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What does reform mean for mortgages?
More supervision of lenders may be a good thing, but if it’s too restrictive it could lead to fewer products.
by Julian Knight
The world financial crisis started with the mortgage market; so it’s logical, when the Chancellor, George Osborne, announced his plans for reform of financial regulation, that greater supervision of home loans [...]
Low Interest Rates: No Need to Rush
PRINT A A A Everyone knows interest rates are going up … eventually. But so far this year they’ve stayed much lower, much longer than experts predicted.
Average interest rates for 30-year home loans slid to 5.06 percent (plus 0.7 percent in fees) for the week ending April 29. That’s down from 5.07 percent the [...]
Desperate families turning to credit cards with 60% interest rates as high …
By James ConeyLast updated at 9:09 AM on 05th March 2010
One million desperate consumers shunned by High Street banks have turned to a sub-prime credit card – charging rates as high as 60 per cent.
Credit firm Provident Financial today revealed it was receiving more than 2,700 applications a day for its Vanquis credit card.
This card [...]
The Great Goldman Sachs Fire Sale of 2008
From William D. Cohan at Opinionator:
When President Obama said that he “like most of the American people, don’t begrudge people success or wealth,” he was of course simply repeating a bedrock principle of American capitalism that even the worst financial crisis since the Great Depression cannot dislodge.
But one wonders if the president would be a [...]
Northern Rock to lift savings guarantee
The Treasury is thought to be planning to give three months’ notice before taking away the 100 per cent guarantee introduced by the Chancellor on all Northern Rock deposits in 2007 to halt the run on the bank.
Northern Rock was split into a “good” and “bad” bank on January 1. the government wants to sell [...]
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