Smart Borrower Blog

Archive for the ‘Mortgages’ Category

Mortgage Delinquency Rate Falls to 11-Year Low

Jun 13th, 2018 @ 4:19 PM by Amber Nelson

Serious mortgage delinquencies declined to their lowest level in 11 years, according to data from CoreLogic, aided by an improving economy. The rate of serious U.S. mortgage delinquencies  – home loans that are more than 90 days past due – fell to 2.1% in March from 1.9% a year earlier. The current reading is at […]

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Refinance Applications Plummet to 17-Year Low

May 24th, 2018 @ 6:54 PM by Amber Nelson

A year of steadily rising mortgage interest rates has kept many borrowers from refinancing, according to the Mortgage Bankers Association (MBA), with applications for refinance loans falling to the lowest in over 17 years. During its latest weekly survey, the MBA’ Market Composite Index, a measure of total refinance and home purchase application volume, declined […]

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Mortgage Rates Top 7-Year High

May 17th, 2018 @ 1:33 PM by Amber Nelson

It looks like rising interest rates are in the forecast for the foreseeable future. Interest rates on long-term U.S. mortgages pushed up to their highest level in 7 years this week, according to data from mortgage finance company Freddie Mac, following a major bond sell-off and speculation that the Federal Reserve might raise its own […]

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Mortgage Rates Soar to 4-Year High

Apr 25th, 2018 @ 3:08 PM by Amber Nelson

Long-term U.S. mortgage interest rates jumped up to the highest level in four years last week, according to data from mortgage guarantor Freddie Mac, being spurred upward by optimistic economic comments by Federal Reserve Officials. “Treasury yields rose ahead of the release of the Fed’s Beige Book and speeches from New York Fed President William Dudley […]

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4th Quarter Consumer Delinquencies Fell to Record Levels

Apr 11th, 2018 @ 7:44 PM by Amber Nelson

Delinquency rates across a broad-range of loan categories decreased in the 2017 fourth quarter, according to the American Bankers Association, a sign that the growing economy is helping consumers stay on top of their debt. The ABA’s Consumer Credit Delinquency Bulletin showed that delinquencies – loans that are more than 30 days past due – in […]

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Mortgage Rates Fall for 3rd Straight Week

Apr 5th, 2018 @ 1:48 PM by Amber Nelson

A week of market concern about international trade led long-term mortgage interest rates to fall again, according to data from finance company Freddie Mac. The Freddie Mac Primary Mortgage Market Survey showed that the average interest rate on a 30-year fixed rate mortgage (FRM) during the week ended April 5, 2018 was 4.40% with an […]

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Fed Hikes Interest Rate to Highest Level in a Decade

Mar 21st, 2018 @ 8:19 PM by Amber Nelson

With the economy pushing forward, the Federal Reserve’s Federal Open Market Committee raised its target interest rate once again, pushing it to the highest level since 2008. During its March 21 meeting, the Fed increased its federal funds rate to 1.75%, up from 1.5%. Rates still remain well below the historical average of 5%. “The […]

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Study: Companies That Use Business Loans From the Start Are More Successful

Mar 14th, 2018 @ 8:53 PM by Amber Nelson

Small businesses that borrow small business loans are much more likely to survive and be successful than those that don’t, according to a new study. Those who start funding their companies immediately with personal loans are much less likely to do well. The study was produced by finance professors Rebel Cole of Florida Atlantic University […]

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Mortgage Rates Reach 4-Year High

Mar 8th, 2018 @ 11:45 AM by Amber Nelson

Long-term U.S. mortgage rates climbed to their highest level in over 4 years, according to data from mortgage finance company Freddie Mac, and that may spell trouble for potential homebuyers. The average rate on a 30-year fixed-rate mortgage (FRM) increased to 4.46% with an average 0.5 point for the week ended March 8, 2018, up […]

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Interest Rates Top 10-Month High

Feb 7th, 2018 @ 3:27 PM by Amber Nelson

After four straight weeks of increases, long-term mortgage interest rates rose to their highest point since March 2017, according to data from mortgage financier Freddie Mac, a continued sign of strength in the U.S. economy. The average rate on a 30-year fixed-rate mortgage (FRM) grew to 4.22 percent with an average of 0.5 point during the […]

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