Smart Borrower Blog

Archive for the ‘Other Loans’ Category

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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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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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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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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Credit Card Debt Nears Pre-Recession High

Mar 22nd, 2017 @ 9:51 AM by Amber Nelson

American consumers have been racking up credit card in a style similar to their pre-financial crisis habits, with spending predicted to reach a ten-year high by the end of 2017. Total outstanding credit card debt jumped to $978.9 billion in the fourth quarter of 2016, a 7 percent increase from the year before and the […]

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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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U.S. Consumer Borrowing Growth Slows to 3-Year Low

Feb 15th, 2017 @ 1:39 PM by Amber Nelson

Even though American consumers continued to spend more money in December than they did in November, the increase was much lower than expected and the slowest pace since 2013. According to figures from the Federal Reserve, consumer debt increased by $14.2 billion in December 2016 from the month before. That is significantly below the $20 […]

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New Credit Card Accounts Jumped in 2016 Third Quarter

Feb 1st, 2017 @ 9:09 PM by Amber Nelson

American consumers took on more credit card debt and signed up for more cards in the third quarter of last year, according to a new report  from the American Bankers Association. The ABA’s January 2017 Credit Card Market Monitor – a report on credit card data from July to September 2016 – showed that the […]

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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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