Smart Borrower Blog

Archive for July, 2013

Study: Small Business Lending Contracted in 2012

Jul 31st, 2013 @ 12:35 PM by Amber Nelson

Even though the economy and lending conditions in general improved last year, loans to small U.S. businesses declined in 2012, according to a newly released study from the Small Business Administration’s Office of Advocacy. “The economy continued to improve in 2012, as some economic indicators turned positive. Some factors that affect small firm lending showed […]

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Senate Saves Student Loans From Doubling This Fall

Jul 24th, 2013 @ 8:15 PM by Amber Nelson

The U.S. Senate approved a plan Wednesday that would lower federal student loan interest rates for now by tying them to movements of the financial markets. The temporary rate cut on federal Stafford loans expired on July 1, causing rates to double from 3.4 percent to 6.8 percent. Congress had been unable to compromise in […]

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Freddie Mac: Rising Mortgage Rates Won’t Stall Recovery

Jul 17th, 2013 @ 9:21 PM by Amber Nelson

Even though mortgage interest rates have shot up one whole percentage point in the last month, Freddie Mac’s chief economist says the increase will not put the brakes on the current U.S. housing recovery. In the Freddie Mac Executives Perspectives Blog, chief economist Frank Nothaft wrote, “The increases in rates have come about largely due […]

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Congress Fails to Lower Student Loan Rates

Jul 10th, 2013 @ 10:55 PM by Amber Nelson

Subsidized student loan interest rates will be twice as high in the fall, and so far bills to reduce the rate have been stymied by partisan politics. The government’s subsidized Stafford loans, popular with students from low- and middle-income backgrounds, had their interest rate slashed by Congress to 3.4 percent during the Great Recession down […]

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Consumers Continue to Clean Up Credit As Card Delinquencies Decline

Jul 3rd, 2013 @ 9:35 PM by Amber Nelson

Americans are more consistently paying their credit cards on time, according to the nation’s largest banks, an indication of the overall improvements in consumer finances since the Great Recession. “Consumer credit quality looks healthy”, said David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices in a statement. The […]

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