| Loan rates on the up
One month after financial comparison site Moneyfacts warned of the imminent demise of the sub six per cent loan, there is only one such loan left on the market, says Moneyfacts analyst Michelle Slade. It seems that lenders are becoming more cautious, with growing numbers of individual voluntary arrangements, bad debts and defaults. The Moneyfacts analysis reveals differing trends for credit cards and loans, says Ms Slade: 'As the 0 per cent credit card market continues to flourish, with deals in excess of 12 months easily found (although lending criteria has been tightened), it is the more structured lending which seems to be bearing the brunt. Eight personal loan providers increased interest rates by around one to two full percentage points, and in one instance by seven per cent.' There are many reasons why this may be happening, speculates the analyst.
Jackson Breaks Down the Finals
They're extremely talented and skilled and I think Schneider's playing on top of his game, which makes them pretty balanced. "They're a good puck-control team, which is the best defense." Jackson said that playing against Michigan State can be frustrating, which is also how many people would describe playing against the Irish. "The biggest challenge will be, the way Michgian State plays, they're extremely balanced, they're extremely strong defensively," Jackson said. "As long as Boston College doesn't get frustrated and impatient with the puck, they can have success. But generally high-skilled teams get impatient when they don't get a chance to carry the puck into the zone. They're going to have to make the decision at times to dump it in." When the Irish played BC, Eagles captain Brian Boyle was still playing forward.
Free Mortgage? Look Again
It's hard to turn down a bargain. You've seen it on television: order in the next five minutes and get a free gift. Maybe you won't buy the latest gadget for $19.95, but if they throw in two gadgets, then how can you resist? The mortgage industry is exactly the same, with one catch: the money involved is a lot more serious. After all, if you can really find a "no-cost" mortgage, you could save thousands. Especially with Internet-based lenders like Popular's (Nasdaq: BPOP) E-Loan and GMAC's (NYSE: GM) Ditech, you'll often see opportunities to get a new loan or refinance an existing loan with no out-of-pocket costs. However, free offers are rarely simple acts of kindness. With those TV offers, if a gadget costs $0.50 to make, the manufacturer can afford to give you two for the price of one and still make a big profit.
Demistyfying Indymac's Alt-A Lending Business
Robert Craig-Stephenson submits: Thursday's news release from Indymac (NDE) caught my attention and being a trader in the mortgage industry, I was quick to see how this argument won't stand in front of anyone experienced in the nuances of non-prime mortgage. Indymac PR stated that between 2002-2006 their mortgage performance in terms of default is much lower than the comparable Alt-A universe. That number is 1 basis points versus 5 basis points. Think of basis points as "currency" in the mortgage world for now. The CEO also pitched in: "Saying Alt-A is between Prime and Subprime is like saying Pasadena (Indymac HQ) is between LA and Las Vegas.". I felt uneasy because these mortgage professionals could have shared four additional data/statistics crucial to make an informed decision to invest in any mortgage lender: * The years 2002-2006 were the best housing market in recorded US history.
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