Debt

March 11, 2020

Consumer Lenders Fall Victim to Coronavirus Fears

It’s hard to believe that less than three weeks ago the S&P 500 closed at an all-time high.  This was largely due to the enduring strength […]
March 10, 2020

Consumer Sentiment Spikes in February Amid Health Concerns

U.S. consumer sentiment figures for February came in higher than expected despite the recent outbreak of the coronavirus.  Consumer sentiment rose to 101.0 in February, nearly matching […]
March 9, 2020

Household Debt Tops $14 Trillion Reaching New Record

American households added $193 billion of debt in the fourth quarter, driven by a surge in mortgage loans, and overall debt levels rose to a new […]
March 5, 2020

Business Borrowing for Equipment Rises 28% in January

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed their overall new business volume for January was $9.2 billion, up 28% […]
March 4, 2020

Average FICO Score Reaches All-Time High

The average U.S. FICO score hit a record high of 703 in 2019, driven by Americans in their 30s, as a strong labor market helped people […]
February 28, 2020

Mortgage Default Drop to 15-Year Low

For the first time in 15 years, fewer than 2 million mortgaged properties lie in default or foreclosure status as of the end of January, according […]
February 27, 2020

Credit Card Delinquencies Fall, Others Edge Up

Consumer credit delinquencies were mixed in the third quarter of 2019, with delinquencies rising for the composite index of closed-end loans, according to the American Bankers […]
February 26, 2020

Foreclosures Down but Could there be a Rebound?

Foreclosure activity during 2019 fell 21% from the previous year, but a few indicators show a change in direction could be possible, according to a new […]
February 25, 2020

Looser Underwriting May Lead to Jumbo Loan Defaults

Higher home prices play a double-edged sword, reducing affordability and contributing to lenders’ deciding to ease underwriting. However, they can also help delinquent borrowers become current […]