Smart Borrower Blog

Archive for November, 2016

Subprime Auto Delinquencies Reach 6-Year High

Nov 30th, 2016 @ 1:32 PM by Amber Nelson

Even as delinquencies on other types of loans continue to fall, auto loans among those with poor credit are falling behind at an alarming rate. The number of delinquent subprime auto loans rose to its highest level since 2010 in the third quarter, according to the New York Federal Reserve. “This quarter, mortgage balance growth […]

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Mortgage Rates Top 4 Percent for First Time in 2016

Nov 28th, 2016 @ 2:13 PM by Amber Nelson

Long-term mortgage interest rates rose last week to their highest level for the entire year, according to data from mortgage giant Freddie Mac, a continued sign of that the market expects a Trump presidency to bring stronger economic gains. The average rate on a 30-year fixed rate mortgage jumped to 4.03 percent with an average […]

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Online Loan Market Shows Signs of Weakness

Nov 16th, 2016 @ 1:09 PM by Amber Nelson

Roughly $650 million in online loan securities have or are expected to reach dangerously high levels of default, according to Bloomberg. This latest news is just one of several signs that there is a growing credit weakness in the online lending market. Bloomberg reported that Avant Inc. has already had two of its large online […]

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Business Loan Delinquencies Rise to 4-Year High, Borrowing Falls

Nov 9th, 2016 @ 8:13 PM by Amber Nelson

As U.S. small businesses anticipated the results of the presidential election, they borrowed less and fell behind on their business loans at a higher rate in September. According to the Thomson/PayNet Small Business Lending Index, small business borrowing sank to a reading of 128.9, down from results,” notes William Phelan, president of PayNet. “This still […]

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Banks Losing Ground to Non-Bank Lenders in the Mortgage Market

Nov 2nd, 2016 @ 8:09 PM by Amber Nelson

While traditional banks have long been the major players in making mortgage loans to Americans, during the third quarter non-bank lenders originated more than half of all mortgage loans for the first time in 30 years, according to Inside Mortgage Finance. During the third quarter of 2016, among the top 50 mortgage lenders, non-banks – […]

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