The payday loan industry is growing. In fact, it is growing so much that even banks and credit unions are getting in on the action by offering payday loan alternatives. While these newer financing products go by various different names, they are all trying to replace the same convenience and features of the traditional payday loan, chief among which is offering short-term financing to people who do not have good credit.
Latest Loans Industry Studies
Dec, 16, 2013
Oct, 22, 2013
The housing industry is built on calculated estimates, but as time passes, it is clear that this highly-researched information is merely a guess. Loans.org researched how well economists and housing professionals predicted what would change in 2013. In the next two months, this same group of economists will make housing and economic predictions for the upcoming year of 2014. Comparing the past predictions with the current statistics prove that despite heavy research, the housing industry is a fluid market and suggestions should always be taken with some discretion. 10-Year Treasury Rates
Oct, 2, 2013
Car title loan laws can change quickly. Even more confusing is that counties, cities, and towns can develop their own ways of regulating car title loan lending within their jurisdictions. In order to look at how differently each state regulates car title loans, we compiled links to each state’s laws concerning auto title financing and briefly summarized some of the key points that consumers should be aware of. Some state laws feature loopholes that allow for car title loan lending to thrive. Other states simply regulate the practice, allowing for the industry to function overtly.
Aug, 20, 2013
In an in-depth analysis of personal loan applications, loans.org found that more than half of applicants have poor credit scores ranging below 640. Cesar Diaz, founder and CEO of loans.org, said that it is important to provide several borrowing options for borrowers of all credit scores, income levels, and ages. “Being able to provide personal loans for all types of borrowers is a vital element of the lending industry,” he said. Loans.org analyzed online applications from over 1,900 potential borrowers across the United States. The applications were from December 2012 to July 2013. Our analysis reviewed the age, loan purpose, loan amount, credit quality, employment status, and yearly income of each applicant.
Jun, 28, 2013
In three short days, the interest rate for subsidized federal student loans will double. American citizens of all ages have protested against the increase, and petitioned for change, but nothing has been approved yet. Many groups have suggested fixes for the loan program, but two of the main proposals focus on either extending the interest rate for two more years, or linking the rates to yearly market values.
May, 23, 2013
Everyone knows about the Student Debt Crisis. It’s also common knowledge that different careers earn different levels of income. However, despite the different levels of income that come from various careers, for college graduates with student loan debt all that matters is how they are going to pay off their often gargantuan college-related balances.
Apr, 30, 2013
Over the past two years, the housing industry has experienced a significant change. The years leading up to 2011 were stark due to the then-recent housing crash. The subsequent years allowed for a slow, but steady strengthening. Mortgage loan interest rates have declined since 2011 and continue to remain near record lows, which assist the housing industry on multiple levels. But large changes do not happen overnight. In the period since 2011, the 30-year rate alone has dropped from a high of 5.05 percent to a record low of 3.31 percent. This large change took over 21 months to occur.
Apr, 22, 2013
The economy has been steadily recovering. While it certainly has not recovered as fast as most Americans would like, the unemployment rate has clearly been decreasing since its peak in late 2009 as the chart below shows. In late 2009, unemployment reached its highest point in recent years. The unemployment rate then began a steady decline in 2010, which then continued to fall through 2011, 2012, and into the present year of 2013.
Mar, 21, 2013
Payday loans are small, high-interest loans. They are meant for short-term borrowing, but due to high rates and easy turnover rules, they tend to roll over and accumulate into large debts. In order to prevent snowballing debt for residents, states across the country have implemented their own regulations to traffic payday loans.
Mar, 5, 2013
The recession that spawned from the financial crisis of 2007-2008 has “officially” been over for several years now. According to the National Bureau of Economic Research, the Great Recession began in 2007 and ended in June of 2009. But today, nearly four years later, the country is still struggling with unemployment, despite hollow assurances from the government that job growth continues to steadily climb.