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 TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Default Rates Fall Even Further
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 TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Mortgage Default Rates Fall Even Further
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
Mortgage Default Rates Fall Even Further

June 25, 2012 (Jeff Alan)

Default rates on first and second mortgages declined for a fifth consecutive month in May, helping to push the S&P/Experian Consumer Credit Default Indices national composite down 13.0 percent from 1.86 percent in April to 1.62 percent in May.

First mortgage default rates fell from 1.76 percent in April to 1.50 percent in May. It was the fifth consecutive month that first mortgage default rates have declined. Default rates on second mortgages also declined last month, falling from 0.93 percent in April to 0.88 percent in May.

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

A year ago, the default rate on first mortgages was 2.09 percent, and for second mortgages, the default rate was 1.42 percent.

Default rates on bank cards also declined, falling from 4.49 percent in April to 4.35 percent in May, while default rates on auto loans also declined from last month, falling from 1.07 percent in April to 1.03 percent in May.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “May 2012 data show continued improvements in consumer credit quality. Consumer default rates continue to fall and we are reaching new lows across all the loan types. In the last recession, default rates peaked in the spring of 2009, since then the decline has been bumpy but consistent. Only bank cards remain above their pre-recession lows.”

All five of the Metropolitan Statistical Areas (MSAs) saw default rates decline in the monthly Indices with Miami posting the largest decline in default rates for the third consecutive month, falling 0.59 percentage points to 2.55 percent in May from 3.14 percent in April. In May 2011, the default rate in Miami was 5.31 percent.

Chicago posted the second largest decline, falling 0.36 percentage points to 1.85 percent in May from 2.21 percent in April. A year ago the default rate in Chicago was 2.37 percent.

The default rate in Dallas declined by 0.31 percentage points to 0.95 percent in May from 1.25 percent in April and was also down from a year earlier when the default rate stood at 1.59 percent.

The New York area saw its default rates shrink by 0.17 percentage points in May, falling from 1.78 percent to 1.61 percent. A year ago the default rate in New York was 1.94 percent.

The smallest decline in default rates was recorded in Los Angeles, which fell 0.06 percentage points to 1.82 percent from 1.88 percent in April. In May 2011, the default rate in Los Angeles was 2.39 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

June 25, 2012 (Jeff Alan)

Default rates on first and second mortgages declined for a fifth consecutive month in May, helping to push the S&P/Experian Consumer Credit Default Indices national composite down 13.0 percent from 1.86 percent in April to 1.62 percent in May.

First mortgage default rates fell from 1.76 percent in April to 1.50 percent in May. It was the fifth consecutive month that first mortgage default rates have declined. Default rates on second mortgages also declined last month, falling from 0.93 percent in April to 0.88 percent in May.

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

A year ago, the default rate on first mortgages was 2.09 percent, and for second mortgages, the default rate was 1.42 percent.

Default rates on bank cards also declined, falling from 4.49 percent in April to 4.35 percent in May, while default rates on auto loans also declined from last month, falling from 1.07 percent in April to 1.03 percent in May.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “May 2012 data show continued improvements in consumer credit quality. Consumer default rates continue to fall and we are reaching new lows across all the loan types. In the last recession, default rates peaked in the spring of 2009, since then the decline has been bumpy but consistent. Only bank cards remain above their pre-recession lows.”

All five of the Metropolitan Statistical Areas (MSAs) saw default rates decline in the monthly Indices with Miami posting the largest decline in default rates for the third consecutive month, falling 0.59 percentage points to 2.55 percent in May from 3.14 percent in April. In May 2011, the default rate in Miami was 5.31 percent.

Chicago posted the second largest decline, falling 0.36 percentage points to 1.85 percent in May from 2.21 percent in April. A year ago the default rate in Chicago was 2.37 percent.

The default rate in Dallas declined by 0.31 percentage points to 0.95 percent in May from 1.25 percent in April and was also down from a year earlier when the default rate stood at 1.59 percent.

The New York area saw its default rates shrink by 0.17 percentage points in May, falling from 1.78 percent to 1.61 percent. A year ago the default rate in New York was 1.94 percent.

The smallest decline in default rates was recorded in Los Angeles, which fell 0.06 percentage points to 1.82 percent from 1.88 percent in April. In May 2011, the default rate in Los Angeles was 2.39 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

June 25, 2012 (Jeff Alan)

Default rates on first and second mortgages declined for a fifth consecutive month in May, helping to push the S&P/Experian Consumer Credit Default Indices national composite down 13.0 percent from 1.86 percent in April to 1.62 percent in May.

First mortgage default rates fell from 1.76 percent in April to 1.50 percent in May. It was the fifth consecutive month that first mortgage default rates have declined. Default rates on second mortgages also declined last month, falling from 0.93 percent in April to 0.88 percent in May.

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

A year ago, the default rate on first mortgages was 2.09 percent, and for second mortgages, the default rate was 1.42 percent.

Default rates on bank cards also declined, falling from 4.49 percent in April to 4.35 percent in May, while default rates on auto loans also declined from last month, falling from 1.07 percent in April to 1.03 percent in May.

David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Indices, stated, “May 2012 data show continued improvements in consumer credit quality. Consumer default rates continue to fall and we are reaching new lows across all the loan types. In the last recession, default rates peaked in the spring of 2009, since then the decline has been bumpy but consistent. Only bank cards remain above their pre-recession lows.”

All five of the Metropolitan Statistical Areas (MSAs) saw default rates decline in the monthly Indices with Miami posting the largest decline in default rates for the third consecutive month, falling 0.59 percentage points to 2.55 percent in May from 3.14 percent in April. In May 2011, the default rate in Miami was 5.31 percent.

Chicago posted the second largest decline, falling 0.36 percentage points to 1.85 percent in May from 2.21 percent in April. A year ago the default rate in Chicago was 2.37 percent.

The default rate in Dallas declined by 0.31 percentage points to 0.95 percent in May from 1.25 percent in April and was also down from a year earlier when the default rate stood at 1.59 percent.

The New York area saw its default rates shrink by 0.17 percentage points in May, falling from 1.78 percent to 1.61 percent. A year ago the default rate in New York was 1.94 percent.

The smallest decline in default rates was recorded in Los Angeles, which fell 0.06 percentage points to 1.82 percent from 1.88 percent in April. In May 2011, the default rate in Los Angeles was 2.39 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