Smart Borrower Blog

Archive for April, 2017

Refinances Jump as Mortgage Rates Plunge

Apr 26th, 2017 @ 8:01 PM by Amber Nelson

Long-term mortgage interest rates took a dive last week as investors worried about foreign finances and politics, clearing the path for an increase in U.S. refinance applications. According to data from mortgage giant Freddie Mac, the average rate on a 30-year fixed rate mortgage loan sank to 3.97 percent with an average of 0.5 points […]

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Subprime Auto Default Could Lead to Other Defaults

Apr 19th, 2017 @ 8:57 PM by Amber Nelson

Roughly 17 percent of U.S. consumers believe they will default on an auto loan payment over the next 12 months, fueling concerns that defaults on subprime auto loans are affecting more of the economy than predicted. According to a new survey from the UBS Evidence Lab, only about 16 percent of all current car loans […]

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Small Business Loan Approval Rates Remain Strong in March

Apr 12th, 2017 @ 9:16 PM by Amber Nelson

Small banks and institutional investors approved more U.S. small business loan applications in March , according to data from the Biz2Credit Small Business Lending Index, although approval rates fell among credit unions and alternative lenders. Small banks – those with less than $10 billion in assets – approved 48.9 percent of all small business loan […]

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Mortgage Rates Back to 2017 Lows

Apr 7th, 2017 @ 11:10 AM by Amber Nelson

Long-term mortgage interest rates fell in the latest week, nearly tying the 2017 yearly low, according to mortgage giant Freddie Mac. The move is a response to weaker stock market prices and concerns that Trump Administration tax cuts will not materialize quickly. The average rate on a 30-year fixed rate mortgage (FRM) slid to 4.10 […]

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