Smart Borrower Blog

Archive for the ‘Mortgages’ Category

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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Auto Loan Delinquencies Rise in 3rd Quarter

Jan 31st, 2018 @ 8:57 PM by Amber Nelson

American borrowers fell behind on their car payments in greater numbers during the 2017 third quarter, according to new data from the American Bankers Association. And yet, delinquencies in many other loan categories fell, giving mixed signals about the strength of American consumer finances. The ABA Consumer Credit Delinquency Bulletin revealed that delinquencies rose in 5 […]

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Mortgage Applications Jump As Borrowers Anticipate Higher Rates

Jan 17th, 2018 @ 8:57 PM by Amber Nelson

U.S. mortgage borrowers came out in force in the latest week, according to a new report from the Mortgage Bankers Association , a likely indication that consumers see the writing on the wall when it comes to historically low interest rates. The MBA’s Market Composite Index, a measure of total home loan application volume, jumped […]

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Mortgage Interest Rates Hit 5-Month High

Dec 29th, 2017 @ 6:51 AM by Amber Nelson

The Trump tax bill and a rate hike from the Federal Reserve pushed long-term U.S. mortgage rates to their highest level since July, according to Freddie Mac, a sign that the economy is moving at a steady clip. “As we expected, mortgage rates felt the effect of last week’s surge in long-term interest rates in […]

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Mortgage Rates Sink as Investors Wait for Market Action

Dec 6th, 2017 @ 3:00 PM by Amber Nelson

Long-term mortgage interest rates fell in the latest week, according to a survey from NerdWallet, a sign that investors are unsure about the direction of the economy. The average rate on 30-year fixed-rate mortgage fell to an APR of 4.03% during the week ended December 6, 2017, down from 4.09% the week before. That is […]

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