Aussie mortgage arrears rise to record-high in May

Aussie mortgage arrears rise to record-high in May
Late repayments on prime loans increase for sixth consecutive month
 
(MELBOURNE) Australia’s mortgage arrears rate rose to a record in May as home owners struggle to meet loan repayments which have surged with the highest interest rates in 12 years, according to Standard & Poor’s.
 
Payments more than 30 days [...]

Home loan rates at five-year high

Home loan rates at five-year high
 
A DEAL to save the United States housing market cannot come too soon: The troubles of mortgage finance giants are pushing up home loan rates to their highest levels in five years.
 
The average interest rate for 30-year fixed-rate mortgages rose to 6.71per cent on Tuesday, from 6.44per cent last [...]

$1.99b loan for Farrer Rd condo

$1.99b loan for Farrer Rd condo
 
It’s S’pore’s biggest syndicated loan for a residential project, says CapitaLand
 
By LYNETTE KHOO
 
THE en-bloc purchase of Farrer Court site - which has made many of the sellers millionaires - has achieved many superlatives, the latest being the $1.996 billion loan raised by the CapitaLand-led consortium that is [...]

Australia dodges worst of global mortgage crisis

Australia dodges worst of global mortgage crisis
There’s no hangover of unsold homes here unlike US’s record glut
 
(SYDNEY) Australia, like many rich nations, is in the throes of a painful housing slump but there are peculiarities here that mean the impact on the domestic economy will be a lot less brutal.
 
Crucially there is no hangover of [...]

Price surge last year sees more owing over $1m

Price surge last year sees more owing over $1m
 
Number of such borrowers nearly doubles to 8,280 in April from a yr ago
 
By SIOW LI SEN
 
BANKS have been tightening the screws on first-time home buyers but more big loans have been made. More speculators and investors have also taken additional mortgages.
 
The number of [...]

HSBC’s new home loan package inverts model

HSBC’s new home loan package inverts model
Customers may pay lower rates in successive years in Sibor-pegged deal
 
(SINGAPORE) HSBC is launching a radical home loan package - featuring a decreasing interest rate spread - which is making some rivals scratch their heads.
 
HSBC’s new Sibor- pegged home loan package with loyalty discount gives a reduction in the [...]

Sub-prime will take 1-2 years to sort out: Wee

Sub-prime will take 1-2 years to sort out: Wee
 
UOB head calls it the worst crisis he has seen in 48 years
 
FOR those caught up in the sub-prime crisis, the light at the end of the tunnel is going to take one to two years to emerge, according to United Overseas Bank (UOB) chairman Wee Cho [...]

Asia will avoid sharp slowdown, says ADB

Asia will avoid sharp slowdown, says ADB
 
EMERGING Asia looks set to avoid a sharp slowdown given strong economic growth in China, the head of the Asian Development Bank (ADB) said yesterday.
 
Asia should also easily avoid a repeat of the financial crisis that rocked the region a decade ago, ADB president Haruhiko Kuroda told a press [...]

UK mortgage loans fall to 9-year low in May

UK mortgage loans fall to 9-year low in May
 
(LONDON) UK mortgage approvals fell to the lowest in at least nine years in May, a sign that the housing slump is deepening.
 
Banks granted 42,000 loans for house purchase, compared with 58,000 in April, the Bank of England said in London yesterday. The result was the lowest [...]

S’pore short rates dive, defying expectations

S’pore short rates dive, defying expectations
Analysts believe yesterday’s big move was due to intervention by MAS
 
(SINGAPORE) Short-term interest rates plunged yesterday to almost hit a year low, causing some analysts to scratch their heads after saying last week the bottom had been reached.
 
The three-month Singapore interbank offer rate (Sibor) fell 12.5 basis points to 1.25 [...]