Smart Borrower Blog

Archive for March, 2016

PayDay Loans to Get Government Overhaul

Mar 30th, 2016 @ 8:22 PM by Amber Nelson

Payday personal loans will soon be more heavily regulated by the U.S. government, with new rules to be released in mid-May, according to the Consumer Financial Protection Bureau (CFPB). These types of loans allow borrowers to get smaller amounts of quick cash, borrowing against their future paychecks. They come with astronomically high interest rates and […]

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Mortgage Applications Fall As Rates Climb

Mar 23rd, 2016 @ 8:16 PM by Amber Nelson

After six weeks of ultra-low interest rates, a small increase led to fewer refinances and home purchases in the latest week, according to the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of total loan application volume, fell 3.3 percent during the week ended March 18, 2016. Home purchase loan requests declined by […]

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Fidelity’s New Employment Perk: Student Loan Repayment

Mar 16th, 2016 @ 8:42 PM by Amber Nelson

Catering to the greatest needs of Millenials entering the workforce, Fidelity Investments announced this week the introduction of a student loan debt repayment benefit for its employees. “Our employees and their managers told us that student loan debt was forcing them to put off major life decisions like buying a home and having a child,” […]

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Federal Reserve: Small Businesses Still Prefer Small Lenders

Mar 9th, 2016 @ 8:52 PM by Amber Nelson

U.S. small businesses found greatest acceptance and satisfaction with small (often local) banks, according to a recent survey from the Federal Reserve, although larger firms continue to be approved for loans much more often than small and startup companies. The Fed’s 2015 Small Business Credit Survey found that “traditional bank lending continues to be the primary […]

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Refinances Slow As Rates Remain Low

Mar 2nd, 2016 @ 9:57 PM by Amber Nelson

As mortgage interest rates continue to tick downward, homeowners are feeling less and less pressure to refinance, according to data from the Mortgage Bankers Association. The MBA measures the volume of refinance applications every week with its Refinance Index, which fell 7 percent on a seasonally adjusted basis during the week ended February 26, 2016, […]

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