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Mortgage Delinquencies Edge Upward in Third Quarter
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 Delinquencies Edge Upward in Third Quarter
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 Delinquencies Edge Upward in Third Quarter

November 9, 2011 (Shirley Allen)

Mortgage delinquencies were on the rise across the nation for the first time since the end of 2009 according to TransUnion. The mortgage delinquency rate edged up to 5.88 percent at the end of the third quarter in 2011 from 5.82 in the previous quarter.

The mortgage delinquency rate increased in all but 10 states and Washington D.C. between the second and third quarters of this year. Sixty-four percent of the metropolitan areas posted an increase in delinquency rates compared to only 21 percent in the second quarter and 32 percent in the first quarter of this year.

Despite the increase, the delinquency rate was still lower than in the third quarter of last year when the delinquency rate was 6.44 percent.

“Until this quarter, we had seen six straight quarters where progressively more people were able to make their mortgage payments on time. We expected that trend to continue given recent, relatively more conservative lending policies and the apparent stabilization of both home values and unemployment,” said Tim Martin, group vice president of U.S. Housing in TransUnion’s financial services business unit. “However, in the third quarter, the consumer was hit with several unanticipated shocks, including the U.S. credit rating downgrade, stock price declines, European debt concerns, stubbornly high unemployment, more downward pressure on home values and low consumer confidence. All of this affects a borrower’s net worth and desire, or ability, to continue making house payments — especially if they are facing negative equity in their homes due to price depreciation.”

The state with the highest delinquency rate in the nation was Florida where 14.08 percent of the mortgages were delinquent, followed by Nevada at 12.39 percent and New Jersey at 7.60 percent.

The state with the lowest delinquency rate was North Dakota at 1.17 percent, followed by South Dakota at 2.33 percent and Nebraska at 2.36 percent.

The amount of mortgage debt per borrower remained virtually unchanged from the previous quarter and the previous year. The average mortgage debt per borrower in the third quarter was $190,382 compared to $189,205 in the second quarter and $190,176 in the third quarter of 2010.

Washington D.C. had the highest mortgage debt per borrower at $374,241, while borrowers in West Virginia had the lowest mortgage debt of $101,553.

Tags: TransUnion, mortgage delinquency rate, mortgage debt, mortgage payments, negative equity, price depreciation

Source:
TransUnion

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.
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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.
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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.
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November 9, 2011 (Shirley Allen)

Mortgage delinquencies were on the rise across the nation for the first time since the end of 2009 according to TransUnion. The mortgage delinquency rate edged up to 5.88 percent at the end of the third quarter in 2011 from 5.82 in the previous quarter.

The mortgage delinquency rate increased in all but 10 states and Washington D.C. between the second and third quarters of this year. Sixty-four percent of the metropolitan areas posted an increase in delinquency rates compared to only 21 percent in the second quarter and 32 percent in the first quarter of this year.

Despite the increase, the delinquency rate was still lower than in the third quarter of last year when the delinquency rate was 6.44 percent.

“Until this quarter, we had seen six straight quarters where progressively more people were able to make their mortgage payments on time. We expected that trend to continue given recent, relatively more conservative lending policies and the apparent stabilization of both home values and unemployment,” said Tim Martin, group vice president of U.S. Housing in TransUnion’s financial services business unit. “However, in the third quarter, the consumer was hit with several unanticipated shocks, including the U.S. credit rating downgrade, stock price declines, European debt concerns, stubbornly high unemployment, more downward pressure on home values and low consumer confidence. All of this affects a borrower’s net worth and desire, or ability, to continue making house payments — especially if they are facing negative equity in their homes due to price depreciation.”

The state with the highest delinquency rate in the nation was Florida where 14.08 percent of the mortgages were delinquent, followed by Nevada at 12.39 percent and New Jersey at 7.60 percent.

The state with the lowest delinquency rate was North Dakota at 1.17 percent, followed by South Dakota at 2.33 percent and Nebraska at 2.36 percent.

The amount of mortgage debt per borrower remained virtually unchanged from the previous quarter and the previous year. The average mortgage debt per borrower in the third quarter was $190,382 compared to $189,205 in the second quarter and $190,176 in the third quarter of 2010.

Washington D.C. had the highest mortgage debt per borrower at $374,241, while borrowers in West Virginia had the lowest mortgage debt of $101,553.

Tags: TransUnion, mortgage delinquency rate, mortgage debt, mortgage payments, negative equity, price depreciation

Source:
TransUnion

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

November 9, 2011 (Shirley Allen)

Mortgage delinquencies were on the rise across the nation for the first time since the end of 2009 according to TransUnion. The mortgage delinquency rate edged up to 5.88 percent at the end of the third quarter in 2011 from 5.82 in the previous quarter.

The mortgage delinquency rate increased in all but 10 states and Washington D.C. between the second and third quarters of this year. Sixty-four percent of the metropolitan areas posted an increase in delinquency rates compared to only 21 percent in the second quarter and 32 percent in the first quarter of this year.

Despite the increase, the delinquency rate was still lower than in the third quarter of last year when the delinquency rate was 6.44 percent.

“Until this quarter, we had seen six straight quarters where progressively more people were able to make their mortgage payments on time. We expected that trend to continue given recent, relatively more conservative lending policies and the apparent stabilization of both home values and unemployment,” said Tim Martin, group vice president of U.S. Housing in TransUnion’s financial services business unit. “However, in the third quarter, the consumer was hit with several unanticipated shocks, including the U.S. credit rating downgrade, stock price declines, European debt concerns, stubbornly high unemployment, more downward pressure on home values and low consumer confidence. All of this affects a borrower’s net worth and desire, or ability, to continue making house payments — especially if they are facing negative equity in their homes due to price depreciation.”

The state with the highest delinquency rate in the nation was Florida where 14.08 percent of the mortgages were delinquent, followed by Nevada at 12.39 percent and New Jersey at 7.60 percent.

The state with the lowest delinquency rate was North Dakota at 1.17 percent, followed by South Dakota at 2.33 percent and Nebraska at 2.36 percent.

The amount of mortgage debt per borrower remained virtually unchanged from the previous quarter and the previous year. The average mortgage debt per borrower in the third quarter was $190,382 compared to $189,205 in the second quarter and $190,176 in the third quarter of 2010.

Washington D.C. had the highest mortgage debt per borrower at $374,241, while borrowers in West Virginia had the lowest mortgage debt of $101,553.

Tags: TransUnion, mortgage delinquency rate, mortgage debt, mortgage payments, negative equity, price depreciation

Source:
TransUnion

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