The exit facility is not considered a debt rescheduling or restructuring and the borrower will not be eligible to obtain new financing until the existing loan is repaid in full. For the first time, Bangladesh Bank has introduced an exit policy allowing defaulting borrowers to repay their loans for up to three years with a 10 percent down payment, aimed at keeping liquidity flowing and reducing bad loans in the banking sector. According to a central bank circular issued today, the exit policy will not be considered a debt rescheduling or restructuring and borrowers will not be eligible to obtain…
Author: Private Lending Agent
Across the country, the traditional boundaries of where we live, work and play are being redefined, creating a new opportunity for cities and developers: mixed-use commercial real estate. The optimal application of this approach is to combine housing, retail, entertainment, offices and even event space in a single location, usually within walking distance of each other. Mixed-use developments offer dynamic solutions to the challenges of modern life, enabling people to live fulfilling lives in the same place or in close geographical areas. Incorporating elements of smart design, sustainability and connectivity to create attractive, functional and practical environments, modern mixed-use developments…
Photo by John Greim/LightRocket via Getty Images Today's average refinance rates Refinancing your mortgage Average mortgage rates as of July 10, 2024 compared to one week ago, using interest rate data collected by Bankrate as reported by lenders across the United States. Mortgage interest rates are always changing, but they're likely to go down this year. To get the lowest interest rate, compare offers from different lenders. Enter your information below to get a custom quote from CNET's partner lenders. About these rates: Like CNET, Bankrate is owned by Red Ventures. This tool features partner rates from lenders that you…
Calculated Risk 2024/7/10 07:00:00 AM From MBA: Latest MBA Weekly Survey Shows Increase in Mortgage ApplicationsMortgage applications for the week ending July 5, 2024, fell 0.2% from the previous week, the Mortgage Bankers Association said in a report, adding that last week's results included an adjustment for the Fourth of July holiday.The Composite Market Index, a measure of mortgage application volume, was down 0.2% from the previous week, seasonally adjusted. On an unadjusted basis, the index was down 20% from the previous week. The Refinance Index was down 2% from the previous week and up 28% from the same week…
(Bloomberg) — As a crash in commercial property prices continues to roil markets, distressed investors are finding one of the best opportunities in a generation to buy troubled U.S. real estate assets.Most read articles on BloombergPrivate equity firms are already gearing up to seize the opportunity: About 64% of the $400 billion the industry has set aside for real estate investments is headed to North America, the highest share in the past two decades, according to data compiled by Preqin.Elsewhere, there are fears that a stronger U.S. bias could mean the rest of the world won't generate the same demand…
Published on July 10, 2024 at 6:29 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. Marge, Getty Images Thirty-year fixed mortgage rates average 7.46%, while 15-year fixed mortgage rates average 6.7% and jumbo mortgage rates average 7.41%. *Data is current as of July 9, 2024. 30-year fixed mortgage rate Mortgage rates on 30-year fixed loans averaged 7.46%, up from 7.41% last week. That's down from 7.52% last month and up from 7.44% a year ago. Based on current…
Crypto market participants are eagerly awaiting the US Consumer Price Index (CPI) data, which is expected to be released on Thursday, July 11. In particular, financial markets across the board will be closely monitoring the key inflation data, as it could dictate the Federal Reserve’s upcoming stance on interest rate plans.Here we consider Wall Street estimates and the potential impact of US CPI data on the Fed's rate cut decision.Wall Street bets on US CPI data declineAccording to market expectations, Thursday's inflation data is expected to provide some relief to financial market participants as well as the cryptocurrency market. In…
JOHNSTOWN, Pa. – The Richland Township Planning Commission is recommending that the township supervisors amend the zoning map so that the former MetLife Insurance Company property is classified as a university district rather than a commercial district.According to the Cambria County Recorder's Office, the property at 504 School House Road was formerly owned by the University of Pittsburgh-Johnstown and was transferred to MetLife on Dec. 29, 1975.Julian Beguelin, chairman of the Richland Township Planning Commission, said the zoning change would essentially return the land to its original University District classification. In June, MetLife and the University of Pittsburgh-Johnstown jointly filed…
Investment into Scottish commercial property fell in the first six months of 2024 as uncertainty around interest rates caused investors to pause their consideration in the second quarter, according to new data from Knight Frank. Analysis of data from independent commercial property consultancy RCA has found that around £750 million was invested in Scottish commercial property between January and June 2024. This is 19% down on the £922 million in the same period last year and 22% below the five-year average of £954 million, but more than double the £447 million in 2020. Figure 1: Total investment in Scottish commercial…
Federal Reserve Chairman Jerome Powell warned Congress on Tuesday that keeping interest rates high for too long threatens economic growth and jobs. “Higher inflation is not the only risk we face,” Powell said.At a congressional hearing, Chairman Powell suggested that combating inflation remains a priority, but that Fed policymakers are focused on when to cut rates.The U.S. economy is “no longer overheating,” Powell said, adding that the job market has “cooled off significantly” from its surge after the initial damage caused by the pandemic.”We know that reducing policy restraints too quickly or too much could stall or reverse the progress…