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Loans

Data shows more loans are being rejected — but why?

by Justin Ho
Nov 19, 2024
The New York Federal Reserve found that rejection rates for loan applications are higher than they were in 2023 for credit cards, auto loans, mortgages and refinances.
Nancy Vanden Houten, lead economist at Oxford Economics, said lower-income borrowers are having the most trouble with credit card and auto loan applications.
Justin Sullivan/Getty Images
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Farmers were feeling the blues, but sentiment shifted in October

by Savannah Peters
Nov 6, 2024
The Federal Reserve's easing of interest rates may be one factor that turned the mood around. Another could be the election.
A drop in interest rates is good news for farmers. Many rely on loans for their planting-season needs and can't pay them off until crops are sold.
Scott Olson/Getty Images
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Fed's rate cut influenced lending in advance. But hiring may pick up down the road.

by Kristin Schwab
Sep 19, 2024
Some effects of cheaper money won't be visible until next year, and smaller, more risk-averse businesses may be slower to respond.
Lenders were expecting a cut and had priced it into their business, says former Federal Reserve economist Karlyn Mitchell.
Chase Castor for The Washington Post via Getty Images
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What actually happens once the Fed announces an interest rate cut

by Justin Ho
Sep 16, 2024
The Federal Reserve is likely to cut rates when it meets this week. Once Fed officials announce a rate cut, the gears of monetary policy start turning.
Interest on things like credit card debt and home equity lines of credit will drop as soon as the Federal Reserve starts lowering interest rates.
Mandel Ngan/AFP via Getty Images
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bonds

A new way to invest in medical research is moving through Congress

by David Brancaccio , Ariana Rosas and Natalie White
Apr 25, 2024
The LOANS bill would make BioBonds available to researchers ready to move their emerging therapies into clinical trials.
Venture capital is the traditional funding mechanism for medical research companies, says Jason Menzo, CEO of Foundation Fighting Blindness. BioBonds would provide another revenue stream with less risk for investors.
Alessandro Biascioli/Getty Images
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High interest rates are risky business

by Sabri Ben-Achour
Jul 26, 2023
Higher interest rates hit businesses in multiple ways. The longer rates remain elevated, the harder it gets.
Corporate borrowers' interest payments have jumped, says Nick Kraemer at S&P Global Ratings.
Peter Dazeley/Getty Images
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It's getting harder to obtain loans. That's exactly what the Fed wants.

by Stephanie Hughes
Jul 18, 2023
Fewer loans means less consumer spending, and less consumer spending means lower inflation.
"Most people's financial wiggle room is pretty small, even before they have to start repaying their student loan," said Matt Schulz at LendingTree.
eric1513/Getty Images
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2023 has been a year for bankruptcy

by Kristin Schwab
May 18, 2023
More than 230 companies declared bankruptcy before the end of April. What is happening?
David’s Bridal is among the more than 230 companies that declared bankruptcy before the end of April.
Justin Sullivan/Getty Images
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Race and Economy

Native-serving financial institutions "fill gaps," but new federal rules could undermine them

by Savannah Peters
May 10, 2023
Community development financial institutions are mostly concerned about a ban on extended-term mortgages and balloon payments.
When Joshua Iron Shell decided to start his own roofing business, a Native CDFI helped him get his finances in order and secure a loan.
Courtesy Joshua Iron Shell
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Banks in Turmoil

How interest-only mortgages can be risky for borrowers and lenders

by Stephanie Hughes
May 2, 2023
These mortgages were key to the economic climate that led to the 2008 financial crisis. First Republic had a lot of them.
First Republic Bank had a lot of of interest-only loans, which can be risky for both borrowers and lenders.
Patrick T. Fallon/AFP via Getty Images
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