Smart Borrower Blog

Archive for November, 2017

Car Loan Delinquencies Continue to Rise Even As Unemployment Falls

Nov 29th, 2017 @ 9:35 PM by Amber Nelson

More and more Americans are falling behind on their car loan payments, according to new data from the New York Federal Reserve , a sign of distress in the auto lending industry. At a time when the unemployment rate (now at 4.1%) is better than it has been in over 17 years, U.S. consumers should […]

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Small Business Loan Approvals by Big Banks Hit Post-Recession High

Nov 22nd, 2017 @ 9:33 PM by Amber Nelson

America’s big banks approved 25% of all small business loan requests in October, according to data from Biz2Credit, the highest level since the end of the Great Recession. The Biz2Credit Small Business Lending Index rose two-tenths of a percent from 24.8% in September. One year ago, the approval rate among big banks (those with $10 billion […]

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Utah Lowest in Nation for Student Debt Per Graduate

Nov 15th, 2017 @ 7:15 PM by Amber Nelson

College graduate debt levels vary greatly from state to state, according to a new study from The Student Loan Report, with students from the Northeast accumulating the most debt and those in the Southwest borrowing the least. Utah graduates took the prize for the very lowest student debt levels last year. Using data from the […]

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Consumer Credit Debt Grows at Fastest Pace in 12 Months

Nov 8th, 2017 @ 6:40 PM by Amber Nelson

U.S. consumer borrowing jumped up in September, according to data from the Federal Reserve, fueled by a surge in auto sales and student loans. Total consumer credit debt rose $20.8 billion in September, or at a 6.6% annualized rate to $3.79 trillion in all. That is the fastest pace since November 2016. September’s growth exceeded […]

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Mortgage Activity Drops to 9-Month Low

Nov 1st, 2017 @ 10:52 AM by Amber Nelson

As long-term U.S. mortgage interest rates moved higher, mortgage application volume fell to its lowest level since mid-February, according to data from the Mortgage Bankers Association. The MBA Market Composite Index, a measure of total mortgage loan application volume, dropped 2.6 percent in the week ended October 27, 2017, from the previous week. While home […]

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