Lender interest – John Hesch http://johnhesch.com/ Thu, 16 Sep 2021 13:11:05 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://johnhesch.com/wp-content/uploads/2021/07/icon-150x150.png Lender interest – John Hesch http://johnhesch.com/ 32 32 30-Year Mortgage Interest Rates Mark 63rd Day Below 3% | September 16, 2021 https://johnhesch.com/30-year-mortgage-interest-rates-mark-63rd-day-below-3-september-16-2021/ Thu, 16 Sep 2021 13:11:05 +0000 https://johnhesch.com/30-year-mortgage-interest-rates-mark-63rd-day-below-3-september-16-2021/ Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. Check out mortgage rates for September […]]]>

Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Check out mortgage rates for September 16, 2021, which are up for two key terms since yesterday. (iStock)

Based on data compiled by Credible, mortgage rates have increased for shorter terms and have remained stable for longer terms since yesterday.

  • Fixed mortgage rates over 30 years: 2.750%, unchanged
  • 20-year fixed mortgage rates: 2.375%, unchanged
  • Fixed mortgage rates over 15 years: 2,000%, compared to 1.990%, +0.010
  • 10-year fixed mortgage rates: 2,000%, compared to 1.875%, + 0.125

Rates last updated on September 16, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

What does that mean: Despite today’s gradual increases in 15- and 10-year fixed mortgage rates, interest rates for all repayment terms remain at historically low levels. Whether buyers choose a longer or shorter repayment term, they will find the opportunity to realize significant interest savings. 30-year mortgage rates, the most popular mortgage term, have been below 3% for 63 consecutive days. And 10-year rates, which typically offer the lowest interest charges, have held steady at 2,000% or less for 13 consecutive days. The average mortgage interest rate is only 2.281%.

To find the best mortgage rate, start by using Credible, which can show you current mortgage and refinance rates:

Browse the rates of several lenders to make an informed decision about your home loan.

Credible, a personal finance marketplace, has 4,500 Trustpilot reviews with an average rating of 4.7 stars (out of a possible 5.0).

Looking at Mortgage Refinance Rates Today

Today’s mortgage refinance rates are largely unchanged from yesterday. The average refinancing rate is just 2.281%, the second lowest for the whole year. If you are considering refinancing an existing home, find out what refinancing rates look like:

  • Fixed refinancing rates over 30 years: 2.750%, unchanged
  • Fixed refinancing rates over 20 years: 2.375%, unchanged
  • Fixed refinancing rates over 15 years: 2,000%, unchanged
  • Fixed refinancing rates over 10 years: 2,000%, compared to 1.875%, + 0.125

Rates last updated on September 16, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

A site like Credible can be of great help when you are ready to compare mortgage refinancing loans. Credible allows you to view prequalified rates for conventional mortgages from multiple lenders within minutes. Visit Credible today to start.

Credible has received a 4.7-star rating (out of a possible 5.0) on Trustpilot and over 4,500 customer reviews who have safely compared prequalified rates.

What is a good mortgage rate?

There are many factors that influence the mortgage rate a lender can offer you. But generally, a good mortgage rate is the one that is the lowest you can qualify for based on your individual factors, such as credit history, income, other debts, down payment amount, etc.

A rate that suits your financial situation should translate into a monthly mortgage payment that you can manage, while still leaving enough room in your monthly budget for savings, investments, and an emergency fund. And a good rate should be competitive with the average rates in the geographic area where you want to buy.

Once you’ve decided on the type of home loan that’s right for you, you can compare several lenders to really find the best rates.

Current mortgage rates

The current average mortgage interest rate stands at just 2.281%, and average mortgage rates have generally remained below 3% since April 15, 2020.

Current 30-year mortgage rates

The current interest rate for a 30 year fixed rate mortgage is 2.750%. It’s the same as yesterday. Thirty years is the most common mortgage repayment term because 30-year mortgages typically give you a lower monthly payment. But they also usually come with higher interest rates, which means you’ll end up paying more interest over the life of the loan.

Current 20-year mortgage rates

The current interest rate for a 20 year fixed rate mortgage is 2.375%. It’s the same as yesterday. Shortening your repayment term by just 10 years can mean you’ll get a lower interest rate and pay less total interest over the life of the loan.

Current 15-year mortgage rates

The current interest rate for a 15 year fixed rate mortgage is 2,000%. It’s since yesterday. Fifteen-year mortgages are the second most common mortgage term. A 15-year mortgage can help you earn a lower rate than a 30-year term and pay less interest over the life of the loan, while still keeping monthly payments manageable.

Current 10-year mortgage rates

The current interest rate for a 10 year fixed rate mortgage is 2,000%. It’s since yesterday. While less common than 30- and 15-year mortgages, a 10-year fixed-rate mortgage usually gives you lower interest rates and lifetime interest charges, but a higher monthly mortgage payment.

You can explore your mortgage options in minutes by visiting Credible to compare the current rates of various lenders who offer mortgage refinances as well as home loans. Discover Credible and get prequalified today, and take a look at today’s refinance rates via the link below.

Thousands of Trustpilot reviewers rate Credible “excellent”.

Rates last updated on September 16, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

How credible mortgage rates are calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors influence the development of mortgage rates. Credible’s average mortgage rates and mortgage refinance rates are calculated based on information provided by partner lenders who compensate Credible.

The rates assume that a borrower has a credit score of 740 and borrows a conventional loan for a single family home that will be their primary residence. Rates also assume zero (or very low) discount points and a 20% deposit.

Credible mortgage rates will only give you an idea of ​​current average rates. The rate you receive may vary depending on a number of factors.

How mortgage rates have changed

Today, mortgage rates are significantly lower compared to the same period last week.

  • Fixed mortgage rates over 30 years: 2.750%, compared to 2.875% last week, -0.125
  • 20-year fixed mortgage rates: 2.375%, compared to 2.500% last week, -0.125
  • Fixed mortgage rates over 15 years: 2,000%, compared to 2.125% last week, -0.125
  • 10-year fixed mortgage rates: 2,000%, same as last week

Rates last updated on September 16, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

These rates are based on the assumptions presented here. Actual rates may vary.

If you are trying to find the right rate for your mortgage or are looking to refinance an existing home, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in minutes.

With over 4,500 reviews, Credible maintains an “excellent” Trustpilot score.

How Does the Federal Reserve Affect Mortgage Rates?

The Federal Reserve System – or “The Fed,” as it is commonly known – is the central bank of the United States. It is responsible for taking action to keep the economy secure, stable and flexible. As a result, the Fed controls the U.S. money supply and short-term interest rates, and sets the Fed Funds Rate, which is the rate banks charge when they borrow from each other on a day-to-day basis.

But the Fed doesn’t actually set mortgage rates. On the contrary, several things the Fed influences mortgage rates. For example, although mortgage rates do not reflect the federal funds rate, they tend to follow it. If this rate increases, mortgage rates generally rise in tandem.

The Fed also buys and sells mortgage-backed securities, or MBS – a set of similar loans that a large mortgage investor buys and then resells to investors in the bond market. When the Fed buys a lot of mortgage-backed securities, it creates demand in the market and lenders can make money even if they offer lower mortgage rates. So rates tend to fall when the Fed buys a lot.

When the Fed buys less MBS, demand drops and rates are likely to rise. Likewise, when the Fed raises the federal funds rate, mortgage rates will also rise.

Looking to lower your home insurance rate?

A home insurance policy can help you cover unforeseen costs you might incur during homeownership, such as structural damage and destruction or theft of personal property. Coverage can vary widely from insurer to insurer, so it’s wise to shop around and compare policy quotes.

Credible is a partner of a home insurance broker. If you are looking for a better rate on Home Insurance and consider switching providers, consider using an online broker. You can compare quotes from the top rated insurance companies in your area – it’s quick, easy, and the whole process can be done entirely online.

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question could be answered by Credible in our Money Expert column.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He was an editor and editorial assistant in the online personal finance field for four years. His work has been featured by MSN, AOL, Yahoo Finance, etc.


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Mohammad Amjad Saqib: Helping Pakistan’s Poor With Zero Interest Loans https://johnhesch.com/mohammad-amjad-saqib-helping-pakistans-poor-with-zero-interest-loans/ Sat, 11 Sep 2021 21:48:00 +0000 https://johnhesch.com/mohammad-amjad-saqib-helping-pakistans-poor-with-zero-interest-loans/ GOD SEES PURITY IN OUR INTENTIONS: In addition to offering zero-interest loans to the poor, the Akhuwat microfinance program set up in 2001 by Dr. Muhammad Amjad Saqib provides assistance in education and health, a livelihood training and other outreach services for vulnerable sectors, including transgender people. . —PHOTO WITH THE AUTHORIZATION OF THE RAMON […]]]>

GOD SEES PURITY IN OUR INTENTIONS: In addition to offering zero-interest loans to the poor, the Akhuwat microfinance program set up in 2001 by Dr. Muhammad Amjad Saqib provides assistance in education and health, a livelihood training and other outreach services for vulnerable sectors, including transgender people. . —PHOTO WITH THE AUTHORIZATION OF THE RAMON MAGSAYSAY AWARD FOUNDATION

MANILA, Philippines – Twenty years ago, a poor widow tried her luck to get a loan by approaching Mohammad Amjad Saqib.

Saqib, then managing director of the state-run Punjab Rural Support Program, still remembered how his investigation had unfolded in his office in Lahore, Pakistan.

“” If you give your sister a loan of $ 100, are you going to get $ 110 back? “He said, quoting the woman, converting the amount from rupees to dollars for easier illustration. “I said, ‘If I give my brother or sister $ 100, I’ll get $ 100 back. “

Islamic law prohibits interest on loans, but it was not just this religious injunction that shaped Saqib’s thinking on microfinance as a way to lift families out of poverty.

So her new “sister” that day left her office with a heavy load lifted from her chest, securing a loan she pledged to repay in six months. Saqib later learned that she bought two sewing machines with the money, earned enough to send her children to school, and generally banished hunger from her home.

She returned the $ 100 on time, now calling it “blessed money,” which she hoped she could lend immediately to someone in need.

Saqib said that meeting with the widow – a woman who kept her dignity and resolve not to beg despite her plight – planted the seed of a personal mission that continued long after he left the country. Pakistani civil service.

Impact on millions

He is now highly regarded as the founder of Akhuwat, a nonprofit microfinance organization whose impact on nearly five million people has received international acclaim, from Queen Elizabeth II to the Crown Prince of Dubai.

The final applause comes from the Philippines: Saqib is one of this year’s five winners of the Ramon Magsaysay Prize, the Asian equivalent of the Nobel Peace Prize.

The Ramon Magsaysay Award Foundation (RMAF) honors Saqib for his “intelligence and compassion which enabled him to establish the largest microfinance institution in Pakistan; his inspiring conviction that human kindness and solidarity will find ways to eradicate poverty; and her determination to stay with a mission that has already helped millions of Pakistani families.

Akhuwat operates on the basis of the Islamic principle of “Mawakhat”. Simply put, Saqib said, it was like having a loaf of bread but with the willingness to give half of it to another “rightful” owner – a person who does not have one.

Based in Lahore, Akhuwat’s offering of interest-free microcredit to the poor made it the first of its kind in Pakistan. Since its inception in 2001, it has disbursed 140 billion Pakistani rupees (approximately $ 900 million) in loans to 4.8 million beneficiaries, with a repayment rate of 99.9%.

Dr MuhammadAmjad Saqib (Photo by RMAF)

Expand programs

It has also expanded its social support programs by “adopting” neglected or underfunded public schools. He has established four colleges and will soon open a university for children from low-income families.

Its health services program has provided free treatment to around half a million patients with diabetes and hepatitis. Its “clothing bank” distributed some 3 million items of clothing to the needy.

Akhuwat, which means “brotherhood” in Urdu, also offers assistance, including psychosocial services, to transgender people.

When the coronavirus pandemic struck, Akhuwat was there for people who could not immediately receive help from the government, distributing food bags, masks and supplies to hospitals and offering psychological counseling.

All of these have made Akhuwat more than a moneylender.

“It is a movement to improve the conduct and character of the people. It is a transformation of the state of mind, an attempt to create a system of mutual support. We are different from conventional microfinance in that we don’t see microfinance as an industry or a business, ”he said in a recent interview hosted by RMAF.

Borrowers, he said, feel like “part of the family” and are part of a “virtuous cycle” of people paying next. Once they start paying off the loan, they see Akhuwat as “our organization” worthy of continued support, so they “won’t let it down,” he said.

It is therefore not surprising that Akhuwat’s repayment rate has remained high despite the pandemic, unlike other more “traditional” microfinance programs in Pakistan.

“If you trust them. . . ‘

Akhuwat also puts its beneficiaries in touch with “skill-transmitting” partners to help them make the most of their loans by learning a new trade. These partners, mostly entrepreneurs eager to share their knowledge and best practices, were once borrowers themselves.

“The whole system is based on two assumptions: that there is no shortage of people who want to give and that the poor are not beggars or thieves. If you trust them they will give you the money back… Maintaining a 99% payback validates our assumption that people are honest, ”Saqib said.

“Why should I assume someone on the street is lying to me, unless they prove it?” It is a kind of reform movement in which we want to revive the spirit of hope and confidence, ”he added.

According to him, Akhuwat’s success can be replicated in other countries, regardless of religion, “because he believes and is based on virtue. For someone to be willing to help someone and for someone to return the favor is virtue. We just need an institution that can galvanize the whole of philosophy.

“I remember that even changing a person’s life is the second to changing all of humanity. We shouldn’t be aiming for quantity. God sees purity in our intentions. If you have purity in your intention, you can improve a person’s life, ”Saqib said.

“Societies only prosper when there is love… The problem is that the rich live far from the poor. There are two types of companies in each company. One where the rich live and one where the poor live. They don’t know each other, so we’re trying to bridge the gap. “

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Banks still charge abnormally high interest rates https://johnhesch.com/banks-still-charge-abnormally-high-interest-rates/ Mon, 06 Sep 2021 06:40:22 +0000 https://johnhesch.com/banks-still-charge-abnormally-high-interest-rates/ Governor of the BoG, Ernest Addison Data released last week by the Bank of Ghana on lending rates charged by commercial banks in Ghana reveals that most banks still charge unusually high interest rate differentials between the cost of their funds and the rates at which they are charged. they are willing to provide loans […]]]>

Governor of the BoG, Ernest Addison

Data released last week by the Bank of Ghana on lending rates charged by commercial banks in Ghana reveals that most banks still charge unusually high interest rate differentials between the cost of their funds and the rates at which they are charged. they are willing to provide loans to their clients.

However, the new data covers the first quarter of 2021 and therefore does not take into account the lending rate cuts implemented following the 100 basis point cut by the central bank of its benchmark monetary policy rate, announced at the end of March.

This rate cut was followed by a 40 basis point cut in Ghana’s benchmark rate, which is calculated as the base lending rate for all banks, with each bank adding an interest spread for each specific loan. that it grants, depending on the inherent inherent risk. in this particular loan.

The GRR currently stands at 13.51 percent, in effect since August 4, and is virtually the same as the MPR which has been withheld at 13.50 percent for the past five months.

The new data reveals that 17 of the 23 commercial banks currently operating in Ghana require average lending rates that give them interest spreads of at least five percent over the average base lending rate for the entire industry. .

These include in particular the Consolidated Bank, 21.62%; NBF Bank 22.25%; Fidelity, 20.64%; First Atlantic 21.23%; First National Bank, 20.55 percent; GCB Bank 22.80%; National Investment Bank, 21.77%; Prudential, 21.93%; Bank of the Republic, 21.03%; Stanbic, 20.86%; Standard Chartered; 20.82%; United Bank for Africa, 20.05%; Universal Merchant Bank, 20.39%; and Zenith Bank, 19.45 percent.

The three banks with the highest average lending rates require spreads of more than 10% above the GRR. These are Absa Bank, 23.59%; Societe Generale and 23.61% and ADB, 24.89%.

On the other hand, the lowest average effective lending rates are offered by: CAL Bank – 15.97%; Access bank – 17.77%; Bank of Africa 17.19%; Ecobank Ghana – 18.41 percent; Trust Bank Guarantee – 16.97 percent; and Omni / BSIC Bank – 17.95 percent.

It is important to note that all effective lending rates disclosed by the BoG include the effect of fixed loan charges – such as loan management fees – which are duly annualized and added to the respective coupon rates.

However, these averages can be misleading because some banks apply extraordinarily wide ranges between the lowest and highest effective rates, the latter being significantly higher than the highest rates charged by other banks that have lending rates. relatively lower means.

In addition, banks that are willing to provide relatively high risk credit – especially to SMEs as opposed to multinationals, and agriculture as opposed to commerce – must charge relatively high lending rates to compensate for default rates. payment inevitably higher than they are obligated to pay. to face.

Here the AfDB is a clear example, lending about half of its loan portfolio to an agricultural sector to which most other banks are hardly willing to expose themselves due to the excessive credit risk that accompanies it; It is instructive that the AfDB’s NPL rate, close to 30 percent, is inevitably double the sector average of 14.89 percent at the end of 2020.

Indeed, many banking industry analysts argue that the level of risk a bank is typically willing to assume in its loan portfolio is reflected in the average interest rates it charges; the higher the average lending rate, the higher the risk a bank is willing to take.


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Chelsea and Man City interest in Emerson Rodriguez confirmed https://johnhesch.com/chelsea-and-man-city-interest-in-emerson-rodriguez-confirmed/ Sat, 04 Sep 2021 20:02:36 +0000 https://johnhesch.com/chelsea-and-man-city-interest-in-emerson-rodriguez-confirmed/ By Conor Laird Posted: September 4, 2021 8:58 PM Last update: September 4, 2021 9:11 p.m. Colombian talent agent Emerson Rodriguez confirmed this weekend that his client was being “watched” by Premier League giants Chelsea and Manchester City. Lukaku and Grealish secured By their respective standards, the summer has of course turned out to be […]]]>

Pep guardiola

Colombian talent agent Emerson Rodriguez confirmed this weekend that his client was being “watched” by Premier League giants Chelsea and Manchester City.

Lukaku and Grealish secured

By their respective standards, the summer has of course turned out to be rather calm when it comes to entries to Chelsea and Man City.

The former opted to spend the money solely on Romelu Lukaku, although a last-ditch loan for Atletico Madrid’s Saul Niguez could prove to be an inspired deal as well.

Chelsea and Man City interest in Emerson Rodriguez confirmed

LONDON, ENGLAND – AUG 22: Romelu Lukaku of Chelsea celebrates after scoring the opening goal during the Premier League match between Arsenal and Chelsea at the Emirates Stadium on August 22, 2021 in London, England. (Photo by Mark Leech / Offside / Offside via Getty Images)

Meanwhile, on Manchester’s blue half, there has only been one significant financial outlay.

After seeing their efforts to lure Harry Kane to the club to fall flat, City were forced to console themselves in the record addition of the talisman of Aston Villa Jack Grealish.

Rodriguez watched

As stated above, however, if the latest quotes released to the media this weekend are valid, then the respective advice of Stamford Bridge and Etihad already seems to have an eye out for potential future additions.

This comes from the fact that both clubs are reportedly keeping an eye on Emerson Rodriguez.

21-year-old winger Rodriguez is currently plying his trade in his home country of Colombia, making a name for himself amid a string of impressive performances for Millonarios.

And, obviously, such a shape caught the attention of those across the pond in Europe.

Speaking in an interview with Fiorentina.it, agent Diego Carannante proposed all of Genk’s defenders Daniel Munoz, Andres Roman de Millonarios and Rodriguez aforementioned as potential signings for La Viola, before confirming Chelsea and Man City’s interest in the latter:

“In addition to Munoz, if we are talking about the right side, I would propose to Fiorentina the profile of Andres Roman de Millonarios, also called up by the Colombian national team and six months ago was a step away from Boca Juniors.”

“As a winger I would recommend Emerson Rodriguez Rivaldo, a Colombian born in 2001, also owned by Millonarios and already watched by City and Chelsea.”

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2 West Ham United 3 5 7
3 Manchester United 3 5 7
4 Chelsea fc 3 5 7
5 Liverpool fc 3 5 7
6 Everton FC 3 4 7
7 Manchester city 3 9 6
8 Brighton and Hove Albion 3 1 6
9 Leicester City 3 -1 6
ten Brentford FC 3 2 5
11 Aston Villa 3 1 4
12 Watford FC 3 -2 3
13 Southampton fc 3 -2 2
14 Crystal Palace 3 -3 2
15 Leeds United 3 -4 2
16 Burnley FC 3 -3 1
17 Newcastle United 3 -4 1
18 Wolverhampton Wanderers 3 -3 0
19 City of Norwich 3 -9 0
20 Arsenal FC 3 -9 0
Player Team Goals
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Two banks cut interest rates despite widespread hikes https://johnhesch.com/two-banks-cut-interest-rates-despite-widespread-hikes/ Fri, 03 Sep 2021 02:50:21 +0000 https://johnhesch.com/two-banks-cut-interest-rates-despite-widespread-hikes/ Despite the current trend of lenders to raise interest rates, two lenders have decided to lower their rates in a game for the key refinancing market. UBank, a leading fintech, cut its three-year fixed rate by 0.1%, with homeowners with a loan-to-value ratio (LVR) of less than 80% now paying as little as 1.85%. Those […]]]>

Despite the current trend of lenders to raise interest rates, two lenders have decided to lower their rates in a game for the key refinancing market.

UBank, a leading fintech, cut its three-year fixed rate by 0.1%, with homeowners with a loan-to-value ratio (LVR) of less than 80% now paying as little as 1.85%. Those on 85% LVR will also have access to a slightly higher rate of 2.05%.

UBank, a subsidiary of NAB and joined with 86,400, also lowered investor rates by 0.19% pa

“We regularly review our mortgage rates to make sure we are delivering great value to our clients. Today, we are delighted to reduce some of our already high fixed rates to levels unmatched in the market, ”said Philippa Watson, CEO of UBank.

Bank of Us, one of Tasmania’s largest banks, will offer customers 1.79% on a one-year fixed rate home loan. Isle.

“We are committed to supporting the Tasmanians now as we have done for the past 151 years,” he said.

“We are from Tasmania ourselves, so we understand how this low interest rate could positively impact those in our community who are waiting for this opportunity to make the leap into homeownership.”

“With that in mind, we have gone ahead and reduced our 1 year FlexiDiscount fixed mortgage rate for new loans up to 80% of the value of the property at a competitive rate of 1.79% per annum. with a comparison rate of only 2.45% per year.

“We are fully committed to delivering the benefits that can only come from choosing a 100% Tasmanian-owned bank – local, personal customer service and competitive banking products and services – which were designed by Tasmanians for Tasmanians. “

READ MORE: Refinancers ahead of first-time buyers, ABS says


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Interest charges, devaluation of the rupee, financing of the primary deficit drive up public debt https://johnhesch.com/interest-charges-devaluation-of-the-rupee-financing-of-the-primary-deficit-drive-up-public-debt/ Thu, 02 Sep 2021 15:20:04 +0000 https://johnhesch.com/interest-charges-devaluation-of-the-rupee-financing-of-the-primary-deficit-drive-up-public-debt/ ISLAMABAD: The Ministry of Finance said that interest charges, currency devaluation and primary deficit financing due to the economic slowdown linked to Covid-19 are the main reasons for the massive increase in public debt, according to a statement released Thursday by the Ministry of Finance. . To fully understand the underlying economic realities, it is […]]]>

ISLAMABAD: The Ministry of Finance said that interest charges, currency devaluation and primary deficit financing due to the economic slowdown linked to Covid-19 are the main reasons for the massive increase in public debt, according to a statement released Thursday by the Ministry of Finance. .

To fully understand the underlying economic realities, it is necessary to analyze the sources of the increase in total public debt over the past three years.

Interest charges: The preference for short-term domestic borrowing in the absence of adequate liquidity reserves resulted in a short-term profile of domestic debt at the end of fiscal 2018. This short-term profile resulted in interest charges. high on debt, as interest rates had to be raised significantly to curb rising inflationary pressures.

The government paid 7.5 trillion rupees in interest service, which accounts for 50% of the increase in total public debt.

Impact of currency devaluation: The exchange value of the rupee has been kept at an artificially high level in the past, which triggered the balance of payments crisis. The transition to the market-based exchange rate regime, being an inevitable policy choice, resulted in a sharp depreciation of the exchange rate resulting in high inflation, high interest rates, slower GDP growth and a decline. tax revenue related to imports.

This exchange rate depreciation added about Rs.29 trillion (20% of the increase) to government debt. This increase is not due to the borrowing but to the revaluation of the external debt in rupees after the devaluation of the currency, he said.

Financing of the primary deficit: The impact of the economic slowdown due to the Covid-19 pandemic has mainly resulted in higher than expected primary deficits. A total of 3.5 trillion rupees (23% of the increase) has been borrowed to finance the primary deficit.

Cash management and others: A sum of Rs1 trillion (7% of the increase) was due to the increase in government cash balances to meet emergency needs, as well as the difference in face value, which is used for recording the debt and the amount realized. value, which is recorded as the budgetary revenue of government bonds issued during this period.

The government took the revolutionary and economically sound step of not borrowing from the State Bank of Pakistan (SBP) and the maintenance of a cash buffer, which led to a one-time increase in debt. However, this increase in debt was offset by a corresponding increase in the government’s liquid cash balances.

A better way to measure the level of debt is to use the debt-to-GDP ratio instead of looking at the absolute values ​​of debt. In this way, it is important to point out that Pakistan experienced one of the smallest increases in its debt-to-GDP ratio during the pandemic.

The global debt-to-GDP ratio increased by 13 percentage points, while Pakistan’s debt-to-GDP ratio saw a minimal increase of 1.7 percentage points in 2019-2020.

Pakistan’s debt-to-GDP ratio actually fell by 4 percentage points, indicating a lower debt burden at the end of June 2021 compared to the previous year.

To conclude, the increase in debt over the past three years has occurred mainly in the 2018/19 fiscal year due to the implementation of difficult and unavoidable policy choices. If the market-based exchange rate, a sustainable level of the current account deficit, adequate liquidity reserves and a long-term domestic borrowing profile had been maintained, the debt burden would have been further reduced through the efforts. fiscal consolidation supported by aggressive spending controls and growth in tax and non-tax revenues.

Since most of the major fiscal and monetary policy adjustments have been made, the debt burden is expected to decline sharply over the next few years.


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Credit repair for better interest rates https://johnhesch.com/credit-repair-for-better-interest-rates/ Thu, 02 Sep 2021 12:11:15 +0000 https://johnhesch.com/credit-repair-for-better-interest-rates/ When you’re dealing with bad credit, getting the lowest possible interest rate is essential to keeping your car loan affordable. The last State of the Automotive Finance Market Report, by Experian, shows that interest rates are climbing. One way to fight rising interest rates is to improve your credit, and we can show you how. […]]]>

When you’re dealing with bad credit, getting the lowest possible interest rate is essential to keeping your car loan affordable. The last State of the Automotive Finance Market Report, by Experian, shows that interest rates are climbing.

One way to fight rising interest rates is to improve your credit, and we can show you how.

Rising interest rates on auto loans

In the first quarter of 2021, interest rates were still falling year over year, but that trend appears to have taken a turn. In the second quarter, interest rates climbed nearly half a percent for borrowers with near-prime credit, while subprime borrowers rose nearly a percentage point, raising the average interest for this level at 11.03%. Large subprime borrowers saw their interest rates rise just over half a percent, taking them to 14.59% on average.

Experian figures show fewer subprime loans are made

According to Experian State of the automotive finance market for the second quarter of 2021, subprime loans fell to near record levels, representing only about 17.18% of the total financing in the last quarter.

This number is the total combined funding that has gone to borrowers in the subprime and deep subprime categories. Consumer loans with near prime credit accounted for 17.95% of all new loans in the last quarter.

Credit Repair Tips to Combat Rising Rates

Since loans to borrowers with less than perfect credit are increasingly difficult to obtain, improving your credit as much as possible is a great way to help you qualify for the financing you need. . And, if you improve your credit score enough, you may be able to benefit from better interest rates than you had on previous auto loans.

Here are four quick tips to improve your credit so you can get the lowest interest rate possible:

  1. Pay all your bills on time and in full. Payment history is the biggest part of your credit score, so if you can do it, you might start to see improvement sooner.
  2. Don’t overspend. If you have credit cards that typically carry a balance, be sure to keep it to a minimum. Your credit starts to decline once your credit utilization rate reaches 30%. A good rule of thumb is to only put in plastic what you can afford in cash. This way you can be sure you have enough money to pay off your monthly credit card statement in full, instead of paying the minimum owed and accumulating more interest charges.
  3. Become an authorized user on someone’s credit card. When you do, you benefit from their good credit score. Remember that shared accounts go both ways when it comes to credit score. So if either party starts to slip, both of your credit scores go down.
  4. Make sure you get credit for the bills you pay. Some payments you make automatically, such as streaming services, utilities, and even rent, can help boost your credit score if they are reported to the credit bureaus.

Do you know where you are?

Knowing where your credit score is is an important step in getting the car loan you need and knowing what to prepare for. There are many ways to get your credit reports and scores for free, including your bank or credit union, your credit card company, or an online credit monitoring service.

Until April 2022, you can take advantage of a free service offered by Experian, Equifax and TransUnion. They partner with the federal government to www.annualcreditreport.com to bring you your credit reports every week, for free. You are normally entitled to one free credit report per year from each of the three national credit bureaus, but this has been increased due to the need for Americans to monitor their credit in light of the pandemic.

Once you know what’s on your credit reports and where your credit score is, you can see the areas you need to work on to increase your credit. Experian groups consumers into five credit score levels: super prime, 781-850; first, 661-780; close to the first, 601-660; subprime, 501-600; and deep subprime, 300-500.

Ready for your next car loan?

If you’re ready to find your next car loan, the good news is that car loans are also a great way to improve your credit. Subprime lenders work with borrowers who have less than perfect credit. You might not get the lowest interest rate possible, but there are steps you can take to make sure you’re getting the lowest possible interest rate by following our tips and working with the right lender. .

Here has Auto Express Credit, we also want to help you. We know how stressful the car buying process can be, so we want to help you narrow down your search for a dealership that works on special financing. Let us point you in the right direction by connecting you with a dealer registered with lenders who can work with you.

It’s fast, free and without any obligation. Simply complete our auto loan application form and we’ll get to work connecting you with a dealership.


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Earn up to 12.73% APY on your cryptocurrencies with the Hodlnaut interest account https://johnhesch.com/earn-up-to-12-73-apy-on-your-cryptocurrencies-with-the-hodlnaut-interest-account/ Thu, 02 Sep 2021 09:22:15 +0000 https://johnhesch.com/earn-up-to-12-73-apy-on-your-cryptocurrencies-with-the-hodlnaut-interest-account/ To share Tweeter To share To share E-mail Companies like Hodlnaut are changing the cryptocurrency game The Hodlnaut interest account allows you to increase your cryptocurrency holdings without the vagaries of trading. Cryptocurrency rates have been adjusted to allow users up to 12.73% APY on their investments. Cryptocurrencies Add a New Degree of Innovation to […]]]>

  • Companies like Hodlnaut are changing the cryptocurrency game
  • The Hodlnaut interest account allows you to increase your cryptocurrency holdings without the vagaries of trading.
  • Cryptocurrency rates have been adjusted to allow users up to 12.73% APY on their investments.

Cryptocurrencies Add a New Degree of Innovation to the Evolution of Money as a Medium of Exchange, According to EconStor. A crypto interest account might be a way for you to dramatically increase your interest rate of return, but these accounts are different from bank or credit union savings accounts. Before deciding to invest, it is important to understand how crypto interest accounts work.

Cryptocurrency Interest Account Explained

A cryptocurrency interest account allows you to participate in the cryptocurrency market while earning income, similar to a typical bank savings account. A crypto interest account can help you earn income while keeping your coins safe, while also earning interest on them, if you are interested in a long term investment in cryptocurrency.

How Hodlnaut is changing the game

Hodlnaut is a cryptocurrency lending platform that allows investors to earn interest on their holdings by lending them to approved institutions. Recently, the company reduced its withdrawal fees for Tether (USDT), US Stable Coin (USDC), Dai (DAI), and Ethereum (ETH). Hodlers can earn interest on any of six supported crypto assets: BTC, DAI, ETH, USDT, USDC, and WBTC.

The withdrawal fees for the aforementioned currencies will be as follows as of August 3, 2021:

  • Tie (USDT): 10 USDT
  • US Stable Coin (USDC): 10 USDC
  • Dai (DAI): 10 DAI
  • Ethereum (ETH): 0.0036 ETH

Hodlnaut previously offered 6.2% APY for BTC and WBTC, 6.7% APY for ETH and 10.5% APY for USDC, USDT and DAI. The new rates, as well as the introduction of levels, have been updated to reflect current market conditions. Users can now earn up to 7.5% APY on BTC and 12.73% on stablecoins.

Simply deposit any amount into your account and you will start earning interest immediately. Every Monday at 5 p.m. (GMT +8), interest is paid. There is no minimum or maximum deposit, and all balances earn interest.

Learn more about the company

Hodlnaut is a platform that provides financial services to individual investors, allowing them to earn interest on their cryptocurrencies by lending them to borrowing companies that would otherwise not be able to obtain crypto loans. Hodlnaut was founded in April 2019 by two Singaporean entrepreneurs. One of the founders, Juntao, writes that as Bitcoin Hodl-ers, they wanted to create a product that allows Hodl-ers to earn long-term interest.

Hodlnaut co-founder Juntao made his first Bitcoin purchase in 2015 and started performing spot arbitrage on various cryptocurrency exchanges. However, he was subjected to a heavy capital gains tax of 55% in Japan, prompting him to return to Singapore.

Juntao Zhu, who has an unwavering passion for Bitcoin, pitched his idea for Hodlnaut to Simon when they were introduced by a mutual friend in 2018. As a result, Hodlnaut, a crypto borrowing and lending platform that helps investors to increase the return on investment. their assets, was born and officially launched. Instead of just benefiting from price increases, cryptocurrency investors can now earn interest on their crypto and unlock its full value through yield farming.

Besides their interesting start-up history, the name of the company reflects the passion of the founders. The name Hodlnaut is a mixture of Hodl and Astronaut. Hodl is a term used in the cryptocurrency community to describe the act of holding cryptocurrency rather than selling it. By adding the abbreviated ‘naut’ they demonstrate how they plan to take their investors’ interest account investing to the next level.

How does the Hodlnaut Interest Account works

Earning APY on your cryptocurrencies with Hodlnaut is as easy as 1,2,3:

  1. Make a deposit with Bitcoin or other supported cryptocurrency. There is no blocking or deposit limit, so you can deposit whenever you want.
  2. Compound interest can be earned on your asset. Market effects determine interest rates, which are among the lowest in the industry.
  3. You determine when you receive payments and when you withdraw funds. Receive weekly payments to your wallets and withdraw funds whenever you want.

Why is Hodlnaut the best fit?

The main feature of Hodlnaut is its interest-generating crypto account. Users can get the highest possible return on six different digital assets: BTC, WBTC, DAI, ETH, USDC, and USDT. Hodlnaut has one of the highest interest rates on the market, with users earning up to 12.73% on their cryptocurrency. Plus, there are no blocking periods or minimum deposits required to get started. earn crypto interest, and users can receive their accrued interest weekly.

Besides interest accounts, Hodlnaut also offers business loans. Customers can obtain a line of credit using their crypto assets as collateral through crypto loans. Hodlnaut can tailor loans to the client’s business needs, with loans starting at $ 50,000 and loan-to-value ranges from 25% to 70%.

Final thoughts

As you can see, cryptocurrency aims to give people control over their money and transactions in a secure and private way. Depositing cryptocurrencies into an interest account is a great way to passively grow your cryptocurrency portfolio. As stated earlier, it is essential that you conduct thorough research before embarking on any new adventure on the platform. Choose the platform that best meets your needs.








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Axis Bank Says Residential Demand Strong, Mortgage Interest Rates at Record High https://johnhesch.com/axis-bank-says-residential-demand-strong-mortgage-interest-rates-at-record-high/ Thu, 02 Sep 2021 08:26:37 +0000 https://johnhesch.com/axis-bank-says-residential-demand-strong-mortgage-interest-rates-at-record-high/ With the work of cultivating the home boosting demand for slightly larger homes, mortgage interest rates hitting an all-time high and house prices stabilizing, this is indeed a good time for buyers looking to invest in a property. To discuss this, CNBC-TV18 spoke with Sumit Bali, President and Head of Retail Lending at Axis Bank. […]]]>

With the work of cultivating the home boosting demand for slightly larger homes, mortgage interest rates hitting an all-time high and house prices stabilizing, this is indeed a good time for buyers looking to invest in a property. To discuss this, CNBC-TV18 spoke with Sumit Bali, President and Head of Retail Lending at Axis Bank.

With the work of cultivating the home boosting demand for slightly larger homes, mortgage interest rates hitting an all-time high and house prices stabilizing, this is indeed a good time for buyers looking to invest in a property. To discuss this, CNBC-TV18 spoke with Sumit Bali, President and Head of Retail Lending at Axis Bank.

Bali said, “There is a lot of home loan activity. We have seen lending for real estate gain momentum; particularly on the mortgage side, our mortgage interest rates, mortgage interest rates are at an all time high and continue to drop a little bit each month. “

“House prices have stabilized, but by combining house prices with the interest rates on offer affordability is about right and it’s probably the best number we’ve seen in the past. of the past decade in terms of affordability index, and that while working from home is also driving demand for slightly larger housing. Demand has therefore been strong and sustained, ”Bali said.

After a phase of lending to large corporations and the resulting loan cancellations, banks have doubled the growth of their retail portfolios. The retail segment represents over 50 percent of Axis Bank’s business and is considered one of its main growth drivers.

Regarding retail, Bali said, “The overall retail portfolio relies heavily on the secure side of the business, namely mortgages and automobiles. But on the unsecured side of the business, which is a personal loan, a credit card, we have seen a strong month-over-month pull, including unsecured business installment loans, which are showing strong growth. demand for working capital by small and medium-sized enterprises (SMEs). We have seen these books grow month by month, demand continues to be strong and as we move into the holiday season it will continue to grow. “

Regarding loans and cards, he said: “The demand for credit cards or personal loans has increased; Auto loans have also increased, but have been constrained by supply issues, but demand continues to be good. We are therefore clearly witnessing an increase in spending on cards, in the demand for personal credit and in the demand for car credit as well as for mortgage loans. So everything is increasing month by month for us.

According to him, the bank is in the process of linking up with a few fintech (financial technology) players. “We are in conversation with many of them to offer the set of facilities, which are mutually beneficial for the partners, us as well as the fintech company. So it’s a very interesting and evolving space and we certainly want to be very important in their field, ”Bali said.

For the full interview, watch the video

(Edited by : Dipika gosh)


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ComBank Launches Low Interest Home Loans – The Island https://johnhesch.com/combank-launches-low-interest-home-loans-the-island/ Thu, 02 Sep 2021 07:52:30 +0000 https://johnhesch.com/combank-launches-low-interest-home-loans-the-island/ SLT-MOBITEL, the national ICT and telecommunications service provider, recently signed an agreement with Shangri-La Hotels Lanka (Private) Limited to provide a range of digital solutions for its One Galle Face shopping center and One Galle Face tower . SLT CEO Kiththi Perera signed the agreement on behalf of SLT-MOBITEL, while Shangri-La Group Vice President (Operations), […]]]>

SLT-MOBITEL, the national ICT and telecommunications service provider, recently signed an agreement with Shangri-La Hotels Lanka (Private) Limited to provide a range of digital solutions for its One Galle Face shopping center and One Galle Face tower .

SLT CEO Kiththi Perera signed the agreement on behalf of SLT-MOBITEL, while Shangri-La Group Vice President (Operations), Sri Lanka, Timothy Wright was the signatory of Shangri-La Hotels Lanka (Private) Limited. Senior officials from SLT-MOBITEL and Shangri-La Hotels Lanka were also present on the occasion.

SLT-MOBITEL will provide all units with super-fast broadband connectivity through SLT-Mobitel Fiber technology to ensure that users have access to broadband with maximum speeds of up to 100Mbps, putting the world at their fingertips. hand.

In addition, thanks to this agreement, SLT-MOBITEL will offer tenants a high-end immersive experience via PEO-TV. Focused on the future in order to offer the best possible technological platform for tenants, SLT-MOBITEL also plans to build the necessary bases for a Smart Building.

Commenting on the deal, SLT CEO Mr. Kiththi Perera said, “We are delighted to be working with a partner such as Shangri-La – considered one of the best hotel ownership and management companies in the world. world – to improve the digital lifestyle of occupants. from One Galle Face Mall and One Galle Face Tower. As technology continues to advance and evolve, SLT-MOBITEL is poised to provide ultra-fast connectivity users eager to work and play online, redefining digital solutions to complement their environment.

One Galle Face is Colombo’s most prestigious mixed-use development project developed and managed internationally by Shangri-La, Asia-Pacific’s premier luxury hotel group. One Galle Face Tower is a world-class commercial space, offering over 530,000 square feet of premium office space and world-class facilities, while the One Galle Face Mall is a premier retail paradise. retail, entertainment and foodservice to unite local and global buyers.

Shangri-La Group Vice President (Operations), Sri Lanka, Mr. Timothy Wright commented: “We are fortunate to work with SLT-MOBITEL, the national ICT leader who understands the value and importance of providing superior and innovative products. communication experiences. Our tenants are always looking for high quality products and services and I am sure they will appreciate the solutions offered by SLT-MOBITEL ”.


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