Smart Borrower Blog

Archive for June, 2013

Rising Interest Rates Starting to Affect Mortgage Volume

Jun 26th, 2013 @ 1:18 PM by Amber Nelson

A recent forecast from mortgage giant Freddie Mac says rising mortgage rates are nothing to worry about, but the mortgage market said otherwise this week as total loan applications dropped. During the week ended June 26, the Mortgage Bankers Association’s index of home loan applications fell 3.0 percent on a seasonally adjusted basis from the […]

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Subprime Auto Loans Increase But Quality Slips

Jun 19th, 2013 @ 12:09 PM by Amber Nelson

The number of subprime auto loans, including those made to borrowers with the very worst credit, are trending upward, but the quality of those loans is being called into question. Subprime loans –  made to borrowers with credit scores of 680 or lower – accounted for 35.4 percent of all auto loans in the first […]

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Lenders and Small Business Owners Differ on Credit Scene

Jun 12th, 2013 @ 9:37 PM by Amber Nelson

Lenders say there is not enough loan demand yet small business owners say they can’t find funding, according to comments during the third annual Capital Access Innovation Summit in Washington. The summit, hosted by the National Economic Council, invited government officials, investors and entrepreneurs to brainstorm about ways to open the flow of capital to […]

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Mortgage Rates Break 4 Percent Barrier

Jun 5th, 2013 @ 8:11 PM by Amber Nelson

Long-term mortgage interest rates rose above four percent for the first time in a year-and-a-half, according to the Mortgage Bankers Association (MBA), a move that is likely to bring a rush of buyers into the housing market. In its weekly survey of mortgage applications, the MBA found that the average commitment rate, excluding points on […]

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