Smart Borrower Blog

Business Loan Approvals Rise as Optimism Soars

Feb 14th, 2018 @ 4:25 PM by Amber Nelson

Large and small U.S. banks approved a greater percentage of business loan applications in January, according to new data from Biz2Credit.com. At the same time, small business owners are feeling more optimistic than ever about the economic environment. “Despite some recent bumps, the economy has done well during President Trump’s first year in office, and […]

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Interest Rates Top 10-Month High

Feb 7th, 2018 @ 3:27 PM by Amber Nelson

After four straight weeks of increases, long-term mortgage interest rates rose to their highest point since March 2017, according to data from mortgage financier Freddie Mac, a continued sign of strength in the U.S. economy. The average rate on a 30-year fixed-rate mortgage (FRM) grew to 4.22 percent with an average of 0.5 point 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.

Auto Loan Delinquencies Rise in 3rd Quarter

Jan 31st, 2018 @ 8:57 PM by Amber Nelson

American borrowers fell behind on their car payments in greater numbers during the 2017 third quarter, according to new data from the American Bankers Association. And yet, delinquencies in many other loan categories fell, giving mixed signals about the strength of American consumer finances. The ABA Consumer Credit Delinquency Bulletin revealed that delinquencies rose in 5 […]

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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.

Long-term Student Loan Defaults Reach 40%

Jan 24th, 2018 @ 9:42 PM by Amber Nelson

U.S. borrowers who have had student loan debt for 15 to 20 years are defaulting at rates much higher than previously thought, according to a recent report, a sign that current college students may default on their loans at even more outrageously high rates. A report from the Brookings Institute, released earlier this month, studied 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.

Mortgage Applications Jump As Borrowers Anticipate Higher Rates

Jan 17th, 2018 @ 8:57 PM by Amber Nelson

U.S. mortgage borrowers came out in force in the latest week, according to a new report from the Mortgage Bankers Association , a likely indication that consumers see the writing on the wall when it comes to historically low interest rates. The MBA’s Market Composite Index, a measure of total home loan application volume, jumped […]

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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.

American Credit Card Debt Tops New High

Jan 10th, 2018 @ 2:57 PM by Amber Nelson

U.S. consumers pushed their credit card debt to a new record high in November, according to a survey from the Federal Reserve , and yet credit card delinquency rates remain near historic lows. The Fed reported that outstanding revolving debt – made up mostly by credit card borrowing – rose to $1.023 trillion in November, […]

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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 Borrowing Demand Rises in 3rd Quarter, Supply Remains Subdued

Jan 3rd, 2018 @ 9:34 PM by Amber Nelson

The U.S. economy is making consistent progress, causing more business owners to seek loans to grow their companies but the supply of credit is not keeping pace. According to the quarterly small business survey from Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet Corp. released last week, demand for business financing […]

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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 Interest Rates Hit 5-Month High

Dec 29th, 2017 @ 6:51 AM by Amber Nelson

The Trump tax bill and a rate hike from the Federal Reserve pushed long-term U.S. mortgage rates to their highest level since July, according to Freddie Mac, a sign that the economy is moving at a steady clip. “As we expected, mortgage rates felt the effect of last week’s surge in long-term interest rates 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.

How the New Tax Bill Will Affect Student Loan Borrowers

Dec 20th, 2017 @ 2:52 PM by Amber Nelson

U.S. student loan borrowers will not see increased taxes under the new tax bill being sent to President Donald Trump, a breath of fresh air for those already under a heavy debt burden. “The Senate tax bill represents a significant improvement over the measure passed by the House,” said Ted Mitchell president of the American […]

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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.

American Credit Card Debt Up 8% over 2016

Dec 16th, 2017 @ 11:42 PM by Amber Nelson

Even as the economy makes incremental strides forward, American credit card debt moves higher, with an 8% increase in 2017 over the previous year, according to a new survey. The 2017 NerdWallet household debt study  found that total U.S. credit card debt rose to $905 billion for this year, with an average balance of $15,654 […]

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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 Sink as Investors Wait for Market Action

Dec 6th, 2017 @ 3:00 PM by Amber Nelson

Long-term mortgage interest rates fell in the latest week, according to a survey from NerdWallet, a sign that investors are unsure about the direction of the economy. The average rate on 30-year fixed-rate mortgage fell to an APR of 4.03% during the week ended December 6, 2017, down from 4.09% the week before. That is […]

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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.