Smart Borrower Blog

Archive for June, 2020

Mortgage Demand Hits 11-Year High

Another week of new interest rates lows helped home purchase demand to climb to its highest level since 2009, according to data from the Mortgage Bankers Association. “Purchase applications increased to the highest level in over 11 years and for the ninth consecutive week. The housing market continues to experience the release of unrealized pent-up […]

First-Quarter Auto Payments Hit New All-time High

Before the coronavirus spread completely to the U.S., auto loan totals and monthly payments reached new record highs in the 2020 first quarter, according to data from Experian. The average total new vehicle loan rose to $33,739 with an average monthly payment of $560. Used car loans also hit new highs with the total loan […]

Government Extends Small Business PPP Relief

As businesses around the country continue to navigate the coronavirus crisis fallout, President Trump signed into law Friday new regulation that modifies the current Paycheck Protection Program. In order to better meet the needs of small businesses, the new legislation will allow PPP borrowers to reduce the share of their aid used on payroll to […]