Companies for Mortgages

	Subscribe

Better Mortgage Rates: Online or offline banks?

Mortgage lenders and holders have taken a battering lately, but companies like ING Direct, an online bank have been doing well whilst the larger bricks and mortar banks have tumbled over the last couple of months.

ING direct is offering a 5/1 year ARM online mortgage, which is an adjustable-rate mortgage where the rate adjusts after five years. Given that the national average rate is now at 6.01 percent the ING 5/1 ARM is 5.25 percent making it look more attractive to the consumer, Other On-line banks (read more…)

Category: Companies for Mortgages, Mortgage News | October 29th, 2008 | Comments (0)

Mortgage Rate Cuts: Westpac, ANZ and National Australia Bank

National Australia Bank, ANZ and Westpac announced today that they have cut their rates on fixed home loans. But customers who are already in fixed rate home loans will not benefit, the cut will benefit new borrowers.

Westpac was the first one in line to cut its rates by up to 1.1 percentage points this morning as it awaits Treasurer Wayne Swan’s approval for its merger with St George Bank. Westpac (read more…)

Category: Companies for Mortgages, Global Economy | October 13th, 2008 | Comments (1)

Tracker Mortgage rates down: but will your bank change its SVR?

If you have an existing tracker mortgage then the Bank of England’s announcement of a half a point cut today should put a small smile on your face, as your Tracker mortgage rate will follow down at the Tracker rate you hold.

The half a percent cut in interest rate will not benefit everyone, if you’re on a fixed rate you may be kicking yourself, and if you are on your banks standard variable rate (SVR) then it’s not (read more…)

Category: Companies for Mortgages, Europe, Interest Rates | October 9th, 2008 | Comments (2)