Credit rates – Slim De Walk http://slimdewalk.net/ Wed, 21 Sep 2022 05:44:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://slimdewalk.net/wp-content/uploads/2021/10/icon-8-120x120.png Credit rates – Slim De Walk http://slimdewalk.net/ 32 32 Asian stocks fall ahead of Fed interest rate decision https://slimdewalk.net/asian-stocks-fall-ahead-of-fed-interest-rate-decision/ Wed, 21 Sep 2022 03:24:00 +0000 https://slimdewalk.net/asian-stocks-fall-ahead-of-fed-interest-rate-decision/ By YURI KAGEYAMA, AP Business Writer TOKYO (AP) — Asian stocks mostly fell on Wednesday as investors eagerly awaited a widely expected interest rate hike from the U.S. Federal Reserve as it strives to squash deepest inflation. high for decades. Japan’s benchmark Nikkei 225 fell 1.4% in morning trade to 27,308.66. Australia’s S&P/ASX 200 fell […]]]>

By YURI KAGEYAMA, AP Business Writer

TOKYO (AP) — Asian stocks mostly fell on Wednesday as investors eagerly awaited a widely expected interest rate hike from the U.S. Federal Reserve as it strives to squash deepest inflation. high for decades.

Japan’s benchmark Nikkei 225 fell 1.4% in morning trade to 27,308.66. Australia’s S&P/ASX 200 fell 1.4% to 6,712.40. The South Korean Kospi fell 0.9% to 2,346.62. Hong Kong’s Hang Seng fell 1.4% to 18,524.48, while the Shanghai Composite fell 0.2% to 3,115.08.

Global tensions add to uncertainties. The Russian-controlled regions of eastern and southern Ukraine have announced plans to begin voting this week to become integral parts of Russia.

Kremlin-backed efforts to gobble up four regions could pave the way for Moscow to escalate the war against Ukraine. Russian President Vladimir Putin recently lambasted what he described as US efforts to preserve global dominance and ordered officials to increase arms production.

political cartoons

“Asian stocks traded in defensive mode on Wednesday. There were geopolitical tensions regarding Russia and Ukraine, where separatists are due to hold a referendum in some regions, and traders were waiting for an update from Putin,” he said. said Anderson Alves of ActivTrades.

On Wall Street, the S&P 500 index fell 1.1% to 3,855.93 as more than 90% of stocks and all sectors in the benchmark lost ground. The Dow Jones Industrial Average fell 1% to 30,706.23. The Nasdaq composite also fell 1% to 11,425.05.

The selloff came as traders waited to see how much the Fed would hike interest rates at its meeting that ends Wednesday.

“The market is definitely bracing for the worst and you’re seeing some mild selling pressure,” said Paul Kim, CEO of Simplify ETFs.

Retailers, technology stocks, healthcare companies and banks were among the highest weightings in the market. Best Buy fell 4.1%, Microsoft fell 0.8%, Abbott Laboratories fell 1.7% and JPMorgan Chase closed down 2%. Exxon Mobil fell 0.8%.

Small company stocks fell more than the broader market. The Russell 2000 Index fell 1.4% to 1,787.50.

Bond yields mostly rose slightly. The 10-year Treasury yield, which influences mortgage rates, rose to 3.56% from 3.52% late Monday and is trading at its highest levels since 2011.

The 2-year Treasury yield, which tends to track Fed action expectations, held steady at 3.95%, hovering around its highest levels since 2007.

Stocks fell and Treasury yields rose as the Fed hiked borrowing costs in hopes of curbing the highest inflation in four decades.

Fed Chairman Jerome Powell bluntly warned in a speech last month that rate hikes “would cause pain.”

“He did everything he could to signal that this would be another aggressive move,” said Liz Young, head of investment strategy at SoFi.

The Fed is expected to raise its key short-term rate by three-quarters of a point for the third time at its meeting on Wednesday. That would take its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level in 14 years, and zero at the start of the year.

Beyond that, investors will focus on what Powell has to say, both in the Fed’s latest interest rate policy statement and at an afternoon press conference, to whether the central bank remains primarily focused on reducing inflation, or if there is a hint the Fed is paying more attention to the impact of higher rates on the economy.

Wall Street fears the rate hikes will go too far in slowing economic growth and pushing the economy into a recession.

Ford fell 12.3% for the S&P 500’s biggest drop after cutting its third-quarter profit forecast as a parts shortage will leave it with up to 45,000 unfinished vehicles on its lots at the end of the quarter. September 30. Last week, FedEx and General Electric warned investors of the damage to their operations from inflation.

The United States is not alone in suffering from runaway inflation or dealing with the impact of efforts to curb high prices.

The Bank of Japan began a two-day monetary policy meeting on Wednesday, although analysts expect the central bank to stick to its accommodative monetary policy. Rate decisions from Norway, Switzerland and the Bank of England come next.

In energy trading, benchmark U.S. crude rose 15 cents to $84.09 a barrel in electronic trading on the New York Mercantile Exchange. It fell 1.5% on Tuesday, weighing on energy stocks. Brent crude, the international standard, added 22 cents to $90.84 a barrel.

In currency trading, the US dollar fell from 143.74 yen to 143.81 Japanese yen. The euro fell to 99.64 cents from 99.73 cents.

AP Business Writers Damian J. Troise and Alex Veiga contributed to this report.

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Copyright 2022 The Associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Mortgage rates rise again, disrupting the housing market https://slimdewalk.net/mortgage-rates-rise-again-disrupting-the-housing-market/ Mon, 19 Sep 2022 13:28:25 +0000 https://slimdewalk.net/mortgage-rates-rise-again-disrupting-the-housing-market/ Rates on the 30-year mortgage continued to climb last week after the latest inflation reading, Freddie Mac said. (iStock) Rates on the 30-year mortgage crossed the 6% mark for the first time in 14 years last week as worse-than-expected inflation indicators hit the market, Freddie Mac said. The average rate on a 30-year fixed-rate mortgage […]]]>

Rates on the 30-year mortgage continued to climb last week after the latest inflation reading, Freddie Mac said. (iStock)

Rates on the 30-year mortgage crossed the 6% mark for the first time in 14 years last week as worse-than-expected inflation indicators hit the market, Freddie Mac said.

The average rate on a 30-year fixed-rate mortgage rose to 6.02% for the week ending September 15, according to Freddie Mac’s Core Mortgage Market Survey. This is an increase of The week before while it averaged 5.89% and is significantly higher than at the same time last year, when it was 2.87%.

Other loan terms also increased this week. The 15-year mortgage rose to 5.21% from 5.16% the previous week and from 2.18% last year. The five-year Treasury-indexed hybrid variable-rate mortgage (ARM) also rose to 4.93%, from 4.64% the previous week and from 2.43% last year.

“Mortgage rates have continued to rise alongside stronger-than-expected inflation numbers this week, topping 6% for the first time since late 2008,” said Sam Khater, chief economist at Freddie Mac. “While rising rates will continue to dampen demand and put downward pressure on home prices, inventory remains insufficient. This indicates that while the decline in home prices is likely to continue, it will not shouldn’t be important.”

If you’re looking to buy a home or refinance your current mortgage, comparing multiple lenders can help you get the best rate. Visit Credible to find your personalized interest rate without affecting your credit score.

INFLATION RISE SLIGHTLY IN AUGUST FOR THE SECOND CONSECUTIVE MONTH — WHAT IT MEANS FOR YOU

Rates rise in response to high inflation

August inflation figures showed consumers are still facing high prices despite the Fed’s efforts to bring inflation down.

The consumer price index (CPI), a measure of inflation, rose 8.3% annually in August, according to the Bureau of Labor Statistics. That was down from 8.5% in July and a four-decade high of 9.1% in June.

“While the headline figure has slowed from the June peak, core inflation remains stubbornly elevated, putting pressure on the Federal Reserve to maintain an aggressive stance on monetary tightening,” said George Raitu. , head of economic research at real estate agent.comsaid.

The Federal Reserve raised interest rates to curb high inflation. He approved back-to-back 75 basis point interest rate hikes in June and July. It is expected to raise rates again at its September meeting to as much as 75 basis points or even 100 basis points, Raitu said.

If you want to take out a mortgage or get a mortgage refinance, you might consider using an online marketplace like Credible to help you compare lenders and find the best rate for you.

TAPPABLE OWNER VALUE REACHES A NEW RECORD

Sellers lower home prices to attract buyers

Higher borrowing rates mean someone buying a home at the median price would currently face a monthly payment of $2,100, a 66% jump from last year, according to Realtor.com.

“With real median household income remaining relatively unchanged, many first-time homebuyers find the door to homeownership closed for this season,” Raitu said. “With borrowing costs expected to continue to rise over the coming months, it is becoming increasingly clear that house prices need to come down to restore balance to housing markets.”

Raitu said many sellers reacted to this change in market conditions by reducing their asking prices. Experts anticipate lower house prices, reviving a more balanced market vis-à-vis buyers.

If you’re considering buying a home and want to learn more about which mortgage product is right for you, visit Credible to speak with a home loan expert and get all your questions answered.

MORTGAGE RATES FALL AS INFLATION IMPROVES

Do you have a financial question, but you don’t know who to contact? Email The Credible Money Expert at moneyexpert@credible.com and your question may be answered by Credible in our Money Expert section.

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Economic uncertainty and higher interest rates in Harlem https://slimdewalk.net/economic-uncertainty-and-higher-interest-rates-in-harlem/ Sat, 17 Sep 2022 17:39:47 +0000 https://slimdewalk.net/economic-uncertainty-and-higher-interest-rates-in-harlem/ By Robert “Robb’ Pair, Founder & President, Harlem Lofts, Inc Welcome to the first Harlem Lofts Real Estate update for Harlem World Magazine! Harlem Lofts is a boutique real estate company incorporated in 2002 and located at 272 Lenox Avenue. Using a research-based strategy, we focus on seller representation with a specialization in Upper Manhattan […]]]>

By Robert “Robb’ Pair, Founder & President, Harlem Lofts, Inc

Welcome to the first Harlem Lofts Real Estate update for Harlem World Magazine!

Harlem Lofts is a boutique real estate company incorporated in 2002 and located at 272 Lenox Avenue.

Using a research-based strategy, we focus on seller representation with a specialization in Upper Manhattan townhouses and condominiums, while maintaining an extensive database of qualified buyers.

Our monthly market analysis videos are available on our YouTube channel at https://tinyurl.com/HLIYouTube

As our recent reports show, our research shows that after a very active year in 2021, the Upper Manhattan real estate market now faces tougher times in the face of economic uncertainty and rising interest rates. interest.

For example, townhouse inventory in all twelve Upper Manhattan zip codes is now at its highest level in five years (Chart 1, below), while the number of In-Contract registrations is at its lowest level in three years (Chart 2) and sales are stagnating.

This summer marked a transition from a nascent seller’s market in the spring, marked by low inventory and strong demand, to a buyer’s market this fall, with high inventory and increasingly prevalent seller’s discounts in the face of to market competition (Chart 3).

The good news for sellers, and worth noting for buyers, is that this transition will almost certainly be temporary. I predict that interest rate increases will be here for the foreseeable future, but over time buyers will accept them.

The current interest rate will become the new normal and the market will adjust to adapt to the changed landscape.

I also predict changes in the rental market will impact townhouse sales. Not all townhouses are the same: 1-2 family properties are residential while 3+ family homes are investment properties rated by rental income. I predict that sales of the latter will lead to a market recovery this fall – buy-to-let investment sales are on an upward trend that coincides with the significant increase in rents seen following the COVID-related downturn.

Final Thoughts

We hope you enjoy this article! Our understanding of the market puts us in a unique position to help our customers.

Future articles will focus on the condo and rental markets in Upper Manhattan. Please feel free to contact us at info@harlemlofts.com with your real estate needs, and on our website at https://harlemlofts.com/.

This report contains a lot of information! If you prefer a video summary, join us on our YouTube channel at: https://tinyurl.com/HLIYouTube

Robert “Robb’ Pair, Founder and President, Harlem Lofts, Inc.

Harlem Lofts Inc. is a real estate company incorporated in 2002 and located at 272 Lenox Avenue in Harlem, New York. The company covers all major types of residential real estate transactions in Upper Manhattan, with an emphasis on seller representation while maintaining an extensive, proprietary database of qualified buyers who we work with on a carefully personalized basis.

With an experienced group of industry professionals at its core, the employee-owned company is divided into three complementary divisions: Research, Sales and Purchasing. Our approach to real estate begins with exceptional quality research, which underpins our strategic sales model. We also work with qualified buyers on a carefully matched basis.

Harlem Lofts, 272 Lenox Avenue, Harlem, New York, 212.280.8866, info@harlemlofts.com, 212.280 8866.

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“Dr. Harry Delany is a renowned surgeon born and raised in Harlem, the son of the great jurist and civil rights leader, Hubert Delany….” This monthly post is written in Partnership with Harlem Cultural Archives.

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‘Home price decline likely to continue’ as mortgage rates top 6%: Freddie Mac and IRS to staff customer service hotlines for tax season https://slimdewalk.net/home-price-decline-likely-to-continue-as-mortgage-rates-top-6-freddie-mac-and-irs-to-staff-customer-service-hotlines-for-tax-season/ Thu, 15 Sep 2022 20:58:00 +0000 https://slimdewalk.net/home-price-decline-likely-to-continue-as-mortgage-rates-top-6-freddie-mac-and-irs-to-staff-customer-service-hotlines-for-tax-season/ Hi, MarketWatchers. Don’t miss these top stories. Yellen: The IRS will staff customer service hotlines for tax season now that it has $80 billion in the Inflation Reduction Act A frustrating lack of phone service at the IRS for taxpayers and tax preparers has been a glaring problem, experts said. Read more Is the real […]]]>

Hi, MarketWatchers. Don’t miss these top stories.

Yellen: The IRS will staff customer service hotlines for tax season now that it has $80 billion in the Inflation Reduction Act

A frustrating lack of phone service at the IRS for taxpayers and tax preparers has been a glaring problem, experts said. Read more

Is the real estate market really collapsing? Redfin’s chief economist shares his predictions

Inflation is high and interest rates continue to rise, leading to much speculation in the housing market, with many tossing around the word ‘crash’. Read more

Kim Kardashian Lists Her Calabasas Condo Unit and Hidden Hills Home (Again)

If you’ve always wanted to keep up with the Kardashians, now’s your chance to live like one. According to reports, Kim Kardashian is in the process of eliminating her real estate portfolio. Read more

Workers and Employers Set to Benefit from Medicare Drug Price Reforms, Research Shows

States can use the Inflation Reduction Act to increase drug savings in the commercial market Read more

Surprise! CDs are back in fashion with Treasuries and I-bonds as safe havens for your money

As interest rates rise and stocks fall, an old favorite – certificates of deposit – are making a comeback. Read more

‘Home price decline likely to continue’ as mortgage rates top 6%: Freddie Mac

The 30-year mortgage rate averaged 6.02% for the week ending Sept. 15, Freddie Mac said in its latest survey. Read more

‘An unrepentant career criminal’: Rapper Kafani sentenced to 7 years in prison for complex fraud involving mortgages and gold bars

Prosecutors say Mark Hicks had just been released from prison for another fraud when he began using stolen identities to obtain $2 million in bogus home loans. Read more

These cities take urban agriculture to the next level

Some innovative programs are bringing agriculture to a neighborhood near you, even in major cities. Take a look at what they’re doing to cultivate success with hyperlocal food Read More

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Oil prices fall slightly on prospect of higher US interest rates https://slimdewalk.net/oil-prices-fall-slightly-on-prospect-of-higher-us-interest-rates/ Wed, 14 Sep 2022 04:26:00 +0000 https://slimdewalk.net/oil-prices-fall-slightly-on-prospect-of-higher-us-interest-rates/ A view shows the Kozmino crude oil terminal on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel Join now for FREE unlimited access to Reuters.com Register SINGAPORE, Sept 14 (Reuters) – Oil prices edged lower on Wednesday on fears of another U.S. Federal Reserve interest rate […]]]>

A view shows the Kozmino crude oil terminal on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Join now for FREE unlimited access to Reuters.com

SINGAPORE, Sept 14 (Reuters) – Oil prices edged lower on Wednesday on fears of another U.S. Federal Reserve interest rate hike next week following an unexpected rise in consumer prices in August, outweighing support from OPEC’s strong oil demand growth forecast.

Brent crude futures fell 38 cents, or 0.4%, to $92.79 a barrel at 0407 GMT. U.S. West Texas Intermediate crude was at $87.02 a barrel, down 29 cents, or 0.3%.

Pressure on prices was a hotter-than-expected US inflation report on Tuesday that dashed hopes that the Fed could ease its rate-tightening policy in the months ahead. Fed officials are due to meet next Tuesday and Wednesday as inflation remains well above the US central bank’s 2% target. Read more

Join now for FREE unlimited access to Reuters.com

“A strong US dollar and the expectation of another large rate hike by the Fed weighed on sentiment,” said CMC Markets analyst Tina Teng.

The dollar climbed near a 24-year high against the yen on Wednesday. Oil is usually priced in US dollars, so a stronger greenback makes the commodity more expensive for holders of other currencies. Read more

In China, ongoing tough COVID-19 restrictions are squeezing fuel demand from the world’s largest oil importer. Read more

“China’s zero COVID policy remains intact and this will limit any rebound that emerges over the coming weeks,” Edward Moya, senior market analyst at OANDA, said in a note.

“The U.S. is the big wild card and if that demand outlook weakens, oil could resume its downward trajectory in place since the start of the summer.”

On the supply side, U.S. crude inventories rose about 6 million barrels for the week ended September 9, according to market sources citing figures from the American Petroleum Institute on Wednesday.

The U.S. government will release inventory data at 10:30 a.m. EDT (2:30 p.m. GMT) on Wednesday.

Providing some support for oil prices, the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday reiterated its forecast for global oil demand growth in 2022 and 2023, citing signs that major economies are doing better than expected despite headwinds such as soaring inflation.

Oil demand will increase by 3.1 million barrels per day (bpd) in 2022 and 2.7 million bpd in 2023, OPEC said in a monthly report, leaving its forecast unchanged from last month. Read more

Join now for FREE unlimited access to Reuters.com

Reporting by Isabel Kua; Editing by Kenneth Maxwell

Our standards: The Thomson Reuters Trust Principles.

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Foreclosure volume drops sharply on rate hike as August production hits four-year low https://slimdewalk.net/foreclosure-volume-drops-sharply-on-rate-hike-as-august-production-hits-four-year-low/ Mon, 12 Sep 2022 13:00:00 +0000 https://slimdewalk.net/foreclosure-volume-drops-sharply-on-rate-hike-as-august-production-hits-four-year-low/ dark knights Blue Mortgage Market Optimal Indices followed by 30-year rates as they started the month at a recent low and rose 50 basis points to end the month at 5.8% Total foreclosure volumes were down nearly 9% from July, with declines in both rate/duration (-13.9%) and refinances (-8.9%); purchase credits, which represented 82% of […]]]>
  • dark knights Blue Mortgage Market Optimal Indices followed by 30-year rates as they started the month at a recent low and rose 50 basis points to end the month at 5.8%
  • Total foreclosure volumes were down nearly 9% from July, with declines in both rate/duration (-13.9%) and refinances (-8.9%); purchase credits, which represented 82% of total activity, were down 8.7%
  • The number of purchase locks, which excludes the impact of surging home values ​​on dollar volume, is down 30% from last year and 16.1% from 2019, reaching its lowest level in August for more than four years
  • July marks the second month in a row that the number of purchase locks has fallen below pre-pandemic levels amid affordability headwinds
  • The average purchase price of financed homes has fallen by almost $12,000 (-2.7%) in August and is now down over more than $43,000 (-9.2%) since March
  • The average loan size has fallen further $4,000 in august at $340,000the fifth consecutive drop, as house prices fell month-over-month for the first time in three years

JACKSONVILLE, Florida., September 12, 2022 /PRNewswire/ — Today, Dark Knight, Inc. ( New York stock market :BKI) has announced the release of its latest Origination Market Monitor report, examining mortgage data through the end of August. Leverage daily data on lockout rates of the Black Knight Optimal Blue PPE – the most widely used pricing engine for mortgages – Originations Market Monitor provides the industry’s oldest and most comprehensive view of origination activity.

“Mortgage originators continue to feel the effects of interest rate and affordability issues,” said Scott Happ, president of Optimal Blue, a division of Black Knight. “Faced with higher rate headwinds and a shift to traditionally slower buying months, rate lock-in volumes fell nearly 9% in aggregate in August to their lowest level since December 2019. The number of purchase locks, which excludes the impact of soaring home values ​​on volume, is down 30% from a year ago. That number is now down more than 16% from 2019, marking the second month in a row that the number of purchase locks has fallen below pre-pandemic levels, as well as the lowest August number. low in more than four years. »

Pipeline data for the month showed overall dollar locked rate volume decreased 8.9% month-over-month, driven by a 13.9% drop in rate locks/rollover duration , which are now down 94.5% from last year. In-cash refinancing activity fell a further 8.9% from July, down 72.2% year-over-year. The refi share of the market held steady at 18%, the lowest share on record dating back to January 2018. Government loan products continued to gain market share as FHA foreclosure activity increased at the expense of conventional and non-conforming loan volumes, a trend also likely reflected in a further decline in average loan size – of $344,000 at $340,000. The overall average credit rating in August remained stable at 722.

“Interest rates rose again in August after falling slightly in July,” Happ explained. “This continues to have profound effects on home affordability, which fell to its lowest level in nearly 35 years to close the month. As we reported last month, house prices have started to retreat in some of the hottest domestic markets, particularly those on the West Coast. Similarly, we have seen declines in both the average purchase price and the average amount financed in each of the last 5 months, each down 9% since March. We’ll be keeping a close eye on this trend as the market enters the traditionally slower buying months ahead.”

Each month’s Originations Market Monitor provides high-level origination metrics for the United States and the top 20 metropolitan statistical areas by share of total origination volume. Much more detail on the August origination activity can be found in full Black Knight Originations Market Watch Report.

About the Dark Knight

Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage and real estate lending and servicing industries, as well as in the capital and secondary markets. Businesses leverage our robust integrated solutions across the homeownership lifecycle to help retain existing customers, win new customers, mitigate risk and operate more efficiently.

Our customers rely on our proven, comprehensive, and scalable products and our unwavering commitment to providing superior customer support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com/.

For more information:




michelle kersch

Mitch Cohen

904.854.5043

704.890.8158

[email protected]

[email protected]

SOURCEBlack Knight, Inc.

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Looking for a home loan? Find out the lowest interest rates based on your credit score https://slimdewalk.net/looking-for-a-home-loan-find-out-the-lowest-interest-rates-based-on-your-credit-score/ Sat, 10 Sep 2022 04:58:49 +0000 https://slimdewalk.net/looking-for-a-home-loan-find-out-the-lowest-interest-rates-based-on-your-credit-score/ Buying your own home is one of the biggest financial decisions. You consider several aspects before borrowing the funds for the long term, such as 15 to 20 years. Loan processing involves several due diligences before the fund is finally released to the borrower. When you decide to buy a house, the first thing that […]]]>

Buying your own home is one of the biggest financial decisions. You consider several aspects before borrowing the funds for the long term, such as 15 to 20 years. Loan processing involves several due diligences before the fund is finally released to the borrower.

When you decide to buy a house, the first thing that comes to mind is money. How will you organize the funds? Some people are self-financing, while others choose to borrow from financial institutions such as banks and housing finance companies.

The home loan interest rate is very important in the loan processing process. It decides your future repayments and how long you will repay the entire loan without delay or default. Almost everyone expects to borrow at a lower interest rate, but it is not possible. Several factors are useful when taking out a home loan.

Your credit score is very important as some banks offer lucrative interest rates to customers with higher credit scores. Interest rates can vary from lender to lender, but often a higher credit score works in favor of borrowers.

Read also: Why invest in international funds and how to do it

A lower rate is important because even a 0.5% interest difference can save you a lot of money when you start paying off your loan. People should check their credit scores when looking for a home loan. They need to know which lender offers the lowest interest rates to customers with credit scores of 750 or higher.

Your credit score can go up or down depending on your financial habits. Maintaining a good credit rating is important to ensure quick access to funds from financial institutions. If your credit score isn’t good enough to take out big loans like a home loan, it makes sense to follow financial discipline and improve your credit score.

You need to pay your bills on time and avoid delays and defaults on your outstanding loans. Find out the reasons for a lower score and see how you can improve to get the best deal when borrowing a home loan. Another strategy for borrowing in money-making transactions is to borrow jointly. If one person has a poor credit score and another has a high score, the bank may consider offering you the home loan you want. You can also borrow a higher amount jointly compared to individually.

Also read: Want to improve your eligibility for a personal loan? Follow these 4 tips

Some banks offer home loans based on your credit score. It helps you borrow at a lower interest rate from banks and other financial institutions. Banks offer good deals to people with higher credit scores considering the risk factor. People with higher credit ratings are often treated as low-risk accounts, with less chance of default or loan arrears. This is why a good credit score is always considered an advantage.

The table below compares home loan interest rates from selected banks and housing finance companies based on credit ratings. You can compare and make the decision based on what suits your needs. Always do your due diligence and read the terms and conditions of the loan agreement before making the final decision.

Home loan interest rates corresponding to different levels of credit rating

Note: The table consists of home loan interest rate data from banks and NBFCs which show their home loan rate linked to credit score on their website. The interest rate is indicative and in the actual situation, the rate may vary depending on various factors and the general conditions of the bank. Data as of September 06, 2022.

Compiled by Bankbazaar.com

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Local real estate market cooling as interest rates rise, say industry professionals https://slimdewalk.net/local-real-estate-market-cooling-as-interest-rates-rise-say-industry-professionals/ Wed, 07 Sep 2022 23:55:39 +0000 https://slimdewalk.net/local-real-estate-market-cooling-as-interest-rates-rise-say-industry-professionals/ Interest rate hikes have been another hurdle for many people still trying to buy a home. The Waterloo Region Realtors Association (WRAR) released its August report on Wednesdayindicating that the local housing market continues to cool, with prices declining as the average price for all residential properties in Waterloo Region fell to $750,849. “Today’s announcement […]]]>

Interest rate hikes have been another hurdle for many people still trying to buy a home.

The Waterloo Region Realtors Association (WRAR) released its August report on Wednesdayindicating that the local housing market continues to cool, with prices declining as the average price for all residential properties in Waterloo Region fell to $750,849.

“Today’s announcement by the Bank of Canada to raise its key rate by 75 basis points to 3.25% is discouraging news for borrowers as it affects their purchasing power,” said Megan Bell, President of WRAR in a press release.

The most expensive unit was a single-detached home with an average price of $851,654, while the lowest-priced housing option was the condominium category with an average price of $464,959.

Owen Lennox, a realtor with Lennox Realty Group, said he’s seeing a lot of bookings in the housing market right now, especially from buyers who aren’t sure what the best course of action is. He said sellers are also rethinking how best to secure the sale of their property.

“He’s kind of [the housing market] back to where, honestly, it really should be. It was way too fast before, and people really had to make really quick decisions,” Lennox said.

RECOVERY FROM HOME INSPECTIONS

The average home is currently on the market for 22 days, compared to an average of 16 days last August.

Home inspectors like Chad Hussey, who works at Pillar to Post Home Inspections, saw less business as homes sold within days of listing, many people opted out of a home inspection.

“During the pandemic it’s dropped about, at least probably 75%,” Hussey said.

“A lot of people, once they moved in before they moved all the furniture, had us come in and do an inspection to let them know what they bought,” he said. “Let’s hope there won’t be any big surprises.”

Hussey said pre-purchase home inspections are back on the rise.

“Now they know exactly what condition they have, what budget and what to expect,” Hussey said.

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Today’s National Mortgage Rates, September 6, 2022 | Rates are just above 6% https://slimdewalk.net/todays-national-mortgage-rates-september-6-2022-rates-are-just-above-6/ Tue, 06 Sep 2022 10:30:17 +0000 https://slimdewalk.net/todays-national-mortgage-rates-september-6-2022-rates-are-just-above-6/ Editorial independence We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money. Almost two years have passed with record mortgage rates. Now 2022 has […]]]>

We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money.

Almost two years have passed with record mortgage rates. Now 2022 has started with rates up from pre-pandemic levels.

Don’t cancel your home buying plans just yet. Although rates are higher than they were last year, they are still considered “normal” from a historical perspective. Only a few years ago, 30-year fixed rates were in the top 5%.

Either way, home buying decisions take a lot more into consideration besides the interest rate. Buying a house is making a lifestyle choice. What happens in the interest rate market can influence a decision, it is wise not to base it on just a few basis points of a mortgage rate. Setting and sticking to a realistic home buying budget is far more important than the rate you get.

Let’s take a look at current mortgage rates, where rates have been in the past, and what it all means for the borrower.

A handful of closely watched mortgage rates all climbed today. Fixed 30-year and 15-year mortgage rates have increased. The most common type of adjustable rate mortgage is the 5/1 Adjustable Rate Mortgage (ARM) also climbed.

The averages of the 30-year fixed, 15-year fixed and 5/1 MRAs are:

Mortgage rate forecasting: why do mortgage rates change?

Mortgage rates have increased due to various economic factors since the beginning of the year. High and persistent inflation matters, Jacob Channel, senior economic analyst at LendingTree, told us. The June inflation report showed inflation at 9.1%, the highest level in 40 years. But the latest July CPI report has year-on-year inflation at 8.5% – a sign that inflation is starting to subside.

To combat this inflation, the Federal Reserve raised its benchmark short-term interest rate. As inflation remained higher than expected, the Fed raised rates by 50 basis points in May, 75 basis points in June and 75 basis points in July.

Following the inflation report, mortgage rates soared ahead of the Fed announcement. “I think what we’re seeing is that lenders had already forecasted that the Fed was going to raise the fed funds rate by 75 basis points and they started preemptively pushing mortgage rates up,” we said. says Jacob Channel, senior economist at LendingTree. .

“There are signs that some of the main drivers of inflation are easing, such as the drop in oil and other commodity prices in July, slowing wage growth and easing pressures on the chain. However, service price increases driven by housing and pent-up demand for vehicles will keep inflation high in the coming months,” said Dawit Kebede, senior economist at the Credit Union National Association, in a statement. communicated.

What do today’s mortgage rates mean for your home buying plans?

Despite the dramatic increases, mortgage rates remain at relatively normal levels and are still considered historically favorable mortgage rates.

House prices are also on the rise, and as rates rise, this will also contribute to the rising cost of ownership. Prices have risen significantly from pre-pandemic levels, with a combination of limited supply of homes, higher construction costs and massive buyer demand driving the spike.

It’s also important to remember that while mortgage rates are significant and a difference of a point or two can mean a lot of money on a 30-year mortgage, experts advise against trying to time the market to get the best mortgage rate. Focus on finding the right home and do it when your personal lifestyle and financial situation indicate that it’s the right time.

Be sure to get quotes from different lenders to ensure you get the best deal, experts say. “The rate has a big impact on your monthly affordability as long as you keep that house,” Skylar Olsen, senior economist at Tomo, a digital real estate and mortgage company, told us. “It’s actually a critical part of that decision, and it requires shopping around.”

Closing costs and loan costs

When you take out a home loan, you need to be aware of closing costs. Closing costs can be anywhere from 3-6% of the loan amount and include fees such as loan origination fees, prepaid interest and property taxes. One way to reduce your outgoings is to accept a higher interest rate in exchange for credit from lenders. You can save money in the short term by using this strategy, so don’t overlook it if you plan to sell your home or refinance it in five to eight years.

Today’s Mortgage Refinance Rates

Refinancing has become a little more expensive today as 30-year and 15-year fixed refinance mortgages have seen their average rates increase. Shorter-term 10-year fixed rate refinance mortgages also saw an increase.

The average refinancing rates are as follows:

Check out the mortgage rates that meet your specific needs.

30-Year Fixed-Rate Mortgage Rates

The average 30-year fixed mortgage interest rate is 6.02%, an increase of 8 basis points from the previous week.

15-year mortgage rates

The median rate for a 15-year fixed mortgage is 5.20%, up 4 basis points from seven days ago.

The monthly payment on a 15-year fixed rate mortgage is higher than what you would pay on a 30-year mortgage. But 15-year loans have huge advantages: you’ll pay thousands less in interest and pay off your loan much faster.

5/1 ARM interest rate

A 5/1 ARM has an average rate of 4.46%, up 10 basis points from a week ago.

An ARM is ideal for individuals who will refinance or sell before the rate changes. If not, their interest rates could end up being remarkably higher after a rate adjustment.

For the first five years, a 5/1 ARM will typically have a lower interest rate than a 30-year fixed mortgage. Keep in mind that depending on your loan rate adjustment, your payment may increase significantly.

How We Determine Mortgage Rates

To get an idea of ​​how mortgage rates are changing, we rely on information collected by Bankrate, which is owned by the same parent company as NextAdvisor. The Daily Rates survey focuses on home loans where the borrower has a FICO score of 740+, an LTV of 80% or less, and lives in the home.

Mortgage interest rate data listed below based on the Bankrate Mortgage Rate Survey:

Updated September 6, 2022.

Frequently Asked Questions (FAQ) About Mortgage Rates:

How to benefit from the lowest mortgage rate?

Comparing mortgage offers is a great way to get the lowest interest rate.

The mortgage rate you’ll qualify for depends on a variety of factors that lenders take into account when assessing the likelihood of you paying off your home loan. Your credit score has an impact on your mortgage rate. And your loan-to-value (LTV) ratio matters, so having a bigger down payment is better for your interest rate.

But banks will see your situation differently. So you can provide the same documentation to three different banks and get offers with three different mortgage rates and equally varying fees.

When should I lock in my mortgage rate?

It is impossible to know which direction mortgage rates will go from one day to the next. That’s why a mortgage rate lock is such a useful tool, because it protects you if rates go up. And since interest rates are relatively low right now, you should lock in your rate as soon as possible.

A rate lock will only last for a certain amount of time, usually 30 to 60 days. If you’re having a problem with closing and it looks like your foreclosure rate is expiring, you should talk to your lender. It may offer a lock extension, however, you may need to pay a fee for this privilege.

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PennantPark Stock: 9% Yield, Monthly Payer, Benefits of Rising Rates (NYSE: PFLT) https://slimdewalk.net/pennantpark-stock-9-yield-monthly-payer-benefits-of-rising-rates-nyse-pflt/ Sun, 04 Sep 2022 13:15:00 +0000 https://slimdewalk.net/pennantpark-stock-9-yield-monthly-payer-benefits-of-rising-rates-nyse-pflt/ 8vFanI Are you familiar with the industry of business development companies recently? Known as BDC, these companies lend money to private companies, which also have co-sponsors, such as venture capital groups and hedge funds. We have covered several BDCs in our weekend articles, and this week we cover PennantPark Floating Rate Capital Ltd. (NYSE: LTFP), […]]]>

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Are you familiar with the industry of business development companies recently? Known as BDC, these companies lend money to private companies, which also have co-sponsors, such as venture capital groups and hedge funds.

We have covered several BDCs in our weekend articles, and this week we cover PennantPark Floating Rate Capital Ltd. (NYSE: LTFP), a BDC under the Pennant Park Investment Advisors Group platform.

Profile:

PFLT seeks to make direct secondary investments, debt, equity and loans. It focuses on companies owned by established mid-market private equity sponsors with a proven track record of supporting their portfolio companies. The fund seeks to invest through floating rate loans in public, private, mid-market companies with low capitalization or small market capitalization. It invests primarily in the United States and, to a lesser extent, in non-US companies. The fund typically invests between $2 million and $20 million. It also has PSSL, a Senior Secured Loan Fund. ((PFLT website)).

Source: Yahoo finance.

Assets:

As of 6/30/22, PFLT’s $1.23 billion portfolio consisted of 87% senior secured debt, 13% preferred and common stock, and less than 1% senior secured debt . As of 6/30/22, PSSL’s portfolio totaled $747 million and consisted of 87 companies with an average investment size of $8.4 million and had a weighted average return on debt investments of 8. 2%. PFLT’s debt portfolio is 100% made up of variable rate investments.

Port

LTFP website

PFLT focuses on mid-market companies, with an EBITDA range of $10-50 million. Its senior loans range from LIBOR + 5.5% to 7.5%. With LIBOR at 2.56% (down from just 0.09% a year ago), this gives PFLT a current average yield of around 9%.

medium market

LTFP website

The company has also invested in larger companies – 29% of its investments are in companies with over $50 million in EBITDA since 2015:

EBITDA

LTFP website

PFLT’s portfolio held 123 different companies as of 06/30/22, compared to 119 as of 03/31/22. Professional services, media, high tech, personal products and IT services are its top 5 exposures, totaling ~37.5%:

assets

LTFP website

Earnings:

LTFP’s fiscal year ends 9/30.

During its fiscal 3rd quarter (period ending 6/30/22), PFLT invested $104.8 million in 6 new portfolio companies and 39 existing companies, with a weighted average return on debt investments of 8.1%. Sales and redemptions of investments totaled $55 million for the quarter. As of June 30, 2022, PFLT had 2 unrecognized portfolio companies, representing 0.1% of its overall portfolio on a fair value basis.

Investment income for the period ending 6/30/22 was $25.7 million, up 23% from $20.9 million a year ago. NII totaled $11.8 million, or $0.29/share, up about 5% from $10.3 million, or $0.27/share a year ago.

During the quarter ending June 30, 2022, PSSL invested $31.5M (including $16.8M purchased from PFLT) in 4 new and 7 existing companies, with a weighted average return on debt investments 8.8%. Sales and redemptions of investments totaled $13.5 million during this quarter.

PFLT experienced strong growth in calendar quarters 1 and 2, with total investment income up approximately 25%, NII up approximately 15% and NII/Share up 9.4%. The number of shares increased by 6.56%.

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Dividends:

At its 9/1/22 closing price of $11.89, PFLT returned 9.59%. It has a strong leakage distribution coverage of 1.23X. His next monthly payment is expected to be ex-dividend on 9/16/22, with a payout date of approximately 10/03/22.

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Profitability and leverage:

ROA and ROE improved slightly over the last quarter and remained above BDC’s industry averages, while EBIT margin was slightly lower, but still above average. Debt/NAV leverage was 1.5X, above the industry average of 1.26X.

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PFLT’s annualized weighted average cost of debt for the nine months ended June 30, 2022 was 3.7%. It had $40.7 million in cash and $80.6 million of unused borrowing capacity under the credit facility as of 6/30/22. Rolling interest coverage remained stable during the quarter at 2.76X, as did the asset-to-debt ratio:

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Performance:

We last covered PFLT at the end of June 2022. It has risen by $1.07 since then, in addition to paying 2 monthly distributions.

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So far in 2022, PFLT has outperformed the S&P 500 and the BDC industry by wide margins. He also did this in the last quarter, but has had a tough time in the last month:

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Price targets and analyst estimates:

At $11.89, PFLT is about $5 below analysts’ low price target of $12.50 and about 10% below the middle price target of $13.25.

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Earnings estimates have increased slightly over the past month, from $1.17 to $1.19, for the fiscal year ending 9/30/22. They increased further for the next LRFP fiscal year, which ends 9/30/23, from $1.16 to $1.21:

estimates

Barrons

Estimates:

At $11.89, PFLT is selling at a discount of -2.62% from its 6/30/22 NAV/share of $12.21, slightly below the BDC industry average of a premium of 1% on the net asset value. PFLT’s earnings multiple, a price/NII of 8.81X, is well below the industry average of 13.45X, while its P/Sales and EV/EBIT are also below average.

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Parting Thoughts:

PFLT will benefit from higher interest rates, due to its 100% floating rate business model. On the liabilities side, 60% of its debt is at a fixed rate.

His discount on NAV isn’t as big as it was at the end of June, but with the often volatile September in full swing this week, we may soon see lower prices for PFLT and many other vehicles at high yield.

If you’re interested in other high-performance vehicles, we cover them every weekend in our articles.

All charts are provided by Hidden Dividend Stocks Plus unless otherwise stated.

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