Smart Borrower Blog

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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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.

Mortgage Loan Limits Raised for 2019

Nov 29th, 2018 @ 9:36 PM by Amber Nelson

In response to the rise in home prices this year, the Federal Housing Finance Agency is increasing loan limits on conforming mortgage loans for 2019. The new maximum conforming loan limit will be $484,350, a 6.9% jump from 2018’s limit of $453,100. The increase roughly matches the rate of home price inflation – according to […]

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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.

Subprime Auto Lending Grew in 3rd Quarter

Nov 21st, 2018 @ 2:07 PM by Amber Nelson

Originations of auto loans among borrowers with poor credit rose in the 2018 third quarter for the first time in over two years, according to the Federal Reserve Bank of New York. The New York Fed’s “Household Debt and Credit Report found that total new subprime – those with credit scores below 620 – auto […]

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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 Foreclosures and Delinquencies Fall in Latest Year

Nov 15th, 2018 @ 8:05 AM by Amber Nelson

Mortgage borrowers did better at keeping up with their loan payments in the past year, according to new data from CoreLogic. They did so much better, in fact, that the rate of 30-day delinquencies dropped to its lowest level in almost 13 years. CoreLogic’s Loan Performance Insights report found that the percentage of home mortgage […]

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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 Defaults Could Reach 40% by 2023

Nov 7th, 2018 @ 11:22 AM by Amber Nelson

U.S. student loan borrowers are defaulting at such a steep rate that on the current trajectory as many as 40% of all borrowers could be in default within the next five years, according to a report from the Urban Institute. Student loans now make up the second-largest consumer debt category. Today there are more than […]

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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.