Smart Borrower Blog

Archive for October, 2016

Credit Card Delinquencies Rise among Subprime Borrowers, Energy States

Oct 26th, 2016 @ 7:36 PM by Amber Nelson

Americans with less-than-perfect credit are falling behind on their payments at a rapid rate, according to new data from credit reporting agency TransUnion, while those in states dependent on energy markets are also seeing rising credit card delinquencies. Subprime credit card accounts originated in 2015 now have a 2.95 percent 90-day delinquency rate, a large […]

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Average Student Loan Debt Hits All-time High

Oct 19th, 2016 @ 12:34 PM by Amber Nelson

Last year, U.S. college graduates finished school with the highest average student loan debt to date, according to a new reportĀ from The Institute of College Access and Success and it is very likely the class of 2016 will have an even higher load. The class of 2015 had an average undergraduate borrower debt of $30,100, […]

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Mortgage Applications Fall on Rising Rates

Oct 12th, 2016 @ 11:39 AM by Amber Nelson

The number of Americans applying for mortgage loans dropped off in the latest week, according to the latest data from the Mortgage Bankers Association. An increase in interest rates was the most likely reason borrowers were scared away from the mortgage table. “As incoming economic data reassured investors regarding U.S. growth, and financial markets returned […]

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Subprime Auto Delinquencies Climb Close to Recession Peaks

Oct 5th, 2016 @ 1:04 PM by Amber Nelson

American consumers with bad credit are falling behind on their auto loans at an alarming rate, reaching levels not far behind their all-time highs during the Great Recession. According to data from Fitch Ratings, the 60 days or more delinquency rate on subprime auto loans rose in August to 4.86 percent, up 6 percent from […]

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