Smart Borrower Blog

Serious Auto Loan Delinquencies Reach All-Time High

Feb 14th, 2019 @ 1:29 PM by Amber Nelson

More Americans are seriously delinquent on their car payments than ever before, according to new data from the Federal Reserve Bank of New York, a troubling sign amid a growing economy. Almost 7 million U.S. consumers are now behind on their auto loans by 90 days or more, the highest figure in the 19-year history […]

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Mortgage Applications Fall Despite Interest Rate Drop

Feb 6th, 2019 @ 10:43 AM by Amber Nelson

Mortgage application volume fell for the third consecutive week, even as interest rates took a dive, according to the Mortgage Bankers Association. The MBA’s seasonally adjusted index saw mortgage application requests fall by 2.5% in the latest week and almost 10% from the previous year. Most of that decrease came from a 5% drop 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.

The South Posts Worst Student Loan Delinquencies

Jan 30th, 2019 @ 5:16 PM by Amber Nelson

Student loans may be second place in size compared to mortgages when it comes to household debt, but they are first in delinquency rates, according to data from Student Loan Hero. The report found that the average delinquency rate among student loan borrowers in 100 of the nation’s largest metro area was 18.8%. (Delinquencies are […]

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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.

Government Shutdown Delays $2 billion in Small Business Loans

Jan 23rd, 2019 @ 10:13 PM by Amber Nelson

As the government shutdown drags into its third week, small businesses are feeling the pinch when it comes to loans. In the wake of the shutdown, the Small Business Administration has stopped approving SBA-backed small business loans, leaving many U.S. entrepreneurs strapped for cash that otherwise would have been readily available. Even the though 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.

Credit Card and Mortgage Delinquencies Rise in Latest Quarter

Jan 16th, 2019 @ 12:42 PM by Amber Nelson

While still well below historical averages, several categories of consumer credit delinquencies rose in the 2018 third quarter, including credit cards and home equity loans. According to data from the American Bankers Association, delinquencies increased in six of the 11 categories tracked in the ABA Consumer Credit Delinquency Bulletin. The composite ratio – a measure […]

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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.

Falling Interest Rates Spur Mortgage Application Rebound

Jan 9th, 2019 @ 1:48 PM by Amber Nelson

The number of U.S. mortgage applications soared in the latest week, according to the Mortgage Bankers Association, a result of a sharp drop in long-term interest rates. The MBA’s Market Composite Index – a measure of mortgage application volume – rose 23.5% on an unadjusted basis during the week ended Jan. 4, 2019. “Mortgage rates […]

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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.

Monthly Car Loan Payments Reach Record High

Jan 2nd, 2019 @ 10:55 PM by Amber Nelson

Consumers are paying more and more for their cars each month, according to data from Experian Automotive, and auto lenders are starting to feel the risks of those higher payments. The average monthly loan payment for a new-vehicle rose to an all-time high of $530 in the 2018 third quarter, a 6% increase from 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.

Home Price Appreciation Stalls for Third Month

Dec 26th, 2018 @ 10:43 PM by Amber Nelson

While home prices continue to rise compared with last year, they are slowing in their gains, according to the latest Case-Shiller Home Price Index produced by S&P Dow Jones Indices and CoreLogic, a result of mortgage rates and home prices outpacing growth and income. U.S. home prices rose 5.5% in October over the previous year, […]

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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 Debt Sets New Record High

Dec 20th, 2018 @ 10:44 PM by Amber Nelson

U.S. student loan debt has reached a new all-time high and shows no sign of backing down, according to data from Bloomberg. Total outstanding student loans grew to $1.465 trillion in November, the highest level on record and more than twice the amount of student loan debt that existed in June 2009 at the official […]

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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 Companies Tighten Up on Qualifications

Dec 12th, 2018 @ 10:25 PM by Amber Nelson

U.S. consumers are having a harder time getting the credit they want, according to a recent report from the Federal Reserve Bank of New York, perhaps a sign that lenders are nervous about rising delinquency rates. The Fed’s “Credit Access Survey” found that credit card issuers rejected 20.8% of applications in October 2018, up 14.4% […]

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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.

Small Business Lending Posts Double-Digit Growth

Dec 5th, 2018 @ 10:27 PM by Amber Nelson

U.S. small businesses borrowed much more in October, according to a new report from PayNet, growing by double-digits from September, a sign of increased investor confidence. The Thomson Reuters/PayNet Small Business Lending Index – a measure of total small business loan originations, rose 11% to a seasonally adjusted level of 148.2, up from 133.1 in September. […]

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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.