Mortgages, Auto Loan Default Rates Slide for 3rd Month
First and second mortgages and auto loans saw a decrease in default rates for the third consecutive month in March, according to the S&P/Experian Credit Default Indices.
Even the default rate with the fourth ...
Payday Lenders Eye New High in Campaign Dollars
Payday lenders are facing increased scrutiny from the new U.S. agency with authority to change the rules over their short-term loans, which are often notorious for fees that can equate to a 400 percent APR.
As the ...
Auto Lease Balances Rise Twice as Fast as Loans
Total U.S. auto lease balances increased 9 percent in March compared with a year ago, more than twice the increase in auto loan balances, which grew by 4.2 percent over the same period.
In particular, lease balances ...
Average Rate on Credit Card Offers Holds at 14.91%
The average annual percentage rate (APR) on new credit card offers was unchanged this week at 14.91 percent from the previous week, according to the CreditCards.com.
The average is composed of 100 of the most popular ...
Bank of America Profit Dips, But So Does Bad-Loan Reserve
Bank of America, the second largest U.S. bank, reported lower first-quarter profit from an accounting charge related to its debt. But results exceeded analysts’ estimates as it set aside a lower provision ...
‘Plain’ Credit Card Offers Jump to 30% of Mailings
Credit card direct mail offers for “plain vanilla” cards – those with no annual fee or rewards – have made a comeback as issuers target a stronger demand for credit.
Plain credit card offers accounted for ...
Smart Phone Swiping Could Replace Cards, Cash by 2020
By 2020, swiping with smart phones or other devices will gain mainstream acceptance as a method of payment and could replace cash and credit/debit cards for most online and in-store purchases.
That is the consensus ...
U.S. Bancorp Sees Strong Loan Growth, Reduced Credit Risk
U.S. Bancorp’s first-quarter profit surged 28 percent as growth in commercial and residential real estate lending combined with reduced credit costs.
The Minneapolis-based lender, the 9th largest bank in the ...
Tight Credit, Foreclosures Drag Down Builders’ Outlook
Tight credit, competition from foreclosures and an ongoing problem with getting accurate appraisals continue to depress the outlook of new home builders.
Builders’ confidence in the market for new, single-family ...
Chase Ink Pushes Down Average Card Rate to 14.91%
The average annual percentage rate of the most popular credit cards dropped this week to 14.91 percent, from 14.96 percent last week, according to the CreditCards.com.
This marks the sixth time this year that rates ...
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