A new TransUnion study revealed how underserved and new-to-credit consumers significantly benefit from monitoring their credit, which “...has expanded considerably in awareness and usage over the past decade,” according to Charlie Wise, Co-Author of the study and Head of Global Research and Consulting at TransUnion.
Read More »Which States Have the Most Americans Experiencing Financial Distress?
“Financial distress can be a vicious cycle,” said Cassandra Happe, Analyst at WalletHub. “People who can’t make payments on their accounts end up damaging their credit scores, which in turn makes it more difficult for them to qualify for the best solutions to their debt.”
Read More »The (Unattainable) American Dream?
As limited supply and affordability barriers continue to hinder potential homebuyers, Bankrate surveyed how U.S. adults feel about the ever-changing housing market, revealing that nearly half of all Americans believe it's a bad time to buy, while many others believe they'll never be able to afford their dream home. Here’s what else the survey revealed.
Read More »More Than Half of Americans Fear They Will Never Own a Home
Among Americans who don’t currently own a home, 51% say they’re worried they will never attain homeownership, according to a new survey from LendingTree. Mortgage rates topped 7% last month and home prices hit new highs in June.
Read More »Freddie Mac Adds Sonu Mittal to Its Senior Operating Committee
As new Head of Single-Family Acquisitions, Freddie Mac’s latest addition will be responsible for seller engagement, credit, products, and affordable mission goals.
Read More »Mortgage Credit Availability on the Decline
“Similar to December 2022, the availability of credit has been driven lower by declining originations and shrinking industry capacity as lenders have streamlined their operations to cope with lower volumes,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
Read More »Gen Z: Economic State Making it Harder to Save
A new study from Bank of America revealed 73% of Gen Z reported that the current economic environment has made it more challenging to save. Many respondents said inflation has created even more financial stress, while surging rents or home prices have made it harder to afford day-to-day necessities.
Read More »As Originations Decline, Consumer Interest in HELOCs Inches Upward
Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”
Read More »Exploring the Latest Credit Trends
With consumer credit performance maintaining healthy levels across mortgage, auto, credit card, and personal loans, lenders continued to ramp up new account origination growth in the non-prime segment of the market near the end of 2021. TransUnion’s newly released Q4 ...
Read More »Why Credit Scores Are Rising Amid National Crisis
The average FICO credit score hit a record high of 711 this past July. This uptick to the score may come as a shock, especially since it has taken place several months “knee deep” amid a global pandemic, FICO representatives ...
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