South Korean banks are set to raise mortgage rates again within a month as the government seeks to rein in household debt growth that is accelerating at its fastest pace in three years amid growing expectations of interest rate cuts.The central bank will raise mortgage rates by 0.05 to 0.20 percentage points starting Thursday. Between late June and early this month, the central bank raised mortgage rates by similar amounts.Kookmin Bank is set to raise interest rates on home loans and home rental deposit loans by 0.20 percentage points on Thursday, according to banking industry sources.This is the third time…
Author: Private Lending Agent
Published on July 17, 2024 at 3:01 AM UTC Editor's note: Blueprint may earn commission from affiliate partner links featured on this site. This commission does not influence editorial opinions or ratings. See full advertiser disclosure policy. Boogich, Getty Images The average interest rate for a 30-year fixed mortgage is 7.29%. The average interest rate for a 15-year fixed mortgage is 6.56% and the average interest rate for a jumbo mortgage is 7.32%. *Data is current as of July 16, 2024. 30-year fixed mortgage rate The average mortgage rate for a 30-year fixed loan rose to 7.29% from 7.27% last…
The Bank of England left interest rates unchanged at 5.25% in June, as was widely expected. This is the seventh consecutive time interest rates have been kept unchanged since they were raised to their current level in August 2023. Prior to this, interest rates had been raised 14 times in a row between December 2021 and August 2023, when they were at 0.1%. The next interest rate announcement by the Bank's Monetary Policy Committee (MPC) is at noon on August 1. Markets are expecting the Bank Rate to fall to 5% at that point. What is happening with inflation? The…
A social housing complex in Bac Giang city. Vingroup and Techcombank have proposed a new preferential financing package for social housing. — VNA/VNS photoHANOI — Vingroup and Techcombank have proposed a new preferential financing package for social housing.The package offers a fixed interest rate of 4.8 percent per year for the first five years, a loan term of up to 30 years and financing of up to 100 percent of the purchase price. These terms are more favorable than the current VND120 trillion ($4.72 billion) package.The news was announced by the Ministry of Construction.To implement the preferential loan program, Vingroup…
Economic pressures on local households are ever-present. The latest Altron Fintech Household Resilience Index (AFHRI) results were released today, confirming ongoing financial pressures on South African households, mainly due to the continued tight monetary policy stance of the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC).According to economist Dr Roelof Botha, who compiles the index on behalf of Altron Fintech, the most worrying trend in the latest AFHRI is the 8.7% year-on-year decline in the ratio of household income to debt costs. “Just two years ago, in the first quarter of 2022, households were sacrificing 6.7% of their disposable…
Fixed Deposits (FDs) are a popular investment option for risk-averse investors. This investment option offers guaranteed returns over a period of time. While traditional banks offer competitive interest rates, small finance banks often offer higher returns on FDs. Here's how you can make the most of your fixed deposit investments with small finance banks. Compare interest rates The first step is to compare interest rates on fixed deposits offered by different small finance banks. Interest rates can vary significantly, so doing your research in advance can help you get a higher return. Websites and financial platforms often list and compare…
Fixed Deposits (FDs) are a popular investment option for risk-averse investors. This investment option offers guaranteed returns over a period of time. While traditional banks offer competitive interest rates, small finance banks often offer higher returns on FDs. Here's how you can make the most of your fixed deposit investments with small finance banks. Compare interest rates The first step is to compare interest rates on fixed deposits offered by different small finance banks. Interest rates can vary significantly, so doing your research in advance can help you get a higher return. Websites and financial platforms often list and compare…
Starting a real estate business is one of the best ways to achieve financial freedom, replace your W2 income, and leave your nine-to-five. Why? Because you don’t need a ton of money OR a rental property to get started. Today’s guest built a million-dollar business with just $150, and in this episode, she provides the blueprint for you to do the same!Brittany Hailey and her husband were living in an expensive market and working low-paying jobs when they were introduced to short-term rentals. They eagerly bought a house and turned their mother-in-law suite into an Airbnb, and right off the…
JLL has enhanced its North West offering with a series of promotions. The global property services company has invested in its Manchester team through the promotion of its Residential and Development & Regeneration divisions. Heather Turner, who joined the company in 2013, has been promoted to director and Corina Ositelu has been promoted to senior surveyor in the development and regeneration team. They are joined by Michael Tolan, who has been appointed senior surveyor for housing, and Nadia Manchester, who has been promoted to surveyor. Jonathan Wiedemann, head of the north west at JLL, said: “Manchester's property market, and its…
The two most recent reports reflect trends in Florida's property and casualty insurance market, including continued growth in surplus lines business and an increase in insurer litigation costs last year. Florida's Surplus Lines Service Office reported this week that total premiums for licensed market and surplus lines commercial insurance policies are set to increase by more than 42% in 2023, continuing a steady rise since 2018. In its commercial real estate market white paper released July 15, FSLSO noted that commercial real estate income premiums from admitted market insurers surged to more than $12.5 billion last year, up from $8.7…