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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
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Defaults Rates on First and Second Mortgages Hold Steady in August
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Defaults Rates on First and Second Mortgages Hold Steady in August
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Defaults Rates on First and Second Mortgages Hold Steady in August

September 21, 2011 (Jeff Alan)

Default rates on first and second mortgages remained virtually unchanged from July to August and remained well below the default levels of a year ago according to the latest S&P/Experian Consumer Credit Default Indices.

Default rates on first mortgages declined from 1.93 percent in July to 1.92 percent in August while default rates on second mortgages increased slightly from 1.25 percent in July to 1.27 percent in August.

Mortgage default rates have been on the decline since March 2009 when second mortgage default rates peaked at 4.66 percent, followed two months later when first mortgage default rates peaked at 5.67 percent in July 2009.

Auto loan default rates also increased slightly to 1.31 percent in August, up from 1.27 percent in July and bank card default rates decreased from 5.64 percent in July to 5.26 percent in August.

“While there were some moderately mixed results, the overall picture is broadly optimistic,” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices. “All indices show default rates well below where they were in the 2008/09 recession, and some are still falling. Bank cards traditionally have the highest default rates, so the decline from 5.64% in July to 5.26% in August is a good sign. The same is true for Miami, where we saw the default rates fall from 5.37% to 4.52% over the month. While not as large, the other four cities, mortgages and auto loans all saw declining or stable default rates and all of these are posting rates below 2.5%, some even below 1.5%. Again, good news for the consumer. ”

Four of the five Metropolitan Statistical Areas (MSAs) posted declines in month-over-month consumer default rates. Miami reported the largest decline from 5.37 percent in July to 4.52 percent in August, followed by Chicago which declined from 2.54 percent in July to 2.43 percent in August and Dallas’ default rate declined from 1.60 in July to 1.51 in August.

Los Angeles reported the small decline, from 2.15 in July to 2.07 percent in August while New York’s default rate remained unchanged at 1.80 percent. Default rates in all five MSAs were significantly lower than August 2010.

Tags: S&P, Experian, Consumer Credit Default Indices, mortgage default rates, auto loan default rates, bank card default rates

Source:
Standard and Poor

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

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September 21, 2011 (Jeff Alan)

Default rates on first and second mortgages remained virtually unchanged from July to August and remained well below the default levels of a year ago according to the latest S&P/Experian Consumer Credit Default Indices.

Default rates on first mortgages declined from 1.93 percent in July to 1.92 percent in August while default rates on second mortgages increased slightly from 1.25 percent in July to 1.27 percent in August.

Mortgage default rates have been on the decline since March 2009 when second mortgage default rates peaked at 4.66 percent, followed two months later when first mortgage default rates peaked at 5.67 percent in July 2009.

Auto loan default rates also increased slightly to 1.31 percent in August, up from 1.27 percent in July and bank card default rates decreased from 5.64 percent in July to 5.26 percent in August.

“While there were some moderately mixed results, the overall picture is broadly optimistic,” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices. “All indices show default rates well below where they were in the 2008/09 recession, and some are still falling. Bank cards traditionally have the highest default rates, so the decline from 5.64% in July to 5.26% in August is a good sign. The same is true for Miami, where we saw the default rates fall from 5.37% to 4.52% over the month. While not as large, the other four cities, mortgages and auto loans all saw declining or stable default rates and all of these are posting rates below 2.5%, some even below 1.5%. Again, good news for the consumer. ”

Four of the five Metropolitan Statistical Areas (MSAs) posted declines in month-over-month consumer default rates. Miami reported the largest decline from 5.37 percent in July to 4.52 percent in August, followed by Chicago which declined from 2.54 percent in July to 2.43 percent in August and Dallas’ default rate declined from 1.60 in July to 1.51 in August.

Los Angeles reported the small decline, from 2.15 in July to 2.07 percent in August while New York’s default rate remained unchanged at 1.80 percent. Default rates in all five MSAs were significantly lower than August 2010.

Tags: S&P, Experian, Consumer Credit Default Indices, mortgage default rates, auto loan default rates, bank card default rates

Source:
Standard and Poor

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

September 21, 2011 (Jeff Alan)

Default rates on first and second mortgages remained virtually unchanged from July to August and remained well below the default levels of a year ago according to the latest S&P/Experian Consumer Credit Default Indices.

Default rates on first mortgages declined from 1.93 percent in July to 1.92 percent in August while default rates on second mortgages increased slightly from 1.25 percent in July to 1.27 percent in August.

Mortgage default rates have been on the decline since March 2009 when second mortgage default rates peaked at 4.66 percent, followed two months later when first mortgage default rates peaked at 5.67 percent in July 2009.

Auto loan default rates also increased slightly to 1.31 percent in August, up from 1.27 percent in July and bank card default rates decreased from 5.64 percent in July to 5.26 percent in August.

“While there were some moderately mixed results, the overall picture is broadly optimistic,” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices. “All indices show default rates well below where they were in the 2008/09 recession, and some are still falling. Bank cards traditionally have the highest default rates, so the decline from 5.64% in July to 5.26% in August is a good sign. The same is true for Miami, where we saw the default rates fall from 5.37% to 4.52% over the month. While not as large, the other four cities, mortgages and auto loans all saw declining or stable default rates and all of these are posting rates below 2.5%, some even below 1.5%. Again, good news for the consumer. ”

Four of the five Metropolitan Statistical Areas (MSAs) posted declines in month-over-month consumer default rates. Miami reported the largest decline from 5.37 percent in July to 4.52 percent in August, followed by Chicago which declined from 2.54 percent in July to 2.43 percent in August and Dallas’ default rate declined from 1.60 in July to 1.51 in August.

Los Angeles reported the small decline, from 2.15 in July to 2.07 percent in August while New York’s default rate remained unchanged at 1.80 percent. Default rates in all five MSAs were significantly lower than August 2010.

Tags: S&P, Experian, Consumer Credit Default Indices, mortgage default rates, auto loan default rates, bank card default rates

Source:
Standard and Poor

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS