Smart Borrower Blog

Archive for the ‘Mortgages’ Category

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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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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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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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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Mortgage Rates Back to 2017 Lows

Apr 7th, 2017 @ 11:10 AM by Amber Nelson

Long-term mortgage interest rates fell in the latest week, nearly tying the 2017 yearly low, according to mortgage giant Freddie Mac. The move is a response to weaker stock market prices and concerns that Trump Administration tax cuts will not materialize quickly. The average rate on a 30-year fixed rate mortgage (FRM) slid to 4.10 […]

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Federal Reserve Raises Rates to 8-Year High

Mar 15th, 2017 @ 12:41 PM by Amber Nelson

The Federal Open Market Committee – an arm of the Federal Reserve – raised its target interest rate today, the second increase in three months, with the rate now barely back up where it was eight years ago at the end of 2008. The Fed upped its federal funds rate to the range of 0.75 […]

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Freddie Mac: Rates Hold Steady for 4 Weeks, But Likely to Rise Soon

Feb 28th, 2017 @ 10:41 AM by Amber Nelson

Long-term mortgage rates have been in a holding pattern for last four consecutive weeks, but there is very little chance they will linger near 4 percent for long, according to a recent forecast from mortgage giant Freddie Mac. During the week ended February 23, 2017, the average rate on a 30-year fixed rate mortgage (FRM) […]

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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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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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