Aussie mortgage lending on the uptrend
Home loan approvals in Australia have increased, as home buyers are confident that interest rates will stagnate or decline in the coming months.Data from the Australian Bureau of Statistics revealed that the number of home loans granted in August climbed 1.2 percent to 50,965, marking the fifth...
Continue Reading • 13 Oct 2011
Landed home approvals for PRs to decline on tighter rules
The number of approvals granted to permanent residents (PRs) who want to acquire landed homes in Singapore will likely fall by more than 50 percent after the criteria was further tightened recently, according to Law Minister K Shanmugam.“After the further tightening, I suspect we are...
Continue Reading • 13 Oct 2011
Tengah, Bidadari seen as possible new towns
Morning UpdateTo cope with the growing population, the government has identified the areas of Bidadari and Tengah as potential residential estates. The plan was highlighted yesterday by National Development Minister Khaw Boon Wan in an addendum to the President's address. In a statement, Mr Khaw...
Continue Reading • 13 Oct 2011
Remortgage activity driving UK housing market
The UK mortgage market was revitalised in August after re-mortgaging and lending to first-time buyers and home movers increased, following the implementation of lower interest rates.According to data released by the Council of Mortgage Lenders (CML), the number of re-mortgages climbed 33 percent...
Continue Reading • 12 Oct 2011
FICO, CoreLogic to develop new US credit risk scoring solutions
Mortgage lenders will soon have access to a prospective borrowers’ financial history, such as inquiries to pay-day lenders, previous rental applications and child support payments — all factors which will be taken into account for a new credit score.CoreLogic, a leading provider of...
Continue Reading • 11 Oct 2011
MAS expected to slow currency appreciation
Economists are expecting the Monetary Authority of Singapore (MAS) to slow the country’s currency appreciation when it releases its mid-year monetary policy statement on 14 October.“In the past few weeks, the situation in the global economy has deteriorated sharply, exacerbated by...
Continue Reading • 11 Oct 2011
Australand to delist from SGX tomorrow
Australand Property Group, a wholly-owned subsidiary of CapitaLand, has announced that its exit offer has been completed and it will be delisted from the Singapore Exchange Securities Trading Limited (SGX) on 11 October 2011.“Australand will be delisted from the SGX with effect from 9:00am...
Continue Reading • 10 Oct 2011
Fixed-rate home loans gain steam in Singapore
With higher interest rates looming, borrowers are looking to fixed rate loans for security. The three-month Sibor, or interbank rate, closed at 0.38 percent on 7 October, approximately 12 percent more than its 0.34 percent closing on 9 September. DBS Bank said 20 percent of new borrowers...
Continue Reading • 10 Oct 2011
Housing market will stabilise, says PM Lee
The Singapore government should be able to “stabilise” the local housing market within the next four years, said Prime Minister Lee Hsien Loong, in a speech to mark the completion of a S$48.3 million upgrading effort in a housing project in Ang Mo Kio.In his speech, PM Lee said that...
Continue Reading • 10 Oct 2011
Former DBS Land CEO to build mixed project in Chengdu
Former DBS Land CEO Han Cheng Fong has announced his decision to develop a 3.1 million sq ft mixed commercial project on his own in China.“This is the first project I am doing on my own,” he said. “In the past, I have worked for fairly large companies, with a lot of financial...
Continue Reading • 7 Oct 2011
Aussie borrowers prefer fixed-rate loans
Many Australians seeking home loans are leaning towards fixed rate mortgage products, according to an industry expert.Kristy Sheppard, company spokesperson for Mortgage Choice, noted that 45 percent of the home loans purchased in September fell into this category. She stressed that most consumers...
Continue Reading • 7 Oct 2011
Interest-free loans will help low income Thais
The Government Housing Bank (GHB) in Thailand has offered interest-free loans of up to THB1 million (US$32,082) for the first three years, aimed at helping low-income home buyers.The GHB has allocated up to THB20 billion (US$641.6 million) for the programme, which was financed through government...
Continue Reading • 6 Oct 2011
US borrowers to get new discounts
US mortgage lenders are introducing discounts and promotions in light of falling mortgage rates to lure reluctant home buyers. However, critics believe the latest offers fall short of the best deal for borrowers — lower rates.A growing number of lenders, from banks to credit unions, are...
Continue Reading • 5 Oct 2011
Rail Corridor chosen as project name for former railway land
After much discussion and deliberation to arrive at a project name for the upcoming development on the former railway land, members of the Rail Corridor Consultation Group (RCCG) have decided to call the project the “Rail Corridor”.The project’s final name was announced by Tan...
Continue Reading • 4 Oct 2011
Govt making good progress in meeting flat demand: Khaw
In his latest blog entry, National Development Minister Khaw Boon Wan said the most recent launch of Build-To-Order (BTO) and Sale of Balance (SBF) flats in September is “making good progress” in meeting housing needs.In the post entitled “Light at End of Tunnel”, Mr Khaw...
Continue Reading • 4 Oct 2011
Aussie consumers keen on fixed-rate deals
Mortgage buyers in Australia are turning to fixed-rate loans as they seek refuge from volatile investment markets and banks slashing rates to boost their lending business.According to a new survey, demand for such mortgages increased last month, coinciding with measures by a number of lenders to...
Continue Reading • 4 Oct 2011
CommercialGuru records 500% traffic growth in one year
Fuelled by robust local and international demand for commercial property in Singapore, CommercialGuru.com.sg, Singapore's only commercial property website has witnessed a remarkable 500 percent increase in traffic over the last 12 months.Launched in August 2010, the website is used by over...
Continue Reading • 3 Oct 2011
MGPA to launch Asian real estate fund for German investors
MGPA plans to launch a core plus special fund under German investment law for investments in Asia. Its main focus is to establish markets in Hong Kong, Japan, Malaysia, Singapore, South Korea and Taiwan.Intended for German-speaking investors, the special fund’s goal is to raise €500...
Continue Reading • 3 Oct 2011
UK home loans tumble to record low
Lenders are granting the most affordable mortgages yet, as shown by official figures released last week.The rock-bottom rates translate to an annual savings of approximately £500 on the usual £145,000 loan, with monthly repayments falling from £772 to £730.The numbers...
Continue Reading • 3 Oct 2011
US mortgage rates hit record low
Following the Federal Reserve’s announcement to further reduce borrowing costs, mortgage rates in the US have fallen to a record low.According to data from Freddie Mac, the average rate for a 30-year fixed mortgage fell to 4.01 percent from 4.09 percent in the week ended yesterday, the...
Continue Reading • 30 Sept 2011