Smart Borrower Blog

Archive for November, 2019

Household Debt Hits Record High of $14 Trillion

Nov 20th, 2019 @ 10:08 PM by Amber Nelson

Total U.S. household debt rose 0.7% in the third quarter to $14 trillion, a new all-time high, according to data from the New York Federal Reserve. Household debt – including things like mortgages, credit cards, student loan – has now surpassed the previous high from 2008 by $1.3 trillion on an unadjusted basis. Most of […]

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Small Business Loan Approvals Continue to Reach New Heights

Nov 13th, 2019 @ 11:07 AM by Amber Nelson

With a growing economy and an ultra-low unemployment rate, lenders were more willing to approve small business loan applications in October, according to data from Biz2Credit. “With yet another interest rate cut by the Federal Reserve, small businesses are benefiting from positive economic conditions that are unrivaled in recent times,” said Biz2Credit CEO Rohit Arora. […]

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Mortgage Volume Unchanged Amid Lower Rates

Nov 6th, 2019 @ 2:36 PM by Amber Nelson

Long-term U.S. mortgage interest rates fell in the latest week, but it was not enticing enough to bring borrowers to the mortgage table, according to data from the Mortgage Bankers Association. The MBA’s mortgage application index fell 0.1% during the week ended November 6, 2019, with a 2% increase in refinance requests being offset by […]

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