayNet Small Business Lending Index, business borrowing slipped in March to a reading of 134, down 1 percent from a year earlier. Compared with February though, the Business Lending Index rose 4 […]

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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.

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

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.