Archive for November, 2010
Mortgage Rates Rise Slightly and Housing Market Sees No Improvement
Nov 29th, 2010 @ 6:20 PM by Debbie DragonJust two weeks ago, mortgage rates were at their lowest since the housing crisis began. For a 30-year fixed mortgage, rates bottomed out at 4.17%. Rates are creeping up ever so slightly and Freddie Mac is reporting current 30-year fixed rates to be at 4.4%. 15-year rates are also up slightly, coming in this week […]
more »- Posted in Mortgage Rates
- Permalink
- No Comments »
For-Profit Colleges Blasted in Latest Report
Nov 24th, 2010 @ 9:43 PM by Amber NelsonStudents at for-profit colleges may not be eligible for government grants and student loans in the future if the Obama Administration has its way. A new study from the Education Trust, a nonprofit research and advocate group, called “Subprime Opportunity: The Unfulfilled Promise of For-Profit Colleges and Universities,” claims that for-profit colleges are essentially like […]
more »SBA Loans Are Available
Nov 22nd, 2010 @ 9:55 AM by Debbie DragonSBA loans are loans that are made through a traditional lender but are partially guaranteed by the SBA (Small Business Administration). While some people might think that the SBA makes its own loans, this is simply not true. The SBA guarantees these loans, up to 90% of the loan value so that the lender does […]
more »Credit Card Delinquencies and Charge-Offs Continue to Show Improvement
Nov 17th, 2010 @ 2:29 PM by Amber NelsonAlthough the changes are still incremental, they are in the right direction. Delinquent credit card accounts decreased in October as did credit card company charge-offs for the most part. Charge-offs are the loans that card issuers basically give up on because the borrowers are highly unlikely to repay them. This means the card issuers take […]
more »- Posted in Credit Card Debt
- Permalink
- No Comments »
Chase Top SBA Loan Lender
Nov 15th, 2010 @ 6:38 AM by Debbie DragonChase just announced that they have more than doubled their SBA or Small Business Lending and will take over as the top SBA lender for the fiscal year. They topped the next lender by helping an additional 250 businesses receive an SBA loan in 2010. SBA loans are loans that are available for small businesses […]
more »- Posted in Business Borrowing
- Permalink
- No Comments »
Mortgage Lenders Beg for Exemptions
Nov 10th, 2010 @ 3:20 PM by Amber NelsonThe Mortgage Bankers Association sent out a letter Tuesday to 8 different government departments urging/pleading with them to go easy on the new mortgage lending restrictions that will be put in place no later than spring of next year. The Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) will require mortgage lenders to retain […]
more »- Posted in Bad Credit Home Loans, Mortgages
- Permalink
- No Comments »
Small Banks Are Closing Their Doors
Nov 8th, 2010 @ 4:40 PM by Debbie DragonSmall banks across the country are being forced to shut their doors. This year alone over 140 small banks so far have closed up for good. While small banks at one time were the mainstream of America, today they are vanishing and someday may be a thing of the past. Just like many other small […]
more »- Posted in Other
- Permalink
- No Comments »
October Auto Sales Show Surprise Upswing
Nov 3rd, 2010 @ 7:21 PM by Amber NelsonHaving been hampered for many months by a down economy and limited lending credit for buyers, the auto industry has seen some hard times in 2010. Yet October’s U.S. car and truck sales figures boasted a 13.4 percent increase over last year, with 950,000 vehicles sold, the best showing in more than two years. At […]
more »- Posted in Auto Loans
- Permalink
- No Comments »
Small Business Lending Increasing
Nov 1st, 2010 @ 4:07 PM by Debbie DragonAccording to a new data from ThompsonReuters/PayNet, small business lending is on the rise. During the month of September lending was up 16% from last year at the same time. Additionally, these new figures put lending at the highest level seen in the last two years.
more »- Posted in Small Business Loans
- Permalink
- No Comments »