Smart Borrower Blog

Archive for April, 2020

Home Loan Requests Jump as Buyer Reenter Housing Market

Even though total mortgage application volume fell, home purchase loan requests climbed 12% in the latest weeks, according to the Mortgage Bankers Association. At the same time both mortgage rates and refinance applications fell. As several states reopened from coronavirus stay-at-home orders, home buyers seemed to resurface everywhere, in what could be a indication of […]

Student Loan Borrowers Get Some Coronavirus-induced Respite

Some 42 million Americans are getting an interest-rate breather on their student loans right now, thanks to a Trump administration action that eliminated federal loan interest charges during the COVID-19 crisis. President Donald Trump announced the decision back on March 13 when he declared a national emergency. “To help our students and their families, I’ve […]

Refinance Applications Surge as Rates Fall Again

Total U.S. mortgage applications rose last week, as interest rates tumbled to their lowest point on record, according to the Mortgage Bankers Association. The MBA’s mortgage application volume index rose 7.3% during the week ended April 15, 2020. That was led by a 10% weekly increase in refinance requests. Refinance volume was up 192% over […]

Coronavirus Tanks Auto Sales

Total U.S. car sales in March hit their lowest level in nearly a decade, according to Standard & Poor’s, another financial victim of the coronavirus shutdowns across the country. Sales fell 32% from February as many dealership showrooms were temporarily closed and most states were put on stay-at-home orders. The last week of March showed […]

Small Businesses Can Get Coronavirus Relief from New Federal Paycheck Protection Program

The economic fallout from the coronavirus measures is affecting millions of small businesses across the country. In an effort to keep them afloat, a new $350 billion small business program begins Friday as part of the multi trillion-dollar CARES Act economic rescue bill enacted last week. The Payroll Protection Program (PPP) is available for all […]