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ASB cuts floating home loan rate (Stuff)
The ASB Bank has been fast out of the blocks in the wake of the cut to the Official Cash Rate, cutting its floating home loan rate to 7.95 percent from 8.70 percent.
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Home Loan Fraud Still Rising; Florida Leads Nation (HispanicBusiness.com)
Despite more stringent underwriting of mortgages in the wake of record foreclosures, lenders continued to battle home loan fraud during the second quarter of the year, with Florida borrowers again submitting more questionable loan applications than borrowers in any state in the nation, according to an industry report released Tuesday.
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ShareChat News: Two banks cut home loan rates (ShareChat)
Two banks have already responded to the Reserve Bank’s 150 basis point OCR cut today. Kiwibank has reduced all its home loan rates, while ASB Bank has cut 75 points off its floating rate, bringing it down to 7.95% Kiwibank’s one-year fixed rate is 6.49% and its variable rate is down to 7.45%.
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Banks slash home loan rates (Otago Daily Times)
Banks moved within hours to slash home loan rates in the wake of the Reserve Bank cutting its official cash rate by a record 1.5%age points to 5%. State-owned Kiwibank said it was offering a one-year fixed rate of 6.49% and a variable rate of 7.45%.
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St George cuts home loan rates (Sydney Morning Herald)
St George has cut its variable home loan rates, but did not pass on the full cut in the official interest rate.
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St George cuts home loan rate by 85bps (Sydney Morning Herald)
St George Bank has cut its standard variable home loan interest rate by 85 basis points to 6.89 per cent.
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Home loan firms not to cut rates (Business Standard India)
Say cost of funds too high to lower lending rates. A slew of measures by the Reserve Bank of India (RBI) during the last few weeks may have led to a reduction in home loan rates by public sector banks, but housing financial companies (HFCs) are in no mood to reduce lending rates.
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Record rise in US home loan applications (Financial Times)
A record surge in US home financing activity over the past week has followed the planned purchase of $500bn in mortgage securities by the Federal Reserve.
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CBA, NAB & Westpac banks cut home-loan rates (Reuters via Yahoo! Malaysia News)
SYDNEY, Dec 2 (Reuters) - Australian lenders Commonwealth Bank and National Australia Bank moved on Tuesday to cut their standard variable-rate home loan by 100 basis points, matching a cut in the official cash rate.
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US rescue plan to push down home loan rates (Financial Times)
The US Treasury is working on a new plan to help revive the ailing housing market by reducing mortgage rates on new home loans, according to people briefed on the situation.
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