Smart Borrower Blog

Archive for the ‘Home Equity Loans’ Category

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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Consumer Credit Debt Grows at Fastest Pace in 12 Months

Nov 8th, 2017 @ 6:40 PM by Amber Nelson

U.S. consumer borrowing jumped up in September, according to data from the Federal Reserve, fueled by a surge in auto sales and student loans. Total consumer credit debt rose $20.8 billion in September, or at a 6.6% annualized rate to $3.79 trillion in all. That is the fastest pace since November 2016. September’s growth exceeded […]

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Student Loan Delinquencies Outpace All Others

Jun 21st, 2017 @ 9:30 PM by Amber Nelson

While auto loan and credit card delinquencies are on the rise, they are extremely low compared to the rapid increase of student loans falling into delinquency. According to the Federal Reserve Bank of New York’s latest U.S. Economy in a Snapshot, “flows into serious delinquency for all loan types except student loans peaked during the […]

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Federal Reserve Raises Rates to 9-Year High

Jun 15th, 2017 @ 8:49 PM by Amber Nelson

The Federal Reserve increased its target interest rate to a range of 1 percent to 1.25 percent Wednesday, the first time in nine years the rate has been over 1 percent. The rise could affect everything from credit card rates to mortgage loans to savings rates. As promised, the Fed raised rates for the second […]

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Credit Card, Auto Debt Delinquencies Rise in 3rd Quarter

Jan 11th, 2017 @ 9:22 PM by Amber Nelson

While still at historically low levels, U.S. consumer debt delinquency rates rose in the third quarter of last year, according to data from the American Bankers Association. The increases were led by jumps in auto loans and bank card loans delinquencies. The ABA Consumer Credit Delinquency Bulletin found that a composite ratio of delinquencies (late payments […]

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Consumers Push Mortgage, Credit Card Delinquencies Lower

Jul 7th, 2016 @ 8:21 PM by Amber Nelson

U.S. consumers continued to manage their debts better in the first quarter, according to the latest report from the American Bankers Association, with delinquencies falling in seven of the 11 tracked loan categories. “More people have jobs, wages are higher, home values have increased and consumers didn’t overextend themselves during the holiday season,” said James […]

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Consumers Taking on More Debt and Handling It Better

Jun 1st, 2016 @ 8:41 PM by Amber Nelson

U.S. consumers increased their overall debt load during the first quarter of 2016, according to new data from the New York Federal Reserve, and so far they seem to be keeping up with their payments better than the previous quarter. The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit found that […]

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Mortgage Delinquencies Fell in Fourth Quarter as Auto Loan Late Payments Jumped

Apr 13th, 2016 @ 8:32 PM by Amber Nelson

U.S. mortgages and related loans fell significantly during the 2015 fourth quarter, according to recent data from the American Bankers Association. In its Consumer Credit Delinquency Bulletin the ABA reported that two out of the three home loan categories it tracks showed marked improvement. Home equity lines of credit (HELOC) delinquencies fell to 1.18 percent […]

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Consumer Delinquencies Rise in Third Quarter

Jan 13th, 2016 @ 10:50 AM by Amber Nelson

Slower economic growth helped push credit delinquencies higher during the 2015 third quarter among American consumers, according to data from the American Bankers Association. In its Consumer Credit Delinquency Bulletin, the ABA reported that the delinquency rate among closed-end loans (installment loans such as car loans and home equity loans) rose to 1.41 percent of […]

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Cash-Out Refis Jump 70 Percent in Second Quarter

Dec 16th, 2015 @ 7:45 AM by Amber Nelson

More Americans are turning to their homes again for a source of capital, according to data from mortgage data company Black Knight Financial Services, Inc., with the popularity of cash-out refinances jumping over last year. “In the second quarter of 2015, we saw cash-out refinance volumes rise almost 70 percent from the same period last […]

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