| AHB offers expat home loans | | Posted Monday, January 29, 2007 1:04:40 PM by Blog57 Team | | Oman's Alliance Housing Bank is now offering home finance loans to expatriates and foreigners, as well as Omani nationals. The bank is extending its mortgaging services to its expatriate clientele, with loans for up to 80% of the value of the property available at a rate of 7% over a 20 year period. .... | |
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| | | Foreclosure Lists Near 1989 Record: Adjustable-Rate Loans and Consumer Debt Are Blamed | | Posted Saturday, January 20, 2007 3:04:48 PM by Blog57 Team | | Jan. 19--Dallas-Fort Worth home foreclosure postings are still growing -- fueled by higher payments on adjustable-rate loans and rising consumer debt. The latest statistics show that pending foreclosures in Dallas County are 12 percent higher than a year ago and foreclosure postings are up 16 percent in Tarrant County. Because of weather delays and other factors, some monthly statistics prepared by Addison-based Foreclosure Listing Service were unavailable on Thursday, including figures for Collin County. Even so, the 1,940 homes in Dallas County and 1,274 Tarrant County homes threatened with foreclosure are approaching record highs, said George Roddy, president of Foreclosure Listing Service. "This is getting serious," Mr. Roddy said. "This level is getting very close to the all-time records set in 1989, when an average of 2,000 postings were filed monthly on Dallas County residences." Back then, it was a regional recession that caused the number of home foreclosures to spike.... | |
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| | | Home loans to Native Hawaiians nearly overtake Indian mortgages | | Posted Friday, December 01, 2006 1:06:50 PM by Blog57 Team | | WASHINGTON - Mortgage lenders increased their dollar volumes of home loans to American Indians by 10 percent in 2005 - but disbursed nearly as much in loans to the smaller Native Hawaiian population, government data show. In fact, lenders loaned more dollars to Native Hawaiians than Indians in three of the seven subcategories the government tracks: refinancings, non-occupant mortgages and multifamily loans. Lenders made $27.2 billion in mortgages to Indians and Alaska Natives for 2005, according to reports they filed to comply with the Home Mortgage Disclosure Act. They reported nearly as much business, $26.5 billion, in home loans to Native Hawaiians and other Pacific Islanders (this includes Natives from Guam and American Samoa). The total of $53.7 billion in Native lending is a big jump from 2004, when lenders reported making $24.9 billion in Indian loans and $21 billion to Native Hawaiians for a total of nearly $46 billion.... | |
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| | | US stocks slip as Home Depot offsets PPI, profits | | Posted Wednesday, November 15, 2006 3:03:58 AM by Blog57 Team | | NEW YORK, Nov 14 (Reuters) - U.S. stocks fell on Tuesday as Home Depot Inc.'s disappointing outlook outweighed optimism about strong profits of discounters Wal-Mart Stores Inc. and Target Corp. and expectations that the Fed will keep interest rates steady. A Labor Department report released before the bell showed U.S. core producer prices, stripping out food and energy costs, took their sharpest tumble in more than 13 years in October. For details see [ID:nN09284431]. But the PPI report coincided with a profit warning from Home Depot, the No. 1 U.S. home improvement chain, whose stock slid 0.7 percent on the New York Stock Exchange and was among the biggest drags on both the Dow and the S&P 500. Financial companies, including Citigroup Inc. , also featured on the losers' board as U.S.... | |
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| | | Loans available for Urbandale home-rehab projects | | Posted Sunday, November 12, 2006 11:08:28 PM by Blog57 Team | | Residents in the Urbandale area can tap into a $100,000 credit line for home rehabilitation projects thanks to new grant money given to Neighborhoods Inc. The cash can be used for environmentally sound rehabilitation work, or "green" projects. An initial focus will be given to the area around Fell Park, though money will be available to others in the neighborhood. .... | |
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| | | Lending shift splits Cleveland | | Posted Friday, November 10, 2006 3:12:21 PM by Blog57 Team | | The region's biggest banks made only a small share of the home loans written in some city neighborhoods in recent years, data from the city of Cleveland show. However, lenders that target borrowers who don't typically qualify for competitively priced loans were active in those neighborhoods where the big banks did little business, according to information from the federal government. The Plain Dealer analyzed loan data from 1999 to 2004, the most recent years available from Cleveland, which collects the information under contracts struck with banks that hold city deposits. For months, Cleveland officials refused to release the public records and eventually disclosed the data only after the banks gave their approval. Forged more than a decade ago, the contracts set goals for the banks, such as writing a specific number and value of home loans, offering a range of loan products to residents across city neighborhoods, operating branches throughout the city and supporting neighborhood development groups.... | |
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| | | S.Korea home-backed loans to households jump in Oct | | Posted Wednesday, November 08, 2006 7:07:21 AM by Blog57 Team | | SEOUL, Nov 8 (Reuters) - Home-backed bank lending to South Korean households rose by the fastest pace in five months in October from September, data showed on Wednesday, adding to government worries about the red-hot housing market. The data comes amid speculation that rising housing prices may pressure the central bank to raise interest rates soon, if not at its next policy meeting on Thursday, reversing its earlier pledge to reconsider its tightening stance. The Bank of Korea data showed home-backed loans to households rose 1.32 percent in October from September, marking the biggest percentage gain since a 1.57 percent rise in May and pushing the overall bank loans to households up by 1.22 percent. Home-backed loans rose to 209.68 trillion won ($223.4 billion) at the end of October, equivalent to a quarter of the country's annual gross domestic product, from 206.94 trillion won a month before, the data showed.... | |
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| | | Home loans on offer at five times salary level | | Posted Tuesday, November 07, 2006 1:17:21 PM by Blog57 Team | | Homebuyers are being offered unprecedented borrowing power by banks and building societies, which are now marketing mainstream mortgages of up to five times joint salary levels as they attempt to win first-time buyers. Abbey, the UK's second-largest home loans provider, has raised the standard amount it will lend homebuyers to five times either their single or joint salaries, eclipsing the traditional borrowing levels of around three and a half times salary. .... | |
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| | | Demand for loans continues to decline | | Posted Monday, November 06, 2006 3:12:09 AM by Blog57 Team | | A majority of U.S. banks reported weaker demand for home loans for the second straight quarter, while one-fourth said demand declined for commercial real estate loans, according to a Federal Reserve survey. About 45% of U.S. respondents also reported weaker demand for consumer loans, while demand for commercial and industrial loans was little changed, the Fed said in its October survey of senior loan officers, which is conducted quarterly. During the third quarter, the Fed left its benchmark short-term interest rate unchanged at 5.25%, the first period since early 2004 that the central bank has declined to adjust borrowing costs. U.S. banks reported tighter lending standards for commercial real estate loans in the quarter, while credit standards on mortgages were little changed, the Fed said.... | |
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| | | No impact on home loan, but personal loans may cost more | | Posted Wednesday, November 01, 2006 11:14:02 PM by Blog57 Team | | Home and auto loan rates will not be affected but personal loans and borrowings for consumer goods and equity market investments are likely to cost more, as banks facing liquidity crunch may pass the hike in repo rate, a key overnight lending rate of RBI, to customers. In the busy season credit policy review today, RBI raised the Repo rate by 0.25 per cent to 7.25 per cent while keeping reverse repo, the rate at which it borrows from banks unchanged at 6 per cent. Country's largest lender, State Bank of India Managing Director T S Bhattacharya said there would be no impact on home and auto loan rates for which the market will remain as it was. While no impact is expected on lending rates by banks having a comfortable liquidity situation, those banks having difficulty in mobilising deposits from public and borrow from RBI, may raise interest rates for non-productive segments.... | |
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