Subprime Auto Loan Delinquencies Hit 20-Year High

The percentage of Americans with unpaid subprime auto loans has reached a new high of 5 percent, surpassing rates seen at the height of the Great Recession in 2008. In fact, this is the highest rate of delinquent subprime car loans on record since 1996. What’s behind this alarming statistic? Market experts point to years of lax auto loan ... More

Mortgage Rates Rise Slightly as Summer Begins

The home buying season is heating up alongside summer temperatures, and U.S. mortgage rates are following suit. As June began, average rates rose slightly for the third week in a row. The 30-year fixed rate is now 3.66 percent, up incrementally from last week’s rate of 3.64 percent. Despite the upward trend, the market still remains far ... More

New Federal Rules Make Reverse Mortgages Less Risky for Seniors

Although reverse mortgages have been around for nearly three decades, financial advisors have remained skeptical due to the risks associated with these unusual financial instruments, including losing your home to foreclosure. However, the Federal Housing Administration (FHA) has recently implemented new rules to reduce both the risk and the ... More

Research Shows Young Adults Are Racking Up More Credit Card Debt Than Past Generations

A recent survey conducted by revealed a shocking statistic: More than 75 percent of young adults spend more than they earn each month. For most of these young spenders, the disturbing trend stems not from reckless spending, but from the increasingly high costs of necessities like rent, transportation and food. The result? Young ... More

Mortgage Rates Fall to 2012 Lows Due to Global Economic Unrest

The month of April saw mortgage rates plummet, hitting dramatically low rates not seen since the end of 2012, when the financial crisis sent 30-year fixed mortgage rates to an all all-time low of 3.31 percent. As May began, rates rose slightly, with a 30-year fixed mortgage at 3.83 percent and a 15-year fixed mortgage at 3.05 percent. The ... More

Zillow Research Uncovers Keywords That Help Sell Your Home Faster

Whether you’re selling your home on your own or using a real estate agent, the listing description can make all the difference in attracting buyers and getting top dollar for your property. New research from Zillow Digs has uncovered the most coveted amenities and features, which will help sell your home 30 days faster than the average ... More

Credit Cards with Cash Perks are Becoming More Prevalent

Yahoo News reports that there has never been a better time to take advantage of credit cards with cash perks, as banks and credit card companies are ramping up rewards programs and maximizing cardholder benefits. “We’re seeing higher rewards than ever,” says Matt Schulz, a senior credit industry analyst. “Issuers are really eager ... More

Buying a Home is No Longer an Attractive Tax Break for Most Americans

The Center on Budget and Policy Priorities (CBPP) has noted that consumers participating in focus groups rarely mention tax breaks as an incentive to purchase a home these days. Experts say these consumers have a point, for two reasons. With interest rates low and the standard deduction allowed by the IRS on the rise, mortgage interest is ... More

Mortgage Applications Rise 3% at Start of April

The Mortgage Bankers Association has reported a 3 percent uptick in mortgage applications as of April 1. This follows a 1 percent decrease toward the end of March, mostly attributed to a steady drop in refinance applications. Still, this month’s increase brings the market barely even with typical activity, proving we’re still recovering ... More

Two Million Homeowners Assisted Through National Foreclosure Mitigation Counseling Program

The Congressionally-funded National Foreclosure Mitigation and Counseling Program (NFMC) has reached a milestone, having assisted more than two million Americans in danger of losing their homes. The program was enacted in December 2007 amid the foreclosure crisis and substantially increased resources available to at-risk homeowners. Rese... More