Smart Borrower Blog

Archive for February, 2017

Freddie Mac: Rates Hold Steady for 4 Weeks, But Likely to Rise Soon

Feb 28th, 2017 @ 10:41 AM by Amber Nelson

Long-term mortgage rates have been in a holding pattern for last four consecutive weeks, but there is very little chance they will linger near 4 percent for long, according to a recent forecast from mortgage giant Freddie Mac. During the week ended February 23, 2017, the average rate on a 30-year fixed rate mortgage (FRM) […]

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U.S. Auto Loan Industry Data Continues to Raise Red Flags

Feb 22nd, 2017 @ 10:11 PM by Amber Nelson

Even as U.S. sales of cars and trucks has risen to new heights in the past year, delinquencies on auto loans are also making records and the number of loans made to subprime consumers has jumped dramatically in recent years. At the end of 2016, Americans held almost $1.2 trillion in car loan debt, a […]

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U.S. Consumer Borrowing Growth Slows to 3-Year Low

Feb 15th, 2017 @ 1:39 PM by Amber Nelson

Even though American consumers continued to spend more money in December than they did in November, the increase was much lower than expected and the slowest pace since 2013. According to figures from the Federal Reserve, consumer debt increased by $14.2 billion in December 2016 from the month before. That is significantly below the $20 […]

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Mortgage Credit Availability Increases in January

Feb 8th, 2017 @ 9:21 PM by Amber Nelson

Mortgage lenders loosened their underwriting standards slightly in January, according to new data from the Mortgage Bankers Association, making it easier for homebuyers to realize their housing dreams. “Mortgage credit availability increased for the fifth consecutive month in January, driven by increased availability of jumbo loan programs,” said Lynn Fisher, MBA’s Vice President of Research […]

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New Credit Card Accounts Jumped in 2016 Third Quarter

Feb 1st, 2017 @ 9:09 PM by Amber Nelson

American consumers took on more credit card debt and signed up for more cards in the third quarter of last year, according to a new report  from the American Bankers Association. The ABA’s January 2017 Credit Card Market Monitor – a report on credit card data from July to September 2016 – showed that the […]

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