More Subprime Applications Approved in October

Subprime loan - November 22, 2010

The per­cent­age of sub­prime loan approvals has increased for the fourth straight month. For Octo­ber, 7.6% of sub­prime loan appli­ca­tions were approved, up from 6.9% in Sep­tem­ber and 5.7% in Octo­ber 2009. That’s still off from 2006 when upwards of 45% were cleared for auto loans.