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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.
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.
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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.
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Loan Default Rates Continue Downward Trend
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
Loan Default Rates Continue Downward Trend
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
Loan Default Rates Continue Downward Trend

October 30, 2012 (Jeff Alan)

Default rates for most consumer loan types continued their downward trend in September helping to push the S&P/Experian Consumer Credit Default Indices national composite down to 1.46 percent from 1.50 percent in August, a post recession low.

First mortgage default rates moved lower again last month, falling from 1.40 percent in August to 1.36 percent in September. It was the ninth consecutive month that first mortgage default rates have either declined or remained unchanged from the previous month.

Default rates on second mortgages also declined, falling from 0.72 percent in August to 0.64 percent in September. Second mortgage default rates were at their lowest level in over eight years.

Mortgage default rates have been steadily declining since 2009 when second mortgage default rates peaked at 4.66 percent in September of that year, followed several months later by first mortgage defaults which peaked at 5.67 percent in September of the same year.

A year ago, the default rate on first mortgages was 1.99 percent, and for second mortgages, the default rate was 1.32 percent.

Default rates on bank cards also continued to decline, falling from 3.77 percent in August to 3.70 percent in September, while for the second consecutive month, default rates on auto loans were the only category in the Index to see a monthly increase, climbing from 1.09 percent in August to 1.11 percent in September.

Last year at this time, the default rate for bank cards was 5.36 percent while auto loans had a default rate of 1.29 percent.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “We think it is very fair to say that 2012 has proven to be a period of financial repair for consumers. Consumers’ financial condition continues to improve as witnessed by these declining credit default rates.

All five of the Metropolitan Statistical Areas (MSAs) saw their composite default rate decline in the monthly Indices. New York posted the largest decline, falling 0.21 percentage points to 1.28 percent in September from 1.49 percent in August. A year ago the composite default rate in New York was 2.01 percent.

New York was followed by Los Angeles which saw its default rate fall 0.15 percentage points to 1.45 percent from 1.60 percent in August. The composite default rate in Los Angeles was 2.12 percent a year ago.

Miami saw its default rate improve by 0.14 percentage points, falling from 2.62 percent in August to 2.48 percent in September. Last year the composite default rate in Miami was 4.59 percent.

The default rate in Chicago fell 0.10 percentage points in September, declining from 1.92 percent in August to 1.82 percent. A year ago the composite default rate in Chicago was 2.47 percent.

Dallas posted the smallest decline in default rates, 0.04 percentage points, falling from 1.07 percent to 1.03 percent in September. Last year, Dallas also had the lowest composite default rate of 1.33 percent.

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

Source:
S&P/Experian

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

October 30, 2012 (Jeff Alan)

Default rates for most consumer loan types continued their downward trend in September helping to push the S&P/Experian Consumer Credit Default Indices national composite down to 1.46 percent from 1.50 percent in August, a post recession low.

First mortgage default rates moved lower again last month, falling from 1.40 percent in August to 1.36 percent in September. It was the ninth consecutive month that first mortgage default rates have either declined or remained unchanged from the previous month.

Default rates on second mortgages also declined, falling from 0.72 percent in August to 0.64 percent in September. Second mortgage default rates were at their lowest level in over eight years.

Mortgage default rates have been steadily declining since 2009 when second mortgage default rates peaked at 4.66 percent in September of that year, followed several months later by first mortgage defaults which peaked at 5.67 percent in September of the same year.

A year ago, the default rate on first mortgages was 1.99 percent, and for second mortgages, the default rate was 1.32 percent.

Default rates on bank cards also continued to decline, falling from 3.77 percent in August to 3.70 percent in September, while for the second consecutive month, default rates on auto loans were the only category in the Index to see a monthly increase, climbing from 1.09 percent in August to 1.11 percent in September.

Last year at this time, the default rate for bank cards was 5.36 percent while auto loans had a default rate of 1.29 percent.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “We think it is very fair to say that 2012 has proven to be a period of financial repair for consumers. Consumers’ financial condition continues to improve as witnessed by these declining credit default rates.

All five of the Metropolitan Statistical Areas (MSAs) saw their composite default rate decline in the monthly Indices. New York posted the largest decline, falling 0.21 percentage points to 1.28 percent in September from 1.49 percent in August. A year ago the composite default rate in New York was 2.01 percent.

New York was followed by Los Angeles which saw its default rate fall 0.15 percentage points to 1.45 percent from 1.60 percent in August. The composite default rate in Los Angeles was 2.12 percent a year ago.

Miami saw its default rate improve by 0.14 percentage points, falling from 2.62 percent in August to 2.48 percent in September. Last year the composite default rate in Miami was 4.59 percent.

The default rate in Chicago fell 0.10 percentage points in September, declining from 1.92 percent in August to 1.82 percent. A year ago the composite default rate in Chicago was 2.47 percent.

Dallas posted the smallest decline in default rates, 0.04 percentage points, falling from 1.07 percent to 1.03 percent in September. Last year, Dallas also had the lowest composite default rate of 1.33 percent.

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

Source:
S&P/Experian

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

October 30, 2012 (Jeff Alan)

Default rates for most consumer loan types continued their downward trend in September helping to push the S&P/Experian Consumer Credit Default Indices national composite down to 1.46 percent from 1.50 percent in August, a post recession low.

First mortgage default rates moved lower again last month, falling from 1.40 percent in August to 1.36 percent in September. It was the ninth consecutive month that first mortgage default rates have either declined or remained unchanged from the previous month.

Default rates on second mortgages also declined, falling from 0.72 percent in August to 0.64 percent in September. Second mortgage default rates were at their lowest level in over eight years.

Mortgage default rates have been steadily declining since 2009 when second mortgage default rates peaked at 4.66 percent in September of that year, followed several months later by first mortgage defaults which peaked at 5.67 percent in September of the same year.

A year ago, the default rate on first mortgages was 1.99 percent, and for second mortgages, the default rate was 1.32 percent.

Default rates on bank cards also continued to decline, falling from 3.77 percent in August to 3.70 percent in September, while for the second consecutive month, default rates on auto loans were the only category in the Index to see a monthly increase, climbing from 1.09 percent in August to 1.11 percent in September.

Last year at this time, the default rate for bank cards was 5.36 percent while auto loans had a default rate of 1.29 percent.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “We think it is very fair to say that 2012 has proven to be a period of financial repair for consumers. Consumers’ financial condition continues to improve as witnessed by these declining credit default rates.

All five of the Metropolitan Statistical Areas (MSAs) saw their composite default rate decline in the monthly Indices. New York posted the largest decline, falling 0.21 percentage points to 1.28 percent in September from 1.49 percent in August. A year ago the composite default rate in New York was 2.01 percent.

New York was followed by Los Angeles which saw its default rate fall 0.15 percentage points to 1.45 percent from 1.60 percent in August. The composite default rate in Los Angeles was 2.12 percent a year ago.

Miami saw its default rate improve by 0.14 percentage points, falling from 2.62 percent in August to 2.48 percent in September. Last year the composite default rate in Miami was 4.59 percent.

The default rate in Chicago fell 0.10 percentage points in September, declining from 1.92 percent in August to 1.82 percent. A year ago the composite default rate in Chicago was 2.47 percent.

Dallas posted the smallest decline in default rates, 0.04 percentage points, falling from 1.07 percent to 1.03 percent in September. Last year, Dallas also had the lowest composite default rate of 1.33 percent.

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

Source:
S&P/Experian

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