“Rates on 30-year home loans fall to 5.09 percent (Washington Post)” plus 3 more |
- Rates on 30-year home loans fall to 5.09 percent (Washington Post)
- MBSB to disburse RM3b personal financing in 2010 (Business Times (Malaysia))
- 30-year home loans drop to 5.09% (Pioneer Press)
- MBSB To Disburse RM3 Bln Worth Of Personal Financing This Year (Bernama)
| Rates on 30-year home loans fall to 5.09 percent (Washington Post) Posted: 07 Jan 2010 08:26 AM PST The average rate on a 30-year fixed mortgage was 5.09 percent this week, down from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates dropped to a record low of 4.71 percent in early December, pushed down by an aggressive government campaign to reduce consumers' borrowing costs, but then rose steadily for the rest of the month. Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often in line with long-term Treasury bonds. The Federal Reserve is pumping $1.25 trillion into mortgage-backed securities to try to bring down mortgage rates, but that money is set to run out next spring. The goal of the program is to make home buying more affordable and prop up the housing market. The central bank's policymakers have been conflicted about whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to meeting minutes released Wednesday. Some Fed policymakers argued that the program might need to be expanded and extended beyond its current end date of March 31, arguing that the additional dose of stimulus would be especially needed if the economic recovery were to weaken. However, one member thought the program could be scaled back given the improvement in economic and financial conditions. Getting the housing market back on firm footing is a key ingredient to a lasting recovery. The collapse of the housing market, which dragged down home prices with it, was the catalyst for the longest and worst recession to hit the country since the 1930s. The average rate on a 15-year fixed-rate mortgage fell to 4.5 percent, down from 4.54 percent last week, according to Freddie Mac. Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, unchanged from a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.31 percent from 4.33 percent. The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 point for 30-year and 15-year loans and 0.6 point for five-year and one-year loans. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| MBSB to disburse RM3b personal financing in 2010 (Business Times (Malaysia)) Posted: 08 Jan 2010 05:34 AM PST Malaysia Building Society Bhd (MBSB), a government-linked company, expects to disburse RM3 billion through its personal financing division this year. Its chief financial officer Tang Yow Sai said the target was set after the division had succeeded in meeting its last year's target of RM1 billion. "We managed to break the target by recording RM1.1 billion in disbursement last year," he told reporters after launching MBSB's "Bonus Berganda" Contest 2010. "The reason for the higher expectation is that starting from this year, we are trying to diversify the areas of disbursement," he said.
Assistant general manager of the personal financing division, Azman Aziz, said the company had focused in offering loans to the police force, Health Ministry staff and teachers last year. Asked whether the latest target was achievable, he said it was possible as the company was increasing its sales distribution force and MBSB was also trying to take over some cooperatives and companies currently involved in providing personal financing to government agencies. "The target this year might be a high jump from last year but still our market share is very small if compared to other personal loan providers," Azman said. "Malaysia's monthly personal financing market's disbursement is RM1.7 billion and our distribution monthly is an average of RM150 million," he said. MBSB expects to manage 150,000 government servant accounts this year, an increase of 100,000 accounts from the current 50,000 under its management, Azman said. "The 150,000 accountholders will be around 10 per cent of the total estimated at 1.5 million," he said. According to Azman, all loan applications will be processed within a seven-day period.
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| 30-year home loans drop to 5.09% (Pioneer Press) Posted: 07 Jan 2010 10:16 PM PST The Pioneer Press is happy to host community conversations about news and life in the Twin Cities. As hosts, we expect guests will show respect for each other. That means we don't threaten or defame each other, and we keep conversations free of personal attacks. Witty is great. Abusive is not. If you think a post violates these standards, don't escalate the situation. Instead, flag the comment to alert us. We'll take action if necessary.
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| MBSB To Disburse RM3 Bln Worth Of Personal Financing This Year (Bernama) Posted: 08 Jan 2010 04:15 AM PST January 08, 2010 20:19 PM MBSB To Disburse RM3 Bln Worth Of Personal Financing This Year
KUALA LUMPUR, Jan 8 (Bernama) -- Malaysia Building Society Bhd (MBSB), a government-linked company, expects to disburse RM3 billion through its personal financing division this year. Its chief financial officer Tang Yow Sai said the target was set after the division had succeeded in meeting its last year's target of RM1 billion. "We managed to break the target by recording RM1.1 billion in disbursement last year," he told reporters after launching MBSB's "Bonus Berganda" Contest 2010. "The reason for the higher expectation is that starting from this year, we are trying to diversify the areas of disbursement," he said. MBSB, which currently offers personal financing to government servants only, is going to extend the programme to selected government-linked companies, statutory bodies and public-listed companies, Tang said. Assistant general manager of the personal financing division, Azman Aziz, said the company had focused in offering loans to the police force, Health Ministry staff and teachers last year. Asked whether the latest target was achievable, he said it was possible as the company was increasing its sales distribution force and MBSB was also trying to take over some cooperatives and companies currently involved in providing personal financing to government agencies. "The target this year might be a high jump from last year but still our market share is very small if compared to other personal loan providers," Azman said. "Malaysia's monthly personal financing market's disbursement is RM1.7 billion and our distribution monthly is an average of RM150 million," he said MBSB expects to manage 150,000 government servant accounts this year, an increase of 100,000 accounts from the current 50,000 under its management, Azman said. "The 150,000 account holders will be around 10 per cent of the total estimated at 1.5 million," he said. According to Azman, all loan applications will be processed within a seven-day period. "This is our strategy in preventing the public from preferring shark loans as illegal moneylenders apply the fast money concept," he said. -- BERNAMA
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