Smart Borrower Blog

Archive for January, 2019

The South Posts Worst Student Loan Delinquencies

Student loans may be second place in size compared to mortgages when it comes to household debt, but they are first in delinquency rates, according to data from Student Loan Hero. The report found that the average delinquency rate among student loan borrowers in 100 of the nation’s largest metro area was 18.8%. (Delinquencies are […]

Government Shutdown Delays $2 billion in Small Business Loans

As the government shutdown drags into its third week, small businesses are feeling the pinch when it comes to loans. In the wake of the shutdown, the Small Business Administration has stopped approving SBA-backed small business loans, leaving many U.S. entrepreneurs strapped for cash that otherwise would have been readily available. Even the though the […]

Credit Card and Mortgage Delinquencies Rise in Latest Quarter

While still well below historical averages, several categories of consumer credit delinquencies rose in the 2018 third quarter, including credit cards and home equity loans. According to data from the American Bankers Association, delinquencies increased in six of the 11 categories tracked in the ABA Consumer Credit Delinquency Bulletin. The composite ratio – a measure […]

Falling Interest Rates Spur Mortgage Application Rebound

The number of U.S. mortgage applications soared in the latest week, according to the Mortgage Bankers Association, a result of a sharp drop in long-term interest rates. The MBA’s Market Composite Index – a measure of mortgage application volume – rose 23.5% on an unadjusted basis during the week ended Jan. 4, 2019. “Mortgage rates […]

Monthly Car Loan Payments Reach Record High

Consumers are paying more and more for their cars each month, according to data from Experian Automotive, and auto lenders are starting to feel the risks of those higher payments. The average monthly loan payment for a new-vehicle rose to an all-time high of $530 in the 2018 third quarter, a 6% increase from the […]