Smart Borrower Blog

Archive for February, 2018

Auto Loan Origination Growth Takes a 9-Year Tumble

Americans bought fewer vehicles in the fourth quarter of 2017 than the previous year, according to the New York Fed Household Debt and Credit Report, with the biggest annual decline in close to a decade. During the 2017 fourth quarter, there were $142 billion in auto loans and leases originated for new and used cars […]

Credit Card Debt Can Make You Sick

Americans have spent themselves into more and more credit card debt over the past decade and a new survey finds that all that debt may be hurting more than their bottom line. A survey commissioned by NerdWallet on the psychology of credit card debt, found that 2 out of 5 credit card borrowers feel debt […]

Business Loan Approvals Rise as Optimism Soars

Large and small U.S. banks approved a greater percentage of business loan applications in January, according to new data from Biz2Credit.com. At the same time, small business owners are feeling more optimistic than ever about the economic environment. “Despite some recent bumps, the economy has done well during President Trump’s first year in office, and […]

Interest Rates Top 10-Month High

After four straight weeks of increases, long-term mortgage interest rates rose to their highest point since March 2017, according to data from mortgage financier Freddie Mac, a continued sign of strength in the U.S. economy. The average rate on a 30-year fixed-rate mortgage (FRM) grew to 4.22 percent with an average of 0.5 point during the […]