Archive for the ‘Home Equity Loans’ Category
Household Debt Hits Record High $14 Trillion
Feb 19th, 2020 @ 3:17 PM by Amber NelsonAmericans now owe a total of $14.15 trillion in household debt, according to the Federal Reserve, the highest level ever recorded. Household debt grew by $601 billion in 2019, at the fastest pace since 2007, right before the financial crisis. “Mortgage originations, including refinances, increased significantly in the final quarter of 2019, with auto loan […]
more »Credit Card Delinquencies Dip in 3rd Quarter
Jan 15th, 2020 @ 8:44 PM by Amber NelsonAmerican consumers did better at paying off their credit card debts in the 2019 third quarter, according to the American Bankers Association, but delinquencies rose on other loan categories like car loans and home equity loans. Delinquent credit card accounts made up just 2.96% in the third quarter, down from 2.98% and still well below […]
more »Mortgage Originations Tumble to 5-Year Lows
May 15th, 2019 @ 11:58 AM by Amber NelsonEven though mortgage interest rates have remained near record lows, total new mortgage originations fell to a 5-year low during the first quarter of 2019, according to data from the Federal Reserve Bank of New York. Total originations dropped $60 billion from the previous quarter to $344 billion, the lowest level since the third quarter […]
more »Credit Card and Mortgage Delinquencies Rise in Latest Quarter
Jan 16th, 2019 @ 12:42 PM by Amber NelsonWhile still well below historical averages, several categories of consumer credit delinquencies rose in the 2018 third quarter, including credit cards and home equity loans. According to data from the American Bankers Association, delinquencies increased in six of the 11 categories tracked in the ABA Consumer Credit Delinquency Bulletin. The composite ratio – a measure […]
more »1/3 of Americans Use Credit Cards for Home Renovations
Oct 26th, 2018 @ 3:38 PM by Amber NelsonEven though Americans now have more home equity collectively than ever before, very few are tapping into that equity to pay for their home renovations, with more than a third charging their home expenses to a credit card. According to a study conducted by web site Houzz and Synchrony Financial, 36.4% of all renovation purchases […]
more »Homeowner Equity Tops All-Time High
Sep 25th, 2018 @ 9:04 PM by Amber NelsonU.S. homeowners collectively experienced a historic milestone in the 2018 second quarter – total ‘tappable’ home equity grew to a record high, according to Black Knight Inc. Black Knight’s Mortgage Monitor Report found that U.S. tappable equity jumped up to $6 trillion, a gain of $636 billion since the beginning of 2018 and triple the amount […]
more »Consumer Household Debt Tops Record High
Aug 16th, 2018 @ 8:31 PM by Amber NelsonAmericans now have more debt than ever before, according to data from the Federal Reserve Bank of New York, but serious delinquency rates have remained near historic lows. Total U.S. household debt now amounts to $13.29 trillion as the of the 2018 second quarter, up 0.6% from the first quarter. This marks the 16th straight quarterly […]
more »Refinance Applications Fall to 20-year Low
Jul 5th, 2018 @ 8:54 AM by Amber NelsonEven though mortgage interest rates dropped in the latest week, home loan requests also decreased, with refinance applications dropping to one of their lowest readings in 20 years, according to the Mortgage Bankers Association. “Financial market volatility in response to continued worries about trade resulted in both lower mortgage rates and a drop in applications […]
more »4th Quarter Consumer Delinquencies Fell to Record Levels
Apr 11th, 2018 @ 7:44 PM by Amber NelsonDelinquency 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 […]
more »Study: Companies That Use Business Loans From the Start Are More Successful
Mar 14th, 2018 @ 8:53 PM by Amber NelsonSmall 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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