Don?t stick your neck out when rates go up Nov 3, 2009
9% p.a. off the standard variable rate for the first two years ... 09% discount on the Standard Variable Rate for the first year of your loan ... 09% discount on the Standard Variable Rate for the first year of your loan. (Sydney Morning Herald -- Sport)
Banks match RBA's rate move Nov 3, 2009
CBA moved almost an hour later, followed first by National Australia Bank and then Westpac, with the latter saying it would not lift all variable rates ... From Monday the new rate on ANZs standard variable rate home loan will be 6 ... From Friday NAB's flagship standard variable rate mortgage will be 6. (Sydney Morning Herald -- Business)
ANZ raises variable rates by 25bps Nov 3, 2009
25 per cent, as would other variable rate mortgage products. "Funding costs remain high and despite improvements in credit markets the average cost of wholesale funding is increasing which is continuing to place considerable pressure on mortgage margins," ANZ chief executive for Australia Graham Hedges said in the statement. (Sydney Morning Herald -- Business)
MetroCorp Bancshares, Inc. Announces Third Quarter Earnings with Net Income of $1.1 Million or $0.05 EPS, and Improvement in Net Interest Margin Oct 30, 2009
However, the effect of the decrease was partially offset by floor rates set on certain variable rate loans, substantially all of which had reached the floor rate as of September 30, 2009. Average earning assets grew 1. (Primezone Releases)
Guide to Finding the Best Fixed Rat... Oct 28, 2009
A fixed rate cash ISA will provide a saver with a higher rate than can be achieved through an account offering a variable rate. It is important to be aware of any early withdrawal charges as these could undermine the benefits of a. (Suite101.com)
Get Approval for the Best IVA Mortg... Oct 27, 2009
This may mean that an existing variable rate mortgage is more affordable, but this can be accurately assessed through the services of a. Why Apply for an IVA Mortgage. (Suite101.com)
California Flooding Muni Market Costs Taxpayers 1 Point Over Company Bonds Oct 26, 2009
California Sales Tax Bonds May Yield Less Than 5% This Week - Bloomberg. Updated: New York, Oct 26 04:21 London, Oct 26 08:21 Tokyo, Oct 26 17:21. (Bloomberg -- US)
Guaranty Bancorp Announces 2009 Third Quarter Financial Results Oct 24, 2009
Approximately 56% of the Company's outstanding loan balances are variable rate loans and are generally tied to an index, such as prime or LIBOR. As a result of the decline in rates discussed above, the average yield on loans for the Company decreased by 80 basis points from 6. 09% for the quarter ended September 30, 2008 to 5. (Primezone Releases)
What now for your finances? Oct 24, 2009
Most tracker deals come to an end after a few years - typically two, three or five - and then revert to the lender's standard variable rate (SVR) as the default option. With the average SVR currently standing at just under 4%, that means some borrowers suffer a jump in their repayments once their tracker rate expires. (BBC News -- Business)
Gordon College racks up losses Assumption College takes endowment hit Prep school endowments, budgets sink Oct 24, 2009
Milton, for instance, has a debt rating from Moody s of Aa3, but its variable rate bond is Baa1 ... Braintree-based Thayer Academy was paying above-market interest rates on variable rate debt because a bank that held a portion of the school s bond was downgraded. (Boston Business Journal, MA)
Deferred Student Loans Oct 21, 2009
A Stafford loan taken out before July 1st 2006 will attract a variable rate of interest. Should one have been signed-up to after this date, the interest rate will be fixed. (Suite101.com)
Credit card canceled without warning? Oct 21, 2009
Every one of my credit cards informed me that my interest is now going up and changing from a fixed rate to a variable rate. This is crazy. (Atlanta Journal-Constitution -- Business)
Different Types of Home Loans Oct 21, 2009
There are two types of variable rate home loans standard and basic. Standard variable rate loans offer features such as offset accounts, redraw facilities, extra repayments and loan portability ... Basic variable rate loans are cheaper but lack the features offered by standard variable rate loans. (Suite101.com)
Mortgage matters Oct 20, 2009
When it comes to remortgaging, the lender might no longer agree to lend to them, or the borrower might be left to pay the standard variable rate. Self-certified mortgages accounted for 49% of home loans being offered at the peak of the housing boom, but the market has dwindled as a result of the credit crunch. (BBC News -- UK)
New Gov't Plan Aims to Help Poor Borrowers Oct 20, 2009
Nope, it was the variable rate mortgage (of course swindled to the poor as an affordable alternative to a fixed rate loan), and the swaps on wallstreet betting that these loans would fail, and the institutions that sold the swaps did not keep capitol to pay for loses (because the mortgages would never go bad in large numbers). by Marc_1986 October 19, 2009 3:23 PM EDT. (CBS News)
Don't bet your house - 5.28 percent is a sure thing Oct 20, 2009
09% discount on the Standard Variable Rate for the first year of your loan ... Get a competitive variable rate and the protection of a cap should market rates rise ... 09% discount on the Standard Variable Rate for the first year of your loan. (Sydney Morning Herald -- Sport)
Harvard University Paid $500 Million to Exit Backfired Interest-Rate Swap Oct 19, 2009
There is a reason why, regardless of the issuers sophistication, there should be limits to their exposure to derivatives and variable rate bonds. . (Bloomberg)
Shine Vernon Team Files New Fraud Claims Today Against Charles Schwab Over YieldPlus Fund Misconduct Oct 16, 2009
In reality, the fund was heavily weighted with floating and variable rate bonds with long-term maturities, which gave the fund a weighted average maturity equivalent to an intermediate term bond fund. During the second half of 2007 and in 2008, when the fund was declining in value, these misrepresentations created the false illusion that if investors held on to their positions for the next six months to a year, the bonds held in the fund's portfolio would mature at face or par value and the fund... (Primezone Releases)
Confidence hits 2-year high on brighter outlook Oct 15, 2009
"Higher debt levels are likely to make households even more sensitive to increases in the standard variable rate.". Rising home prices been a big contributor to household debt. (Sydney Morning Herald -- Business)
Bloomington moves to refinance bonds Oct 13, 2009
That would leave the city's $14 million in variable rate bonds vulnerable to higher interest rates. In unrelated business the council debated whether it should adopt McLean County's proposed comprehensive land development plan. (The Pantagraph newspaper)
Student Debt Consolidation Loans - ... Oct 13, 2009
Turning variable rate debt into a loan at a fixed rate of interest means that the borrower knows precisely how much will be needed to repay debt each month. Interest payments. (Suite101.com)
Banks warned on mortgage rate rises Oct 13, 2009
So far each of the big four have limited the increase in standard variable rates to the 0 ... The RAMS decision, which still leaves its standard variable rate between 0 ... ANZVariable Rate (Unsecured). (Sydney Morning Herald -- Business)
Foreclosure rate inching upward in Cache Valley Oct 11, 2009
Four years ago, she and her husband bought a four-bedroom home with a variable rate mortgage that was set to go up and up and up to a point that they couldn t afford. Laurie was terrified of falling into foreclosure. (Logan Herald Journal, UT)
Powered by Mozo Oct 10, 2009
Get a competitive variable rate and the protection of a cap should market rates rise. How did you hear about Mozo. (Sydney Morning Herald -- Business)
Marietta: Bonds raise debt — and questions Oct 10, 2009
Morgan Keegan also brought the concept of variable rate SWAP agreements to Marietta. The SWAP protection was entered into to fix the hotel bond rates to an average of 5. (Atlanta Journal-Constitution -- Opinion)
Loan rates are on the move: compare now Oct 9, 2009
Get a competitive variable rate and the protection of a cap should market rates rise ... Get a competitive variable rate and the protection of a cap should market rates rise ... Ongoing variable rate. (Sydney Morning Herald -- Sport)
Savings rates up, up and away! Oct 8, 2009
Set up a monthly Automatic Savings Plan for $100 (or more) and receive a variable rate of 5 ... 00% above the variable rate of 3 ... 25% above the Standard Variable Rate and applies until 31/01/10. (Sydney Morning Herald -- Sport)
Consumer and bank relations strained Oct 7, 2009
99 percent interest rate on his MasterCard will be replaced by a variable rate nearly twice as high starting in November. "After they get bailout money, they want more," he said. (AZCentral -- Business)
Rates up: health check your home loan Oct 7, 2009
Note that we can only run a Health Check if you currently have a variable rate product ... Your current variable rate. (Sydney Morning Herald -- Sport)
BofA: Card rates won't go up ahead of law Oct 7, 2009
But effect will be blunted by moving many customers to variable rate plans ... Since most Bank of America customers have variable rate cards, however, they could still see their interest rates go up ... The North Carolina-based bank, along with Chase, in August switched most fixed-rate cards to variable rates to manage costs in light of the sweeping new reforms to the credit card industry. (MSNBC -- Business)
Big four banks: rates under review Oct 6, 2009
CBA, the country's biggest home loan lender, and NAB both have a standard variable rate at 5. 74 per cent - the lowest among the big four banks. (Sydney Morning Herald -- Business)
Pain in Spain May Linger as Banks Prop Up Property Prices to Avoid Losses Oct 2, 2009
Santander offers a variable rate mortgage at Euribor plus 1 percent, according to data published by El Pais newspaper. The bank also offers 100 percent financing, mortgage insurance and aid to holiday homes, according to the Web site. (Bloomberg)
Success of abstinence in cutting teen pregnancies is a 'myth' Sep 23, 2009
" In Britain, experts say that the Government missed its target of cutting the under-18 pregnancy rate by 15 per cent from its 1998 level in spite of the 150 million campaign to reduce pregnancies among young girls. It was also likely to miss its target of halving teenage pregnancies by 2010, probably achieving a reduction of about 17 per cent. http://www.telegraph.co.uk/news/uknews/1535684/Success-of-abstinence-in-cutting-teen-pregnancies-is-a-myth.html External Links More on Advertisement... (Yahoo News -- Birth Control)
Nanotube secrets of Damascus steel blade Sep 23, 2009
00% AER variable rate. Deposit between 1,000 and 500,000 for 12 months. (Yahoo News -- Nanotechnology)
Get a great credit cardand help a great cause Sep 23, 2009
It has a low variable rate based off the prime rate, so you won t see any surprise jumps. You can use it for all your purchases business or pleasure since it s accepted worldwide. (Mattoon Journal-Gazette, IL)
Get help through the home loan maze Sep 21, 2009
Ongoing variable rate ... St GeorgeDiscount Variable Rate ... 1% off the Standard Variable Rate for 12 months with our Advantage Package. (Sydney Morning Herald -- Entertainment)
Making mortgages Sep 20, 2009
The brokers are match-making lenders who want to convert the fixed-rate mortgage loans they make to us into a variable rate loan from another bank. Those other banks want to sell variable rate loans in exchange for a regular fixed-rate payment ... The same is true if they go to the newly re-opened international money markets where they can borrow money at a variable rate. (BBC News -- UK)
Save to prosper Sep 17, 2009
During the crisis, the Bank of England dropped the Bank rate and so variable rate mortgage holders saw their repayments drop significantly. Please turn on JavaScript. (BBC News -- UK)
Savings Accounts Sep 17, 2009
Set up a monthly Automatic Savings Plan for $100 (or more) and receive a variable rate of 5 ... 75% above the Standard Variable Rate and applies until 30/01/10 ... 65% pa over the standard variable rate, for 4 months from account opening. (Sydney Morning Herald -- Business)
Credit Cards Sep 17, 2009
Low variable rate on purchases - just 10. 99%p. (Sydney Morning Herald -- Business)
It's game on in real estate Sep 16, 2009
The Age: national, world, business, entertainment, sport and technology news from Melbourne's leading newspaper. John KavanaghSeptember 16, 2009. (Sydney Morning Herald -- Business)
Gwinnett to issue bonds for water upgrades Sep 16, 2009
The remaining $125 million in the new bonds will be used to restructure a 2004 bond offering that was issued with a variable rate. In a memorandum to commissioners, county officials said converting to a fixed-rate bond would provide budget certainty and better repayment terms. (Atlanta Journal-Constitution -- Metro)
ICL Announces Successful Placement of NIS 900 Million in Debentures Sep 11, 2009
- NIS 102 million of the Company's existing Series C Dollar-linked debentures, maturing in approximately four years, and paying a variable rate of interest of 2 ... Series D debentures are in nominal NIS and pay a variable rate of interest of 1. (PR Newswire)
Another $100 million earmarked for Switch & Data expansion efforts Sep 10, 2009
Interest will occur at a variable rate, currently sitting at 4. 5 percent, while repayment of the principal will take place between 2011 and 2014. (Tampa Bay Business Journal, FL)
Switch to variable rates now Sep 6, 2009
Borrowers should consider switching from fixed rate home loans to variable rate mortgages because they are cheaper over the longer run ... 5 per cent for home loans, while the standard variable rate issued by a bank was 5 ... Mr Walsh said borrowers should review their finances and consider variable rates because the major banks are "looking for a chance" to raise interest rates ahead of the RBA.. (Sydney Morning Herald -- Business)
HSBC offers 1.99% mortgage deal Sep 3, 2009
95% discount to the bank's standard variable rate of 3 ... "It will be interesting to see if this prompts other lenders into launching their own discounted variable rates.". (BBC News -- Business)
Personal debt dips for first time Sep 2, 2009
Anyone on a tracker or variable rate mortgage has seen a big reduction in monthly outgoings. So the question arises, what to do with the extra cashflow. (BBC News -- Business)
RBA indicates rate rises coming Sep 2, 2009
5 per cent, and pushing the standard variable rate to 6. 3 per cent, adding $90 per month to the cost of servicing a $300,000 mortgage. (Sydney Morning Herald -- Business)
Positive trends Aug 27, 2009
The number of foreclosures jumped when the economy went into recession last November for people who were in variable rate mortgages, or loans that allow the lender to change the interest rate periodically. Several property owners who had their homes foreclosed got variable rate mortgages in 2006, when the Klamath Basin housing market was booming ... Some lenders continue to offer variable rate mortgages, but buyers are no longer interested, Coe said. (Klamath Falls Herald & News, OR)
4 comment(s) Aug 26, 2009
Does the electric utility have any variable rate debt. No. (Lodi News Sentinel, CA)
Local difficulties Aug 24, 2009
When bond insurers and many letter-of-credit banks lost their top ratings, variable rates on the underlying debt skyrocketed ... But the variable rate the bank had agreed to pay the municipality remained much lower than what the municipality had to pay on its variable-rate debt. (FT.com -- Markets)
Paying for those home improvements Aug 22, 2009
"Lines of creditThere also must be a determination whether the loan is at a fixed or variable rate. there are pros and cons to each one.And with home improvement projects, there is always the possibility that the job may cost more than the original estimates. In such cases, it may be wise to try another bank product: home equity lines of credit."When you say a home equity loan, typically that refers to a fixed product, a fixed rate and a fixed term," Craig head said. "Home equity lines are a... (Sioux City Journal, IO)
New Credit-Card Rules Kick In Aug 21, 2009
The average variable rate on new cards is hovering at 11. 22%, according to Bankrate. (BusinessWeek)
Click to read:Reforms Looming, Card Issuers Hike Fees Aug 21, 2009
Since President Obama signed the reforms into law, the average variable rate has increased from 10. 8 percent to 11. (CBS News)
Turbo Power Systems Inc. (TPS) Announces Results for the Second Quarter and Six Months Ended 30 June 2009 Aug 14, 2009
As at 30 June 2009 the Company does not have any variable rate financial liabilities and is not exposed to interest rate risk on its fixed rate convertible notes. The Company may be exposed to interest rate risk in the future as the fixed rate convertible notes mature. (CCNMatthews Press Releases)
Two per cent rate rise to hit mortgagees Aug 14, 2009
" Official rates are currently at three per cent and could rise to five per cent or more by mid-2010, and it's expected the hike will be passed on to the current median standard variable rate of 5.69 per cent by the banks. Mortgage stress usually occurs when mortgage holders are paying more than 30 per cent of their income on repayments. The average wage in Australia was $62,218 a year in May, while the average standard variable mortgage is $270,000, the latest data from the Australian Bureau of... (Sydney Morning Herald -- Business)
Variable rates replacing fixed for cardholders Aug 13, 2009
As banks attempt to protect thinning margins and prepare for new requirements under the Credit CARD Act of 2009 that will limit an issuer's ability to change card terms, more cardholders are being notified that their fixed rate APRs are being switched to variable rates ... The two largest U.S. credit card issuing banks Bank of America and JPMorgan Chase are now switching some of their accounts from fixed to variable rates ... One was for variable rate cards. (MSNBC -- Business)
Xtreme Coil Achieves Strong 2009 2Q and Updates Operations Aug 13, 2009
This increase was offset somewhat by decreased interest rates between the periods on the Company's variable rate debt facilities. Income (Loss) Before Tax Three months ended Six months ended 2009 2008 % 2009 2008 % Jun 30 Jun 30 Change Jun 30 Jun 30 Change ---------------------------------------------------------------------------- Income (loss) before tax 2,969 (2,119) n/a 4,149 (1,587) n/a. (CCNMatthews Press Releases)
We'll adjust rates as necessary: Norris Aug 12, 2009
CBA's standard variable rate, at 5. 74 per cent, is still the equal lowest among the big four banks, together with National Australia Bank, ANZ Banking Group and Westpac Banking Corporation's rates are at 5. (Sydney Morning Herald -- Business)
Not in your best interest Aug 12, 2009
BIG BANKS EXIT FEES - STANDARD VARIABLE RATE HOME LOANS Exit fee ($) 1st year 3rd year 4th year 5th year Interest rate (%) Ongoing fee ($ per month) ANZ 700 700 700 0 5. 81 5 CBA 700 700 700 0 5. (Sydney Morning Herald -- Business)
Shop around for a home-equity loan Aug 11, 2009
During the real-estate boom years, you could get variable rate HELOC at "prime minus 1." That means that your interest rate would float based on the prime rate, minus 1 percent. Today, lenders are offering far less advantageous rates. (AZCentral -- Business)
Allied Properties Real Estate Investment Trust Announces Strong Second-Quarter Results Aug 11, 2009
Aside from $28 million drawn on its $70 million line of credit, it had no variable rate debt at the end of the quarter. In July, Allied placed a $5. (CCNMatthews Press Releases)
JER Investors Trust Inc. Announces Second Quarter 2009 Results Aug 11, 2009
Thereafter, we will pay interest at a variable rate equal to LIBOR plus 2. 25% annually. (PR Newswire)
Beware of getting into a fix Aug 10, 2009
Before you make any similarly rash decisions, it's important to realise that fixed rates have already moved far above standard variable rates ... 73 percentage points higher than the average variable rate of 5 ... To save money overall then, you need the variable rate to positively soar past your fixed rate. (Sydney Morning Herald -- Business)
RHI Entertainment Announces Results for the Second Quarter Ended June 30, 2009 Aug 6, 2009
As of June 30, 2009, all of the Companys debt was variable rate and totaled $583 ... 0 million, effectively converting that amount of debt from variable rate to fixed rate. (Yahoo! Wire -- Entertainment News)
