DaveHarvey, on 13 May 2012 - 20:50, said:
.....and thus that borrowers who take loans at higher rates are less financially astute, and therefore more likely to default?
Borrowers may well accept and apply for a loan at a higher rate but that isn't to say that the underwriters will let it through. Higher rates versus affordability lead to more rejections.
Just having had a quick look at my defaults I see that I have
Matched (loan applied for) on the following days of the week.
Monday - 3
Tuesday - 5
Wed - 1
Thu - nil
Fri - 3
Sat - 2
Sun - 2
My w/end defaults are an A60, B36, B60, C60 and defaults are spread throughout the month from the 1st to the 28th.
Looks like Tuesday's a bad day to lend money! my 5 defaults from a Tues are A*60, B36, 2 x C60 and Y60. But for me so far Thursday lending is default free. O and not all of my defaults are high rates as I'd consider them in comparison to those still on time.
As Deddington says, you'd need to overlay your default dates/rates against the prevailing lending rates and money on offer at the times in question. What I see in my defaults isn't likely to match anyone else's spot on. Your question doesn't have a definitive answer. If you're wary of dabbling on a Sunday in case you increase your chance of defaults feel free to step back till the working week
Edited by figures18, 13 May 2012 - 21:45.