Smart Borrower Blog

Mortgage Credit Availability Rises in February

Mar 13th, 2019 @ 1:59 PM by Amber Nelson

Lenders made mortgage credit slightly easier to obtain in February, according to the Mortgage Bankers Association, being led by a loosening of jumbo loan standards. The MBA’s Mortgage Credit Availability Index (MCAI) inched to 180.1, up 0.6% from January. Increases in the index indicate loosening of mortgage standards while decreases signal tighter underwriting. The MCAI […]

Read full article »

Small Business Lending Fell 9.7% in December

Mar 6th, 2019 @ 2:49 PM by Amber Nelson

U.S. small businesses pulled back on borrowing money in December 2018, according to recent data from PayNet, perhaps a sign of lower confidence in the overall economy. The PayNet Small Business Lending Index declined 9.7% in December from November, and 7% from the year before. That represents the first yearly decrease in more than a […]

more »

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

Mortgage Delinquency Rate Falls to 18-Year Low

Feb 27th, 2019 @ 3:02 PM by Amber Nelson

U.S. mortgage borrowers kept up with their payments so well in the 2018 fourth quarter that the national mortgage delinquency rate fell to an 18-year low, according to the Mortgage Bankers Association. The seasonally adjusted delinquency rate on mortgages for one-to-four unit residential properties decreased to 4.06% of all home loans, down from 4.47% in […]

more »

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

Household Debt Tops Pre-Recession High

Feb 20th, 2019 @ 9:58 PM by Amber Nelson

Americans owed $13.54 trillion in household debt as of the 2018 fourth quarter, according to data from the Federal Reserve Bank of New York, a 0.2% increase from the third quarter and the 18th straight quarterly gain. Total household debt has surpassed even the pre-recession peak of $12.68 trillion and is 21% higher than the […]

more »

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

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 […]

more »

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

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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 […]

more »

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