Archive for April, 2007

The Mortgage Clinic: Your questions answered

Monday, April 30th, 2007

‘Should I pay the fees and move to a fixed rate?’
HS, Clapham, London
Many commentators think that at least one more rate rise is on the cards, but no one can say where rates will go in the next two years. You’ll have to make an educated guess to decide which option is best […]

Interest rates to blame for house repossessions: Minister

Monday, April 30th, 2007

New South Wales Minister for Housing, Matt Brown, has blamed rising interest rates for the number of house repossessions in Sydney.
Mr Brown has responded to reports that more than 5,000 homes were repossessed in Sydney last year, up by 10 per cent from 2005.
He says while some banks lend irresponsibly, the Federal Government must take […]

AFX NEWS BRIEFING: Macroeconomics highlights to 10:10 GMT

Monday, April 30th, 2007

2007-03-10 00:01:14
UK economy slowed down to below-trend growth in 3 months to Feb - NIESR
LONDON (AFX) - The UK economy has suffered a quite dramatic slowdown in the
first couple of months of the year, a leading economic think-tank said today.
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
For more information and to contact AFX: […]

Dollar hits 90 cents US on strong GDP report

Monday, April 30th, 2007

The Canadian dollar topped90 cents US for the first time in seven months on Monday following a stronger-than-expected GDP report.
The economy grewby 0.4 per cent in February, thanks to higher activity in the energy sector, Statistics Canada said Monday. That was twice the growth rate forecast by analysts and led to speculation that the […]

No longer as safe as houses

Monday, April 30th, 2007

The question preoccupying bankers lately is whether the turmoil in the American housing market will be the next frenzy to hit our shores.
Looking across the Atlantic, things are far from pretty. There the property market has been gripped by a major crisis of confidence, triggered by the meltdown in so-called ’sub-prime’ mortgages. Defaults are […]