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mortgage bank rates
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NEW YORK, March 15, 2011 /PRNewswire/ -- Data through February 2011, released today by Standard & Poor's and Experian for the S&P/ Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed a decline in monthly default rates across all credit lines. Second Mortgages and bank card indices declined to 1.46% and 5.67% respectively. Auto Loan experienced a small decrease to 1.58%. First mortgage defaults fell to 2.45% with a monthly decline of over 14%. Default rates continue to fall across all major categories and year over year across the five high-lighted cities. The overall trend has lasted a number of months now, reflecting improved consumer health and the appearance of continued economic recovery," says Craig Feldman, Director at ...
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NEW YORK, Dec. 20, 2011 /PRNewswire/ -- Data through November 2011, released today by S&P Indices and Experian for the S&P/ Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that first mortgage and bank card default rates rose to 2.17% and 4.91% in November, from 2.08% and 4.85% in October, respectively. Second mortgage and auto loans default rates decreased slightly; second mortgages moved down from 1.29% in October to 1.26% in November, and auto loans from 1.22% to 1.17%. The increases in first mortgage and bank card rates, however, caused the national composite to rise from 2.15% to 2.22% As we indicated last month, the weight of first mortgage default rates tends to drive the trend in the national composite," says David...
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Loan interest rates are at historic lows, but rates and loan types are different for everybody. A good mortgage broker or bank officer will help buyers know which kind of loan is the best fit. One of the first questions we want to ask is what kind of a down payment are you looking to make? That will tell us if we can go with a conventional loan or a government-issued loan," said Naomi Farley, broker and owner of Mortgage Resources in Pasadena.
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NEW YORK, Aug. 16, 2011 /PRNewswire/ -- Data through July 2011, released today by S&P Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed that second mortgages default rates experienced the largest decrease in July from 1.40% to 1.25%. First mortgage and bank card default rates decreased to 1.93% and 5.64%, respectively, from June rates of 2.02% and 5.69%. Auto loan default rate went down slightly from 1.29% in June to 1.27% in July. By and large, July's data support the downward trend we have observed over the past two years. Despite high unemployment rates, consumers continue to improve their financial positions, resulting in lower default rates than we were seeing during the recession," say...
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Standard & Poor's downgrade of the United States credit rating Friday, followed closely by a downgrading of both Fannie Mae and Freddie Mac on Monday may impact mortgage interest rates. Chad Engler, branch lending manager for TCF Bank on North Academy Boulevard, said interest rates actually fell in response to recent events and are likely to stay at record lows for a month or so before they respond to the downgraded credit rating.
