Smart Borrower Blog

Archive for September, 2017

Federal Reserve Leaves Rates Alone Buts Plans to Sell Off Bonds

Sep 27th, 2017 @ 12:36 PM by Amber Nelson

The U.S. central bank declined to raise its target interest rate last week, but it will start selling off its massive portfolio of bonds in October. The Federal Reserve left its federal funds rate – which affects everything from mortgage rates to car loan rates to food prices – in the range of 1 percent to […]

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CFPB Saves 2,000 Borrowers from Illegal Student Loan Lawsuits

Sep 20th, 2017 @ 12:08 PM by Amber Nelson

The Consumer Financial Protection Bureau has halted proceedings on illegal lawsuits filed by National Collegiate Student Loan Trusts, giving financial relief to roughly 2,000 student loan borrowers. The trusts pursued about 94,000 lawsuits against borrowers who defaulted between 2012 and 2016. The lawsuits were on student loans that were either too old to be collected (past […]

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Low Rates Push Mortgage Applications Higher

Sep 14th, 2017 @ 8:57 AM by Amber Nelson

Long-term mortgage rates stabilized at their year-to-date low this week, prompting U.S. borrowers to refinance their home loans again, according to recent industry reports. During the week ended September 14, 2017, the average rate on a 30-year fixed rate mortgage was unchanged from the week before, resting at 3.78 percent with an average 0.5 point, […]

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Deep-Subprime Auto Loan Delinquency Rates Hit Pre-Recession Levels

Sep 6th, 2017 @ 3:21 PM by Amber Nelson

Auto-loan borrowers with the worst credit are falling behind on their payments at a rate not seen in a decade, according to data from credit reporting agency Equifax. Deep-subprime borrowers, as they are called in the industry, have been defaulting on their auto loans at alarming rates. “Performance of recent deep subprime vintages is awful,” […]

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