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Swapalease Lease Approval Rates Up Slightly

Swapalease, an online peer-to-peer lease transfer company, reported a 70.9% lease approval rate in October, a slight increase from September’s 69.8% rate. The company said it wasn’t surprised by the modest month-over-month increase, saying consumer credit rose at a seasonally adjusted rate of just 3.3% in September, down from the 7% the month before.  And […]

California, Michigan Auto Sales to Decline as Debt-Strapped Customers Curb Purchases, Economist Says

LAS VEGAS —  Economic weaknesses in Michigan and California may dampen auto sales and financing volume, said Robert Dye, senior vice president, and chief economist at Comerica Bank. “On a regional basis, we’re seeing weakness in the Midwest, and we’re also seeing weakness in the West, so there’s an affordability issue,” Dye said in a […]

How Lenders Should Respond to the Fed’s Rate Hikes

At the end of September, the Federal Reserve made good on its promise to increase interest rates by 0.25 basis points. According to Chairman Jerome H. Powell, the American economy is experiencing “a particularly bright moment.” The Fed stated that the decision to raise rates between 2% and 2.25% was not intended to get in […]