 Home Loans |
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Stocks face pressure as third-home loans halted
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Banks in four major cities have halted all third-home loans on orders of the industry regulator, mainland news agencies reported. Bank and property stocks recovered last Friday but analysts believe they will come under pressure this week.
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Home loan approvals weakest since 2001
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The number of home loans taken out by owner-occupiers in June slid 3.9 per cent compared to the previous month.
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SBI eyes big surge in home loans
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Mumbai: State Bank of India (SBI), India’s largest lender, is neck and neck with mortgage leader and pioneer HDFC in terms of home loans outstanding, according to data from Icra, the rating agency.
Now it wants to pull ahead.
The bank is aiming to increase its home loan portfolio (opening balance of loans plus loans disbursed less repaid in a year) by 31% this year, the same as last fiscal, but the pie will be bigger because of a larger base or compounding.
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Why you should avoid a mortgage balloon loan
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There is one type of risky mortgage loan that seems to entice many buyers because of the short-term gains. The balloon loan may look harmless enough at first, and it may even remind you of the hybrid mortgage loans. However, there are some serious pitfalls with this type of loan you need to be aware of.
In this type of loan, you get a fixed interest rate for a predetermined period (perhaps five or 10 years). The big caveat, however, is that your entire balance will become due at the end of this predetermined period. Did you get that? You will have to pay off the remaining balance -- the complete loan!
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RAMS ignites home loan price war
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RAMS Home Loans has fired the first shot in what promises to be a mortgage price war, undercutting the major banks on fixed rate home loans.
The lender will slash its two- and three-year fixed rate home loans by 0.31 percent.
From today the two-year fixed rate is 6.98 percent, making it the cheapest in the fixed market, and the three-year fixed rate is 7.23 per cent, in line with the lender’s standard variable home loan rate.
The cuts come despite the widespread expectation of future interest rates rises, and may prompt a rates war as rival lenders and big banks look to compete.
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