Smart Borrower Blog

Archive for March, 2018

2017 American Credit Card Debt Hit 10-year High

Mar 29th, 2018 @ 8:36 AM by Amber Nelson

U.S. consumers added more charges to their credit cards last year than they have in over a decade, accord to a new survey by personal finance website WalletHub. And even though charge-offs rates remain low, reaching such lofty debt heights does not bode well for Americans. Consumers added $92.2 billion in debt to their credit cards […]

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Fed Hikes Interest Rate to Highest Level in a Decade

Mar 21st, 2018 @ 8:19 PM by Amber Nelson

With the economy pushing forward, the Federal Reserve’s Federal Open Market Committee raised its target interest rate once again, pushing it to the highest level since 2008. During its March 21 meeting, the Fed increased its federal funds rate to 1.75%, up from 1.5%. Rates still remain well below the historical average of 5%. “The […]

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Study: Companies That Use Business Loans From the Start Are More Successful

Mar 14th, 2018 @ 8:53 PM by Amber Nelson

Small businesses that borrow small business loans are much more likely to survive and be successful than those that don’t, according to a new study. Those who start funding their companies immediately with personal loans are much less likely to do well. The study was produced by finance professors Rebel Cole of Florida Atlantic University […]

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Mortgage Rates Reach 4-Year High

Mar 8th, 2018 @ 11:45 AM by Amber Nelson

Long-term U.S. mortgage rates climbed to their highest level in over 4 years, according to data from mortgage finance company Freddie Mac, and that may spell trouble for potential homebuyers. The average rate on a 30-year fixed-rate mortgage (FRM) increased to 4.46% with an average 0.5 point for the week ended March 8, 2018, up […]

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