Smart Borrower Blog

Archive for November, 2013

Mortgage Rates Fall On Mixed Data

Nov 27th, 2013 @ 1:23 PM by Amber Nelson

Bond investors trying to gauge an uncertain housing market pushed mortgage interest rates higher this week, according to data from Freddie Mac. The average rate on a 30-year fixed rate, conforming mortgage rose to 4.29 percent, excluding fees, during the week ended Nov. 27, up from 4.22 percent the week before. Rates on the 15-year […]

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Millennials Shun Credit Cards But Still Behind on Debt

Nov 20th, 2013 @ 9:36 PM by Amber Nelson

The Millennial generation – those aged 19 to 29 – are not borrowing as much as their predecessors but those who are taking on debt are not managing it well, according to a new study by Experian. Millennials carry an average of only 1.5 credit cards compared with 2 cards a piece for Generation X […]

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Motorist Borrowing Reaches All-Time High

Nov 13th, 2013 @ 1:54 PM by Amber Nelson

U.S. consumers buying cars with auto loans are borrowing more and staying on top of their payments better, according to new data from Experian Automotive. Total outstanding balances on car loans reached an all-time record high of $782.9 billion during the third quarter, up $103 billion from the same quarter in 2012. That is the […]

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Small Business Credit Hit Highest Level in 3 Years

Nov 6th, 2013 @ 9:39 PM by Amber Nelson

After being dealt a severe blow during the Great Recession, small business credit quality is on the rise again, actually reaching a three-year high. According to the recent Experian/Moody’s Analytics report, balances were up and delinquencies has dropped enough in the third quarter to bring the Small Business Credit Index up 2.3 points to 118.5, […]

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