Circle KBL http://circlekbl.com/ Tue, 11 Jan 2022 13:11:14 +0000 en-US hourly 1 https://wordpress.org/?v=5.8.2 https://circlekbl.com/wp-content/uploads/2021/12/icon-95.png Circle KBL http://circlekbl.com/ 32 32 BNC National Bank Mortgage Review https://circlekbl.com/bnc-national-bank-mortgage-review/ Mon, 10 Jan 2022 17:34:24 +0000 https://circlekbl.com/bnc-national-bank-mortgage-review/

Best benefits

VA loan experts

BNC National Bank is a strong VA lender, climbing steadily through the ranks of the major VA lenders nationwide. By the end of 2021, BNC expects to have granted nearly triple the number of VA loans it made in 2018. This lender is a specialist in VA loans and a great resource if you qualify. To be eligible, you must be one of the following:

  • service member
  • Veteran
  • Employee of the Ministry of Defense
  • NOAA employee
  • National Guard
  • Reservist
  • Cadet or Midshipman of the American Military School
  • Eligible surviving widow
  • Public health officer
  • Served in some organizations during WWII

Excellent customer service

BNC Bank has an excellent reputation for customer service. When we checked out, BNC had 4.7 out of 5 stars on Zillow, with thousands of reviews. Many borrowers write that BNC has made efforts to proactively meet their needs and close on time. BNC also has an A + rating from the Better Business Bureau, which means that when customers have a problem BNC National Bank tends to respond.

Low down payment mortgages

BNC National Bank offers several options to borrowers who want to buy a home with a low down payment, including:

  • VA loan: Zero down
  • USDA loan: Zero down payment (for low to moderate income borrowers who purchase qualifying homes, typically in rural areas)
  • FHA loan: 3.5% drop
  • Home loan loan: 3% discount (for low to moderate income borrowers)
  • Home Loan possible: 3% discount (for low to moderate income borrowers)

BNC also offers other low down payment mortgages for borrowers in certain states.

Digital mortgage

If you are ready to apply, you can go straight to the website and get started at your convenience, from a computer or phone. You can manage your mortgage application through the app and a loan officer will help you. BNC does not yet offer a fully remote shutdown, but plans to do so in 2022.

Construction loans

A construction loan allows you to buy land and finance the construction of a house. Most construction loan borrowers only pay interest while their new home is being built (they always pay their housing expenses elsewhere, after all). When construction is complete, the loan is converted into a traditional mortgage.

BNC Banque Nationale offers construction loans, which can be difficult to find.

What could be improved

Transparency

BNC National Bank does not publish mortgage rates on its website. You may find BNC’s rates on a third-party website, but there is no way to easily find them. Instead, you can price loans on a site and then see if BNC is on the options list.

Rates aren’t the only factor to consider, but they are an important part of the home buying transaction. Even a fraction of a percent can dramatically change the total cost of your loan.

Through our research, we found that BNC is indeed a leader when it comes to rates, but it was difficult to find out. BNC National Bank promises updates to its website in the very near future, and we hope this will provide a rate quotation tool.

HELOCs only available for bank customers

If you are looking for a home equity loan or HELOC, look elsewhere, unless you have a deposit account with BNC.

For many borrowers, a cash refinance loan is a better option when interest rates are very low. But under certain circumstances, a home equity finance product works best. For example, if you:

  • Have a reason to keep your current mortgage
  • You only want to borrow the exact amount you need, not a dollar more
  • Expect to pay off the extra loan in no time

In these cases, a HELOC might be a better option, and you should compare BNC’s options with those of other lenders.

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BTL rates barely affected by the rise in the discount rate https://circlekbl.com/btl-rates-barely-affected-by-the-rise-in-the-discount-rate/ Mon, 10 Jan 2022 00:06:09 +0000 https://circlekbl.com/btl-rates-barely-affected-by-the-rise-in-the-discount-rate/

Despite the base rate hike in December from 0.1% to 0.25%, the average cost of fixed-rate rental mortgages barely budged, according to Property Master’s Buy-to-let Mortgage Tracker.

However, homeowners are warned that this is unlikely to continue if, as expected, the base rate rises again when the Bank first meets this year on February 3, Property Master said.

The Buy-to-Let Mortgage Tracker found that the average rate for a mortgage purchased for a typical loan was as low as 1.69%, which, after fees included, translates to a monthly cost of $ 262. £. It was a two-year, £ 160,000 fixed rate loan, representing 60% of the property’s value. The average Lease Purchase SVR was 4.77%, up slightly (by 0.03%) from cost before the Bank’s recent base rate hike, although a number of lenders have announced increases to their SVR from February 1.

Property Master said this means homeowners who currently stick to a standard variable rate pay around £ 596 per month, up to £ 334 more per month than if they switched to the average fixed rate mortgage the least expensive.

Angus Stewart, Managing Director of Property Master, said: “The purchase mortgage market is a dynamic market and, once again, we have seen how this competition has helped to some extent to protect homeowners. increase in costs that you would expect to see. a hike in the base bank rate, at least for fixed rate homeowners. The question is how much longer, as expectations rise, the bank will move again in the first week of February. This could very well be a small window for homeowners to get a good rate before the market moves more decisively in an environment of rising interest rates.

“What we can say with certainty is that the availability of low buy-to-rent mortgage rates has to a large extent masked the pressures on landlords operating in the private rental sector. The increasing cost of regulation, increasing taxes and removing various tax benefits had little impact while financial costs remained low. If that changes, it will hit homeowners hard, and we may well see at least the little ones deciding that buy-lease is no longer a wise investment for them.

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Gerard Pique debunks ‘fake’ Barcelona salary claims, shares bank statement to clarify https://circlekbl.com/gerard-pique-debunks-fake-barcelona-salary-claims-shares-bank-statement-to-clarify/ Sat, 08 Jan 2022 05:48:00 +0000 https://circlekbl.com/gerard-pique-debunks-fake-barcelona-salary-claims-shares-bank-statement-to-clarify/

Spanish footballer Gerard Pique responded to a report by a journalist regarding his salary on Saturday by sharing a screenshot of his bank statement. A journalist named Lluis Canut has reported on live TV that Pique is Barcelona’s highest paid player, earning € 28million a year.

The 34-year-old center-back fired back by posting a screenshot of his salary transfer, which shows € 2.3million credited to his account. In his tweet, Pique said the sum equals half of his annual income. Pique also criticized the journalist by asserting that “characters” like him ask for money on public television to “defend their friends”.

“Characters like this charge public television to defend their friends. Here’s 50% of my payroll earned on Dec. 30. Respect yourself a little,” Pique wrote on Twitter.

Canut further claimed that Sergio Busquets, Jordi Alba and Samuel Umtiti are next on Pique’s list when it comes to getting the best pay at Barcelona. Canut said Busquets earned € 23million last year, while Alba and Umtiti earned € 20million each.

“The info does not confirm the reality”

Meanwhile, Barcelona also hit back at Canute by dismissing his allegations as “wrong” and saying the information “does not correspond to reality”. The club posted a statement on their official website, where they confirmed that information shared by Canute was not true. The Spanish giants further added that the three players mentioned by Canute in his report suffered salary cuts when their contracts were renewed last summer.

“We consider it inappropriate, unprofessional and that [Canut] acted in bad faith in offering this information as true. We regret that data of this type is provided as it infringes the personal rights of players and deserves, when the information is true, confidentiality, “Barcelona said in its statement.

Barcelona are currently embroiled in a financial problem with the club allowed to spend just € 97million per season on the payroll. Earlier last year, the club revealed that players like Pique, Busquets and Alba had agreed to a cut in their respective salaries in order to allow Barcelona to register new signings with La Liga. According to reports, Barcelona currently have a debt of over € 1 billion. In August 2021, Barcelona let go of their star player Lionel Messi in order to save money on the payroll.

Image: AP

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Gerard Pique publishes bank statement showing Barcelona wages respond to claims cash-strapped club pay him £ 450,000 a week https://circlekbl.com/gerard-pique-publishes-bank-statement-showing-barcelona-wages-respond-to-claims-cash-strapped-club-pay-him-450000-a-week/ Fri, 07 Jan 2022 20:57:00 +0000 https://circlekbl.com/gerard-pique-publishes-bank-statement-showing-barcelona-wages-respond-to-claims-cash-strapped-club-pay-him-450000-a-week/

BARCELONA defender Gerard Pique has hit back at claims he makes £ 450,000 a week by posting a bank statement on social media.

The 34-year-old center-back was one of three players whose salaries were reportedly leaked by Spain’s TV3 program Eleven – with Sergio Busquets and Jordi Alba are also said to have huge salaries with the cash-strapped club.

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Pique has denied reports he earns £ 450,000 a week at BarcelonaCredit: Getty
This is the bank statement that Pique shared on social media

2

This is the bank statement that Pique shared on social media

But Pique ended those claims with a screenshot showing half of his annual salary – £ 2million.

This means that for the year 2021 he was paid £ 4million, which equates to around £ 75,000 per week.

Along with the screenshot of the pay stub, he also added a pointed comment to those who attempted to reveal his salary.

He said to his Twitter Followers: “Characters like this charge public television to defend their friends.

“This is 50 percent of my earned payroll on December 30. Respect yourself a little.”

Pique’s comments come after a statement from Barcelona – whose debts would pile up to more £ 1 BILLION – concerning the declarations of wages of their players.

Most read in the Premier League

Speaking on Friday, the LaLiga squad said: “Regarding the protests by Mr Lluís Canut made yesterday on TV3’s ‘Onze’ show, FC Barcelona would like to clarify the following:

“1. The information on the salaries of certain players of the first team has in no way been provided by the Club and its origin is unknown.

“2. In any event, the amounts mentioned in the information are incorrect, do not correspond to reality and, moreover, in the case of the first three actors concerned, he gives as lump sums which, being variable, do not correspond to reality. will eventually never be reached.

“3. It is not true that the aforementioned players only deferred 100% of their salary. Messrs. Pique, Busquets and Alba gave up part of their salary when they signed the last contract renewal last summer. .

“We consider it inappropriate, unprofessional and that he acted in bad faith when such information is presented as true and truthful and we regret that data of this type is provided which affects the personal rights of players and which deserve, when they are true, the highest confidentiality. “

A number of Barca’s high profile players have been forced to take pay cuts due to the club’s current financial crisis.

And Lionel Messi finally left Camp Nou for free after a new contract could not be struck.

They were still able to sign Man City striker Ferran Torres at the start of the January transfer window, but they can’t save him until the players are sold or the payroll is reduced.

In addition to their problems off the pitch, Barca also have serious difficulties on the pitch.

FREE BETS: GET OVER £ 2,000 IN NEW CUSTOMER OFFERS

The club opted to change managers earlier this season when Ronald Koeman was replaced by legendary midfielder Xavi.

But since then, they have steadily faltered, especially in the Champions League where they were eliminated in the group stage for the first time in 20 years.

In the La Liga standings, they are in fifth place, 15 points behind Real Madrid.

?? Read our Transfer News Live blog for the latest rumors, gossip and closed deals

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Gold hits one-week low on U.S. central bank rate hike signals, down 3 Dh per gram in UAE https://circlekbl.com/gold-hits-one-week-low-on-u-s-central-bank-rate-hike-signals-down-3-dh-per-gram-in-uae/ Thu, 06 Jan 2022 12:05:44 +0000 https://circlekbl.com/gold-hits-one-week-low-on-u-s-central-bank-rate-hike-signals-down-3-dh-per-gram-in-uae/

Gold jewelry on display in a shop window in the Gold Souk in the Deira district of Dubai, United Arab Emirates.
Image Credit: Bloomberg

Gold prices fell to their lowest in a week on Thursday as the minutes of the US Federal Reserve’s December meeting pointed to faster increases in interest rates, pushing up the US dollar and yields government bonds.

Spot gold fell 0.5% to $ 1,801 an ounce, after hitting its lowest level since Dec. 29 at $ 1,792.30. US gold futures fell 1.5% to $ 1,797.70.

In the United Arab Emirates, gold prices fell 3 Dh per gram on Thursday. The price of 24 karat gold was at 218.75 Dh per gram, down from 221.25 Dh the day before, while the 22 karat was at 205.0 Dh, 21 karats at 196.0 Dh and 18 carats at 168.0 Dh.

“Going forward, Fed sentiment will lead the way for gold and most likely maintain the exposed decline. If risk aversion intensifies, it will likely strengthen the dollar’s strength even if the rally in yields weakens “said Vijay Valecha, Chief Investment Officer. agent of Dubai-based investment brokerage firm Century Financial.

“In both scenarios, gold is expected to remain the loser and seems vulnerable to a pullback to the $ 1,760 to $ 1,770 region. In the UAE, the price of 24 karat gold is expected to trade between MAD 213 and 220 Dh in the coming days. “

Stock - Gold

In the United Arab Emirates, the price of 24 karat gold is expected to trade between Dh213 and Dh220 in the coming days.

Investors saw the U.S. Federal Reserve meeting minutes as a sign that the major lender may raise interest rates faster to calm inflation, which could lead to other central banks from other economies. to follow suit, noted the Dubai-based forex traders.

According to the minutes of the Fed’s December 14-15 policy meeting, policymakers believe the largest economy’s labor market is almost healthy enough and ultra-low interest rates are no longer needed.

Gold fell last year in its biggest annual decline since 2015, as central banks began to scale back pandemic-era stimulus to fight inflation. Higher rates can decrease demand for the metal because it does not pay interest.

The market interpreted that “there would most likely be a rise in March followed by quantitative tightening, which is very bad for stocks and gold,” said Jay Hatfield, managing director of Infrastructure Capital Management in New York. York.

Aggressive position of the United States

The Fed’s “very hawkish” minutes pushed the dollar and yields up significantly, which didn’t help gold, independent analyst Ross Norman said.

Gold

Spot gold fell 0.5% to $ 1,801 an ounce, after hitting its lowest level since Dec. 29 at $ 1,792.30.

The US dollar resumed its rally to a recent 14-month high, as benchmark 10-year US government bond yields hit their highest level since April 2021.

The central bank minutes released on Wednesday showed officials discussed cutting overall US central bank holdings as well as raising interest rates earlier than expected to fight inflation, with an 80% probability of a plausible increase of a quarter of a percentage point in March. .

Some investors see gold as a hedge against higher inflation, but the metal is very sensitive to rising US interest rates, which increases the opportunity cost of holding unproductive bullion.

“Where the precious metal ends, the week is likely to be heavily influenced by key US employment data on Friday,” FXTM analyst Lukman Otunuga said in a note.

“A strong report could cripple gold bugs, paving a way down to $ 1,786 and $ 1,770. If $ 1,800 proves to be reliable support, prices could rebound to $ 1,810 and $ 1. $ 831. ” In other metals, spot silver fell 1.7 percent to $ 22.39 an ounce after falling to $ 22.12, its lowest level since Dec. 16.

Platinum fell 0.9% to $ 974.13 and palladium rose 0.9% to $ 1,880.94.

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JMT adds criteria to the knowledge bank https://circlekbl.com/jmt-adds-criteria-to-the-knowledge-bank/ Thu, 06 Jan 2022 04:04:41 +0000 https://circlekbl.com/jmt-adds-criteria-to-the-knowledge-bank/

Commercial real estate finance lender JMT Finance has added its criteria to the Knowledge Bank platform.

Knowledge Bank now has full criteria for over 250 lenders and has over 130,000 individual criteria.

Chris Jones, Managing Director of JMT, said: “We are delighted to have joined Knowledge Bank and have been amazed at the response we have already received to our unique loan proposal.

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Most Popular JBSP Mortgages

“Over the past year we have worked hard to put in place internal systems and structures to ensure we continue to meet the high level of service that our existing introducers and borrowers know us for, while increasing the amount. of our loan. delivered.

“With that done, we now believe Knowledge Bank is the perfect partner to help us market ourselves to a wider audience; providing solutions for more bespoke loan needs.

Jordan Garside, Knowledge Bank Lender Relations Manager, added, “We are delighted to have JMT on board Knowledge Bank.

“Our goal is to provide brokers with the most comprehensive selection of business criteria from the broadest range of lenders.

“We believe that with their transparency, competitive loan-to-value (LTV) ratio and quick, personalized decisions, JMT will add a unique perspective to this type of loan that will match the equally unique needs of our brokers. “

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Citizens Bank Mortgage Review 2022 https://circlekbl.com/citizens-bank-mortgage-review-2022/ Tue, 04 Jan 2022 08:00:00 +0000 https://circlekbl.com/citizens-bank-mortgage-review-2022/

We want to help you make better informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information see How we make money.

Citizens Bank Mortgage Review 2022

Citizens Bank Mortgage Review 2022

Editor’s Note: (3.9 / 5)

Citizens Bank Mortgage Review 2022

Editor’s Note: (3.9 / 5)

  • Minimum credit score:

    620

  • Minimum deposit:

    3% conventional; 3.5% FHA; 0% VA; 20% giant

  • Can apply online:

    Yes

  • Works in:

    The 50 states

NextAdvisor’s Take

Advantages

  • Available in all 50 states
  • 0.125% automatic payment rate reduction (with an existing account at Citizens Bank)
  • Online mortgage application process
  • Offers FHA and VA loans

The inconvenients

  • Does not offer USDA loans
  • Physical branches only available in 11 states
  • Finding the price list on the site is difficult
  • Credit check for a personalized quote
  • Rates shown have built-in discounts including a 25% deposit

The bottom line

Citizens Bank offers an attractive 0.125% discount on automatic payment, but with caveats: you must open a checking account (if you don’t already have one) with Citizens Bank, and you must use this. account to pay the mortgage.

The online application process seems straightforward enough at first glance, but the lenders’ fees were only accessible by phone call. One major drawback that stands out from other lenders is that a credit check is required to get a personalized quote.

Citizens Bank might be a good option for qualified buyers looking for a conventional mortgage with an existing relationship with Citizens Bank. Borrowers should, however, exercise caution. Depending on your credit profile, the rates you see on the Citizens website are unlikely to be the rates you get. The fine print says you’ll need a 740+ credit score and a 25% down payment on hand. It may be best to research other lenders who will prequalify you with a quote and a credit check before you apply with Citizens Bank.

EDITORIAL INDEPENDENCE

As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information on our rating methodology, Click here.

Comprehensive Citizens Bank Review

Citizens Bank offers home equity loans and home equity lending products among its private and commercial banking products. It is part of the Citizens Financial Group, which is the 15th national bank.

With services available online and at approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions, borrowers have a variety of ways to learn and apply for a loan. Citizens Bank offers rate reductions when you set up automatic payments, as well as a Home Rewards program that homeowners in some states can use to earn cash back after buying or selling a home through the Home Rewards program. the Citizens Bank. The application process is digital from start to finish, and customer service representatives and loan officers are accessible by phone.

A few downsides of Citizens Bank are its website and the transparency of pricing available. The website does not look the best, with some menu options not displaying correctly in some browsers. Besides a handful of rates listed, we had a hard time finding other mortgage rates on the website. The advertised prices are based on very solvent profiles. To get a personalized quote, you will need to obtain hard credit during the application process, which temporarily hurts your credit score but is necessary to get a mortgage.

Here’s what to know about Citizens Bank mortgages before you apply.

Citizens Bank Review: Types and Products of Mortgages

Citizens Bank offers conventional loans as well as government guaranteed mortgage products. However, some products are not available in all regions.

Citizens Bank: transparency of mortgage loans

Citizens Bank lists a handful of rate products for 30-year and 15-year fixed rate loans, as well as its 7-year / 6-month fully amortizing ARM. However, potential borrowers should sift through the fine print to learn that the advertised rates listed have a built-in automatic payment discount of 0.125%. Rates are also based on a 25% down payment and a 740 credit score.

To get a personalized quote based on your own credit profile, potential borrowers should go through the application process, including the hard credit call. It is difficult to find information on the initial loan costs on the citizens’ website. After researching the website, including reading the fine print, we had to call a loan officer at Citizens Bank to get information on the closing costs and other upfront loan costs involved.

Also in the fine print, we found that customers who live in states with Citizens Bank branches need to have their mortgage payment deducted from a Citizens Bank account to take advantage of the automatic payment discount. For those who live outside of the Citizens Bank physical footprint area, it is possible to get an automatic payment discount regardless of the financial institution used for mortgage payments.

Citizens Bank: mortgage rates and fees

Citizens Bank does not charge prepayment penalties, application or origination fees. Instead, the bank charges what it calls a processing and underwriting fee, which we learned when we spoke to a loan officer over the phone and asked. These fees are based on the loan amount, the type of property and the characteristics of the borrower. According to a Citizens Bank loan officer, it’s common to pay between $ 800 and $ 900 in total for processing and underwriting fees, although some loans have lower or higher fees.

Depending on your region, it is possible to benefit from additional discounts on rates and fees. An automatic payment discount of 0.0125% is available to anyone who sets up regular mortgage payments to be deducted from a checking account.

Citizens Bank has a program called Your Home Rewards which connects borrowers with a Citizens Network real estate agent and loan officer. If you use this program to buy or sell a home, you may be eligible for cash back of $ 350 to $ 6,500. The company claims to earn double the reward if you use the bank to finance a home after a sale through the program.

Refinancing With Citizens Bank

Refinancing a mortgage with Citizens Bank is very similar to obtaining an initial mortgage. It is possible to get cash refinance or refinance for a shorter term loan. You can find a checklist on the website to help you navigate the process and apply online. Refinancing can take anywhere from two weeks to 45 days (or more), depending on the situation.

The fees for refinancing with Citizens Bank are similar to the mortgage fees, with some differences depending on whether you are refinancing a second home or an investment property, and other factors. As with the buying process, you should call a loan officer or go through the application process to find out all of the fees involved.

Citizens Bank vs. other mortgage lenders

Citizen’s Bank Ally Mortgage Sebonic Financial
Minimum credit score 620 620 620 for conventional, 550 for FHA
Minimum deposit 3% for conventional loans *, 3.5% for FHA loans, 0% for VA loans, up to 20% for jumbo 3% for the conventional, up to 20% for the jumbo 5% for conventional, 3.5% for FHA, 0% for VA and USDA
Where does the lender operate? All 50 states and Washington, DC 37 states and Washington, DC All 50 states and Washington, DC
Main types of loans Conventional, FHA, VA, construction, jumbo, refinancing Conventional, jumbo, ARM, refinancing Conventional, FHA, VA, USDA, jumbo, refinancing
* In many cases, down payments less than 20% will come with private mortgage insurance (PMI), which covers the cost of the current mortgage in the event the borrower defaults on his loan.

How To Shop For The Best Mortgage Rate

Mortgage rates change regularly, and every lender is different when they set mortgage rates. Your rate will be a combination of market rates and your personal credit criteria, as well as the amount and type of loan you get. Consider getting a mortgage pre-approved first. With pre-approval, you have a better idea of ​​your rates and terms, as well as how much you can borrow.

However, you don’t have to rely on just one lender. Shop around for different rates and terms so you can potentially save thousands of dollars in interest and fees over the life of the loan. Gather quotes from multiple mortgage lenders and compare rates and closing costs. An online mortgage calculator can help you make a more informed decision.

Here is an example using a house with a price of $ 250,000 with a 10% down payment and a term of 30 years.

INTEREST RATE MONTHLY INTEREST AND PAYMENT OF THE PRINCIPAL INTEREST SAVED OVER THE TERM OF THE LOAN
3.25% $ 979
3.04% $ 953 $ 4,680

With an interest rate of 3.25%, the monthly principal and interest payment is $ 979. But with an interest rate of 3.04%, you save $ 26 per month on interest charges. This monthly interest difference appears to be a small amount, but $ 26 adds up over time, which is $ 9,360 in savings over 30 years.

EDITORIAL INDEPENDENCE

As with all of our mortgage lender reviews, our analysis is not influenced by any partnerships or advertising relationships. For more information on our rating methodology, Click here.

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Forint leads currency gains after latest central bank rate hike https://circlekbl.com/forint-leads-currency-gains-after-latest-central-bank-rate-hike/ Thu, 30 Dec 2021 09:24:00 +0000 https://circlekbl.com/forint-leads-currency-gains-after-latest-central-bank-rate-hike/

BUDAPEST, December 30 (Reuters) – The Hungarian forint strengthened 0.5% against the euro early Thursday, marking gains among central European currencies, after the National Bank of Hungary (NBH) raised its one-week deposit rate by an additional 20 basis points to 4%.

At 08:45 GMT, the forint was trading at 368.6 per euro, reducing some of its losses for the year to 1.6%, the second worst in the region behind the Romanian leu. Most of the other central European currencies were slightly positive.

Hungary’s one-week deposit rate is now 220 basis points above its level in mid-November, when the BNH launched its weekly hikes to support the forint, which hit a record low at 372 against the euro last month.

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Traders said weak market liquidity at the end of the year amplified movements in the forint, however, adding that the bank’s successive hikes and expectations of a rate tightening next year are likely starting to matter. an impact.

NBH Governor Gyorgy Matolcsy said on Monday that the base rate, currently at 2.4% (HUINT = ECI), would reach the level of the one-week deposit rate in the first half of 2022.

He also said a government decision to freeze retail mortgage interest rates for six months from January confirmed the bank’s position that it must act “in the most decisive manner” to contain inflation, which hit a 14-year high last month. Read more

“Since borrowers are now immune to rate hikes, the BNH may also raise the base rate more aggressively,” said a Budapest-based currency trader. “I think the BNH has probably realized that foreign investors cannot stand this complex system of interest rates.”

Another trader also said Thursday’s rate hike supported the forint, although he added that major gains were unlikely at this time.

The Czech koruna, the region’s best performer this year with a 5% gain for the year due to aggressive rate tightening, strengthened 0.2% at the start of the session.

Czech ministers on Wednesday said the new center-right government would freeze civil servants’ salaries and cut previously announced salary increases for others, as it seeks to narrow the budget gap amid inflation. Read more

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Reporting by Gergely Szakacs; Editing by Shounak Dasgupta

Our Standards: Thomson Reuters Trust Principles.

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Bank mortgage rates hit their highest level in more than 7 years in November. https://circlekbl.com/bank-mortgage-rates-hit-their-highest-level-in-more-than-7-years-in-november-2/ Thu, 30 Dec 2021 08:00:00 +0000 https://circlekbl.com/bank-mortgage-rates-hit-their-highest-level-in-more-than-7-years-in-november-2/

A man walks past advertisements in Seoul promoting Standard Chartered Korea’s mortgage products. (Yonhap)

South Korean bank mortgage rates hit their highest level for more than 7 years in November amid rising borrowing costs, central bank data showed on Thursday,

Bank mortgage rates averaged 3.51% in November, up 0.25 percentage points from the previous month, according to data from the Bank of Korea (BOK)

This is the highest since July 2014, when the corresponding rate was 3.54%.

The rate on unsecured loans from banks also rose 0.54 percentage points to 5.16% last month, the highest level since September 2014, when it was 5.29%.

The average interest rate on loans to households thus rose to 3.61% in November against 3.46% the previous month, the highest since 3.61% in December 2018.

Lending rates have increased recently, in line with the government’s desire to curb the rapid growth in household debt and central bank rate hikes aimed at controlling inflation.

At the end of November, the BOK raised its key rate by 0.25 percentage point to 1%, three months after announcing a rate hike of a quarter of a percentage point in August.

The average bank deposit rate, meanwhile, stood at 1.57% in November, up 0.28 percentage points from the previous month, the BOK said.

The spread between loans and deposits by South Korean lenders, an indicator of bank lending profitability, stood at 1.66 percentage points last month, below the 1.78 percentage point of October. (Yonhap)

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Bank mortgage rates hit their highest in more than 7 years in November https://circlekbl.com/bank-mortgage-rates-hit-their-highest-in-more-than-7-years-in-november/ Thu, 30 Dec 2021 04:46:00 +0000 https://circlekbl.com/bank-mortgage-rates-hit-their-highest-in-more-than-7-years-in-november/






















Bank mortgage rates hit their highest in more than 7 years in November – Korea Times








































Bank mortgage rates hit their highest in more than 7 years in November

Bank of England
Bank of England


South Korean bank mortgage rates hit their highest level for more than 7 years in November amid rising borrowing costs, central bank data showed on Thursday,

Bank mortgage rates averaged 3.51 percent in November, up 0.25 percentage points from the previous month, according to data from the Bank of Korea (BOK).

This is the highest since July 2014, when the corresponding rate was 3.54%.

The rate on unsecured loans from banks also rose 0.54 percentage points to 5.16% last month, the highest level since September 2014, when it was 5.29%.

The average interest rate on loans to households thus rose to 3.61% in November against 3.46% the previous month, the highest since 3.61% in December 2018.

Lending rates have increased recently, in line with the government’s desire to curb growing household debt and central bank rate hikes aimed at controlling inflation.

At the end of November, the BOK raised its key rate by 0.25 percentage point to 1%, three months after announcing a rate hike of a quarter of a percentage point in August.

The average bank deposit rate, meanwhile, stood at 1.57% in November, up 0.28 percentage points from the previous month, the BOK said.

The spread between loans and deposits by South Korean lenders, an indicator of bank lending profitability, stood at 1.66 percentage points last month, below the 1.78 percentage point of October. (Yonhap)


















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