Smart Borrower Blog

Archive for November, 2012

Auto Originations and Delinquencies Up in Latest Reports

Nov 28th, 2012 @ 3:08 PM by Amber Nelson

More American consumers lagged behind on their car loans in the third quarter, according to credit information company TransUnion, but delinquency rates remain near historic lows and new loan creation is growing. Between July and September of this year, the rate of borrowers late on their payments by more than 60 days increased to 0.38 […]

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New Record Low Mortgage Rates Not Enough to Keep Applications Up

Nov 23rd, 2012 @ 9:56 AM by Amber Nelson

Mortgage interest rates fell to a new all-time low this past week, according to mortgage finance company Freddie Mac, but the Mortgage Bankers Association reported a decrease in demand for mortgage applications at the same time. The average rate on a 30-year fixed rate mortgage fell to 3.31 percent, excluding points, the second week in […]

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Credit Card Debt Increased in Third Quarter

Nov 21st, 2012 @ 8:32 AM by Amber Nelson

American consumers took on more credit card debt in the third quarter of this year, according to credit agency TransUnion, but the rise falls within normal seasonal patterns, it says. Credit card borrowers carried an average debt load of $4,996 between July and September, a 4.91 percent increase from the third quarter of 2011 and […]

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Banks Turn To Payday Loans as Regulation Tightens

Nov 14th, 2012 @ 10:13 PM by Amber Nelson

As the nation’s banks look for ways to recoup their losses from recent fee regulations, some are looking to the payday-style loan to bring in extra cash. Wells Fargo and U.S. Bancorp are among the big banks who are advertising short-term loans that look an awful lot like the ill-reputed payday loans offered by strip-mall […]

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Small Business Lending Took Big Hit in September

Nov 7th, 2012 @ 12:23 PM by Amber Nelson

After rising slowly in July and August, lending to small U.S. businesses dropped to the lowest level in over a year, according to new data, a sign that does not bode well for economic growth in the next few months. The Thomson Reuters/PayNet Small Business Lending Index fell 14 percent in September to 94.1, from […]

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