Smart Borrower Blog

Archive for September, 2012

One in Five U.S. Households Now Has Student Debt

Sep 26th, 2012 @ 7:30 PM by Amber Nelson

A record number of Americans have student debt today, with almost one in five U.S. households still owing money on student loans, according to data from a recent survey from the Pew Research Center. There are now 22.4 million households, or 19 percent of the country, with student debt. That’s up 15 percent from 2007, […]

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Mortgage Lending Fell to 16-Year Low in 2011

Sep 19th, 2012 @ 10:01 AM by Amber Nelson

The number of mortgage loans made last year dropped dramatically, reaching a 16-year low, a likely result of strict lending standards, according to new information from federal bank regulators this week. In 2011, U.S. banks made a total of 7.1 million mortgage loans, a 10 percent decline from 2010. The total yearly count has not been […]

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Credit Card Debt, Consumer Borrowing Drop in July

Sep 12th, 2012 @ 3:31 PM by Amber Nelson

American consumers borrowed less money in July, with steep drop-offs in credit card debt off-set by small increases car and student loan debt, according to recent data from the Federal Reserve. In July, consumer debt fell to a seasonally adjusted $2.705 trillion, down $3.3 billion from June’s upwardly revised $2.708 trillion. That marks the first […]

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Subprime Auto Loans Make a Comeback

Sep 5th, 2012 @ 7:17 PM by Amber Nelson

After facing an icy lending climate for the year or two after the financial crisis, subprime consumers are no finding a much friendlier atmosphere when it comes to auto loans, according to data from Experian Automotive. For new car loans, subprime borrowers, those with less-than-perfect credit, made up 25.41 percent of all loan recipients in […]

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