Smart Borrower Blog

Archive for October, 2019

Low Mortgage Rates Squeeze Housing Inventory

Oct 16th, 2019 @ 9:39 AM by Amber Nelson

Lower mortgage interest rates have increased demand for housing, pushing current market inventory down 2.5% in September, according to Realtor.com. That’s a significantly bigger decline than August’s 1.8% decrease. And the housing supply could drop even farther in coming months. Long-term mortgage interest rates have dropped to 3.5% from 5% just a year ago. That […]

more »

Small Business Loan Approvals Hit Record High at Big Banks, Record Low at Credit Unions

Oct 9th, 2019 @ 10:20 AM by Amber Nelson

Big and small U.S. banks continued to keep the small business lending spigot wide open in September, according to data from Biz2Credit, resulting in record high approval rates. The Biz2Credit Small Business Lending Index showed that big banks – those with $10 billion or more in assets – approved 27.9% of all small business loan […]

more »

Average American Credit Card Debt Tops $8,600

Oct 3rd, 2019 @ 1:12 PM by Amber Nelson

Americans continue to rack up credit card debt, according to a new survey from WalletHub, bringing the new average credit card debt to $8,602 per household in the 2nd quarter, a 5% increase from the year before. U.S. consumers added $35.6 billion in new credit card loan debt in the 2nd quarter, the largest second […]

more »