Archive for January, 2017
Mortgage Applications Jump in Latest Week
Jan 25th, 2017 @ 9:02 PM by Amber NelsonEven as mortgage interest rates rose, the volume of mortgage applications jumped to their highest level since June 2016, according to data from the Mortgage Bankers Association. The MBA Market Composite Index, a measure of total mortgage loan application volume, climbed 4.0 percent from the previous week. Most of the increase was attributable to a […]
more »Number of Senior Citizens with Student Debt Quadrupled in Last 10 Years
Jan 18th, 2017 @ 9:38 PM by Amber NelsonThe past decade has conjured up a Mortgage Meltdown, a colossal Financial Crisis and the Great Recession. As a result more and more Americans in their golden years have taken on student loan debt for their children or grandchildren. According to a report from the Consumer Financial Protection Bureau, the number of people aged 60 […]
more »Credit Card, Auto Debt Delinquencies Rise in 3rd Quarter
Jan 11th, 2017 @ 9:22 PM by Amber NelsonWhile still at historically low levels, U.S. consumer debt delinquency rates rose in the third quarter of last year, according to data from the American Bankers Association. The increases were led by jumps in auto loans and bank card loans delinquencies. The ABA Consumer Credit Delinquency Bulletin found that a composite ratio of delinquencies (late payments […]
more »Mortgage Rates Rise to Almost 3-Year High
Jan 4th, 2017 @ 10:46 PM by Amber NelsonLong-term fixed-rate mortgage interest rates rose to their highest level in nearly three years, according to mortgage finance giant Freddie Mac, as the markets continue to react to the Federal Reserve’s rates increases and the anticipation of the Trump presidency. During the week ended December 29, 2016, the average rate on a 30-year fixed-rate mortgage increased […]
more »- Posted in Mortgage Rates, Mortgages
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