Why Are Consumer Default Rates Rising?

first_imgHome / Daily Dose / Why Are Consumer Default Rates Rising? Share Save The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha January 15, 2019 9,118 Views Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Why Are Consumer Default Rates Rising? Sign up for DS News Daily Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribecenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Rents vs. Home Prices Next: D.C.’s Address Confidentiality Act Consumer credit default Home HOUSING Interest rates S&P 2019-01-15 Radhika Ojha in Daily Dose, Featured, Foreclosure, News Consumer default rates are rising and even though they’re least apparent in first mortgage default compared to credit cards and auto loans, the latest S&P/Experian Consumer Credit Default Indices said that this trend was a signal for caution across credit markets.The indices, which represent a comprehensive measure of changes in consumer credit defaults, indicated a rise of six basis points in the composite rate to 0.89 percent in December 2018. While the bank card default rate rose 25 basis points to 3.34 percent, auto loan default rate increased 10 basis points to 1.03 percent.The default rate on first mortgages showed the least uptick rising three basis points to 0.67 percent. Despite this rise, mortgage default levels remained slightly below the 0.68 percent recorded during the same period last year.The report noted that December 2018 was first time since January 2017 that all loan types and all major metropolitan statistical areas (MSAs) showed a higher default rate month-over-month.”The economic pictures behind the three lending sectors–autos, mortgages, and bank cards–reveal different patterns,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Down Jones Indices. “Housing is pressured by rising prices and higher mortgage rates. Sales of both new and existing homes are weakening. Auto sales were steady in 2017 and 2018 at slightly more than 17 million vehicles sold each year. Retail sales and consumer spending saw continued growth in 2018 with few signs that credit tightening was having any impact.”Additionally, Blitzer said that it was almost two years since default rates across the three sectors and all the five cities tracked by the indices rose together. “These trends, combined with gradual increases in market interest rates during 2018, point to increasing pressure on the availability of consumer credit as the economy shifts from the fast path of growth last year to what analysts expect to be a slower, more sustainable pace in 2019,” he said.Looking at the five MSAs covered by the indices, default rates in Miami increased 41 basis points to 1.93 percent due to a sharp increase in the first mortgage component in this area. New York rose 13 basis points to 0.96 percent, Chicago by four basis points to 0.88 percent, Dallas by three basis points to 0.85 percent, and Los Angeles by two basis points to 0.52 percent. Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Consumer credit default Home HOUSING Interest rates S&P Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Postlast_img read more

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GNPC: We have no hand in Toppmoller saga

first_imgThe Acting Head of Corporate Affairs Unit of the Ghana National Petroleum Corporation (GNPC), Alex Pwadura, has refuted reports that the GNPC has asked the Ghana Football Association (GFA) to appoint German coach Klaus Toppmoller as the technical director of the Black Stars.It has been claimed that the 62-year old tactician arrived in the country on Saturday to seal the deal with the Ghana FA as a technical director of the Black Stars.Other reports also suggest that the ex-Georgia coach has never been in the country to hold talks with the Ghana FA as he was reportedly on German TV last wednesday as an analyst during the UEFA Champions League.Speaking to Asempa FM Ultimate sports morning show, Alex Pwadura, insisted that GNPC has no hands with the ongoing rumours that it has instructed the Ghana FA to appoint a foreign coach as a technical director of the Black Stars.“We (GNPC) have not held any discussion wth the GFA and nobodu has discussed any issue with us regarding this ‘Toppmoller’ issue.”“We have not sign any contract with anybodu and this story is from someone’s creation and total fabrication so we distance ourselves from it,” Pwadura said. The State-run oil exploration firm signed a partnership agreement with the Ghana Football Association for the Black Stars.The deal worth 3 million dollars annually and subject to a yearly renewal for a period of 3-5 years confers on GNPC the title of headline sponsors of the senior national team.The state-run company replaces mining firm, GoldFields Ghana Limited, which ended its five-year marriage with the Black Stars in a similar role following its expiration last year.–last_img read more

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Thai Polo team in the pink, lift 2016 title

first_imgThe annual charity Pink Polo tournament was held on Saturday, Feb. 27 and saw the Thai Polo & Equestrian Club in East Pattaya swathed in just about every shade of pink imaginable. Organized by Harald Link, Chairman of B.Grimm Group and President of the Thailand Equestrian Federation (TEF), along with Nunthinee Tanner, the first lady of polo in Thailand and Chairperson of the event, the tournament is held every year to help raise funds for the Queen Sirikit Centre for Breast Cancer at King Chulalongkorn Memorial Hospital in Bangkok.The champion Thai Polo team.Along with the on-field equestrian action, the day is also synonymous with stylish attire and this year’s event once again drew crowds of sports fans, socialites and fashionistas all decked out in their weekend best. For the youngsters in attendance there were pony rides and polo lessons available as well as special activities and games at many of the sponsors’ booths sited under the shade of the palm trees.Thai Polo take on Maple Leaf in the final.A polo day would not be complete either without the traditional stopping of divots by spectators and this gave everyone in attendance a chance for one last photo op.The final match fittingly saw the home team Thai Polo outlast Maple Leaf 5 goals to 3 in an entertaining encounter, earning them Her Majesty the Queen’s trophy and bringing a fitting end to another hugely successful and enjoyable Pink Polo tournament.BMW showcased its new pink range of automobiles.Prapatsarin Sriprariyawat won the Best Hat award and Onchuma Durongdej (right) took the Best Dress award.Traditional divot stomping at Pink Polo.The youngsters had a great day with the ponies.Runner-up team Maple Leaf.last_img read more

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Drew Bracey Henderson basketball camp

first_imgKEVIN MURPHY WITH OLDER KIDS EYEING UP THE BASKET—Tijour Andrews 10-year-old from McKeesport eyeing up the basket.Kevin Murphy conducted his third annual basketball camp in memory of his nephew, Drew Bracey Henderson July 22-25.Drew was shot on Dec, 11, 2011 at a Sweet 16 birthday party in Duquesne.The free camp was held at McKeesport Salvation Army located at 821 Walnut Street; McKeesport.“We’re just trying to give the kids a positive alternative,” Murphy said. “We will have our slogan on our T-shirts which is shoot hoops not guns. We will have two age groups between ages 7-11 from 10 a.m.-12 p.m. and ages 1218 from 12:30 – 2:30 p.m.KEVIN MURPHY AND VOLUNTEERS WITH YOUNGER KIDS (Photos by J. L. Martello) LAYUP DRILLS—Tyreek Jones 17-years old from McKeesport shooting a layup.WORKING ON FREE THROWS—Saxson Mc­Kisick 11-year-old from McKeesport shooting the basketball from the free through line.SHOOTING DRILLS—David Stuvaints 9-year-old from South Side shooting the ball.TALKING BASKETBALL—Coach Kevin Murphy speaking to the younger kids.OFFENSIVE DRILLS—Islam Abdul-Rabb 15-year old learning offensive drills from Kevin Murphy.last_img read more

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Jasprit Bumrah loses top spot in ODI bowler rankings after poor NZ showing

first_imgAdvertisement gycNBA Finals | Brooklyn Vs94uWingsuit rodeo📽Sindre E9dzkq6t( IG: @_aubreyfisher @imraino ) 8p3Would you ever consider trying this?😱dulCan your students do this? 🌚dyd7dRoller skating! Powered by Firework Following India’s dismal performance in the recently concluded ODI series against New Zealand, strike bowler Jasprit Bumrah lost his top spot in the latest ICC ODI Bowling Rankings. The Mumbai Indians pacer dropped 45 rating points –  slipping down to the 2nd position, after the Men in Blues were whitewashed by the Kiwis in the 3-match ODI series. Meanwhile, Trent Boult claimed Bumrah’s place despite not participating in the ODIs against India with a hand injury.Advertisement Picture Credit: Cric TodayVirat Kohli’s Team India failed to take advantage with the new ball against New Zealand as Bumrah completed the series wicketless; the first time in his entire career. In these three games, he bowled 30 overs for 167 runs with 1 maiden and lost his crown to Boult.Virat Kohli, on the other hand, still remains the No. 1 batsman in ODIs with 869 points, but the gap between him and 2nd placed Rohit Sharma (who missed the series with a calf injury) is getting smaller, as Kohli too struggled in the recent fixtures.Advertisement The Indian skipper finished the series with 75 runs in 3 games; failing to deliver during the absence India’s other premier batsmen, Rohit Sharma and Shikhar Dhawan in the 3-match ODI series in New Zealand.Babar Azam, the Pakistani star batsman retained his position (3rd) on the recently updated list with 829 points, while Ross Taylor, after his heroics in the series was promoted one spot upward and stands on fourth with 828 points.As for the Indians the only positive to take out of this disappointing series loss are Ravindra Jadeja and Yuzvendra Chahal’s ranking upgradation. Jadeja moved 3 spots upward and now stands at No. 7 in the all-rounder’s rankings while leggie Chahal also climbed 3 places higher to the 13th spot after his fine performances in the Kiwi series – finishing as the top the wicket-taker with 6 wickets to his name despite playing the last 2 matches.But the most notable promotion in the updated rankings came through the form of Afghanistan’s Mohammad Nabi. The all-rounder overtook Ben Stokes, England’s World Cup final hero and is now the No.1 ODI all-rounder according to ICC. You may also like:Virat Kohli gives the reason as to why India were trashed by NZ in ODI seriesVirat Kohli breaks 5 year old horrible batting record against New Zealand Advertisementlast_img read more

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Whitewater Ski Swap goes Sunday at Hume Elementary

first_imgBy The Nelson Daily SportsWant to find a good deal?Simply head on down to the Hume Elementary Gymnasium on Nelson Avenue Sunday for the 19th annual Ski and Snowboard Swap. The event is the annual major fundraiser for the Whitewater Ski Team.Snowboard, telemark and touring and ski gear and clothing can be dropped off at Hume between 9-11 a.m.Twenty percent of sold items goes to the Ski Team with a $3 charge on all unsold items (maximum $10).The swap runs from 12:30 to 3 p.m. Pick-up and payout goes between 4:30-6 p.m.The Whitewater Ski Team is a non-profit organization that develops ski racers’ skills and promotes the fun in skiing through competition.The youngest skiers on the team (six to 11 years) compete on the Nancy Greene Racers. The skiers learn agility, balance and coordination from certified coaches who focus on fun and technical instruction on varied snow conditions.The Nancy Greene skiers train Saturdays from January through to March and race Sundays at local ski hills, including Phoenix near Grand Forks, Salmo, Whitewater, Summit Lake near Nakusp and Rossland’s Red Mountain. The Advanced Racers Program (11-16 years) emphasizes strong technical skiing and fun through training and competition, with coaches promoting mountain safety and technical instruction. For more information, contact Paul Osak at [email protected] or 250.352.0305 or check www.skiwhitewater.com/[email protected]last_img read more

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Decision for aquatic centre expansion needs to include impact on taxpayers and businesses

first_imgThe public will decide on the expansion of the aquatic centre fitness facilities that will cost $1.5 million at referendum this year, but local business owners want the community to have more information about the true impact of this cost before the vote.  The vision to expand the fitness centre that operates under the Grand Forks Recreation Commission has been in the works for 11 years. The first proposal went before council in 2000 with a price tag of only $240,000 but was rejected.  In 2010 the commission put it back on the table with new drawings and cost estimates. In April they recommended to the board of the Regional District of the Kootenay Boundary that the project proceed to referendum.  Brian Johnson, owner of Flexus Body Systems, questioned the decision to proceed with the expansion at the aquatic centre. Johnson noted that financial reports on the aquatic centre show losses every year. The aquatic centre announced in March that it will be closed for six weeks this fall in order to manage their budgets.  “Usually if one wants to expand a business it’s because they’re busting at the seams,” said Johnson. “Is it really worth the cost of going to referendum for this decision? If the centre is already running at a deficit, to expand into another 3000 square foot facility, it’s going to be an ongoing cost. You take a losing situation – it might not be the best investment for the future.”  Johnson said there needs to be more information provided to the public about the actual costs of the facility and the construction and consideration given to how $1.5 million could be better used in other recreation options around the community.  “With a non-profit organization like the aquatic centre, conflict (can happen) with businesses in Grand Forks who form the tax base. We were never approached to see if we had concerns. We’ve been in competition before,” Johnson added noting the lack of community input on the project.  The existing facility is 600 square feet full of equipment, accessible only by crossing the pool deck which limits access to staff availability.  “We have a maximum capacity of maybe eight to 10 people on a good day,” explained Mackey. “We’ve been running classes of close to 20 – 25 people in that space for a number of years. A lot of the initiative for this project has come from our user groups who have expressed concern.”  Mackey said that people have had to be turned away from classes because of the restrictions on the space. The new design can hold up to 50 people in the fitness centre and another 50 in the studio a total of just under 3000 square feet. Mackey said cost estimates as of November 2010 totalled upwards of $1.5 million.  The new facility would see 32 additional hours a week of operation for the fitness facility using 46 staff hours per week. One of the spin offs would be freeing over 2000 sq ft of activity rooms in the arena that potentially could be used as a youth centre for the community, explained Mackey.  The building will include environmentally friendly designs using no fossil fuels and will see a net zero increase to carbon footprint of facility.  “There’s always the question about how it’s going to impact the private sector. The private sector is demand driven, whereas the public sector is need driven. GF Rec does not compete with Flexus, Curves or Jazzercise. We offer services to all socio-economic and demographic sectors. We do not duplicate services with them,” Mackey commented.  Grand Forks council accepted the presentation made by Mackey at their Jun. 27 meeting, and made a motion at their Jul. 18 meeting to support the referendum on the expansion question at the upcoming elections in November.last_img read more

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“Darwinian Funding” Makes Losers Angry

first_imgEvolutionists love Darwinism – except when it threatens their funding.  Daniel Clery complained in Science1 this week that it means the demise of physics and chemistry in UK universities.  “Survival of the fittest” seems to be favoring the departments that provide lucrative careers.  The funding shortfall for traditional chemistry and physics is due partly, of course, to the perpetual mismatch between government stinginess and scientists’ insatiable appetites…But other forces are at work, too.  Demand for physics and chemistry classes has been steadily falling as students are lured into more career-specific courses such as sports science, forensic science, and media studies.  And the once cozy world of British academia is now a competitive marketplace in which universities must vie with each other for government research money and attract as many students as possible to maintain their income.  Some researchers suspect that current funding policies are designed to weed out the weak and concentrate resources in a smaller number of superdepartments.  “It’s a Darwinian exercise,” says [Philip] Kocienski [Leeds U. School of Chemistry].   (Emphasis added in all quotes.)Clery suggests that university departments need to stop competing and start cooperating.1Daniel Clery, “‘Darwinian’ Funding and the Demise of Physics and Chemistry,” Science, Vol 307, Issue 5710, 668-669, 4 February 2005, [DOI: 10.1126/science.307.5710.668].Sorry, Charlie, you can’t have it both ways.  If the law of the jungle is right for biology, then what is, is right.  After all, don’t the physicists say nature selected the universe we were born in?  And don’t the chemists say nature selected the building blocks of life?  So even if it means philosophical suicide, you can choose your path, but you can’t choose the consequences.  You can’t appeal to the nobler motives, because they are illusions in your view, so give it your best shot on the Malthusian dogpile (see 02/03/2005 entry).(Visited 6 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

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Proteas in series whitewash of Pakistan

first_img“I’m enjoying my role as a wicketkeeping batsman. It was a good series,” he said. When receiving the cheque for man of the match, Abbott said of his approach to bowling: “I hit the deck hard and make the batsmen play as much as possible. I work on a theory of if they miss, I hit [the stumps] or they’re edges. If I can get them playing five, even six balls in an over, I’m winning.” After posting 409 all out, the Proteas dismissed Pakistan for 156 and then bowled them out for 235 in their follow-on, to complete a one-sided, emphatic win and series victory, which extended South Africa’s lead over England at the top of the test rankings from six to 10 points. Grabbing his opportunity with both hands, the fast bowler from the Sunfoil Dolphins turned in an astonishing man of the match winning performance, knocking over 7 for 29 in Pakistan’s first innings and 2 for 39 in their second innings to finish with match figures of 9 for 68. “It was great to see them turn out and it was great to see the guys perform well wherever we went.” South Africa’s victory by an innings and 18 runs was their fifth win by an innings in their last six tests at Centurion and their 14th win against only one loss at the ground. It was also Smith’s world record 50th win as a captain. “Fifty [wins] is a wonderful achievement. When I started captaining it was something that I never thought I would get to, so I’m very, very proud to be the first man [to achieve it], very, very proud to be a South African, and, hopefully, I’m looking forward to many more [wins].” ‘Exciting’“It’s exciting,” he said, “to be on this journey with such an incredible group of cricketers, to be able to turn out results like we have. We’re pushing each other hard, hoping to achieve more and more. Smith gave Abbott a chance to finish with 10 wickets in the match by giving him the ball late in the game. At the other end, Dale Steyn was going for a five-for in Pakistan’s second innings, but when the last wicket pair of Rahat Ali and Mohammad Irfan showed some fight, adding 33, Smith chose to bring an end to the contest by handing the ball to left-arm spinner Robin Peterson, who had previously exposed the lower order’s frailty against spin in Cape Town. ‘They were the better team’“I think credit should be given to the South Africans,” he said. “They were the better team and they proved it. They utilised the conditions very well and we had no answers.” De Villiers was the top scorer on either side, making 352 runs at an average of 88, and also added 17 dismissals behind the stumps, including a world record equalling 11 in the first test at The Wanderers. Man of the seriesWhile De Villiers missed out on the man of the match award, he was named man of the series ahead of Dale Steyn, who picked up 20 wickets at 12.90 in the three matches. AB de Villiers was in the running for the man of the match award after making 121 in South Africa’s innings of 409 all out, while Hashim Amla, the world’s number one ranked test batsman, weighed in with 92. Vernon Philander enhanced his claim as an all-rounder with a career-best knock of 74. AstonishingAt Centurion, the debutant was Kyle Abbott, a late replacement for Jacques Kallis, who pulled out of the game with a right calf injury. Misbah ul-Haq, Pakistan’s captain, was magnanimous is his praise for the Proteas’ performances in the three test series, which produced home wins inside four days in the first two games before the three-day victory at Centurion. An especially impressive part of their run of success since a series win over Australia in December has been the manner in which new players have stepped in and immediately contributed. Faf du Plessis was crucial to the Proteas’ win Down Under, Rory Kleinveldt has done his bit since then with the ball, and Dean Elgar, after starting with a pair, responded with a century against New Zealand. ‘A special summer’“It was a special summer. We spent so long on the road last year. We wanted to come home and be really positive and play some exciting cricket and we were really looking forward to playing in front of our own fans,” captain Graeme Smith said at the post-match awards’ ceremony. South Africa completed a 3-0 series whitewash of world number four Pakistan inside three days at Centurion on Sunday to finish their summer test campaign with a perfect record of five wins in five tests. The series result underlined the Proteas’ status as the number one team in test cricket. He duly trapped Ali in front to bring the curtain down on an excellent series for South Africa. While South Africa has owned a very strong away record for a long time, their record at home has been slightly spotty, but it appears that series victories last year in England and Australia have helped lift the Proteas to new, very confident and effective heights. 25 Feburary 2013 Presenting a view that appears to be common to the players in the Proteas’ squad, De Villiers added: “It’s a very special group to play with, right from the management team, from [coach] Gary [Kirsten] to Kyle Abbott, who made his debut in this match, they’re all special people working together, [aiming] in the same direction. We keep our feet on the ground and work really hard.” Would you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

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