Personal Loans Making Comeback
January 15th, 2010
Personal loans for items such as cars and boats are making a comeback on the tailcoats of an increasingly strengthening economy reports SMH. Fixed term loans for such items has risen by up to 38% from the lowpoint back in November 2008. The major banks have captured most of this growth. The unsecured loans are also out growing new credit cards, with increased job security allowing consumers to make more moves on bigger items such as cars.
Simon Reibelt from Oasis Home Loans Northern Beaches said this was another indication that consumers have found more confidence in borrowing, leading to a stronger housing market.