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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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CBA, NAB pass on full rate cuts (Adelaide Now)
CBA and NAB are the first major banks to pass on all of the RBA's 1 per cent rate cut to its customers, slashing variable home loan rates to 6.74 per cent.
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Banks to cut lending rates by up to 50 bps in Dec (Business Standard India)
Auto and home loan seekers can expect further cut in the lending rates with the public sector banks gearing up for the second round of cut in the benchmark lending rates by up to 50 basis points during December.
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Lower mortgage rates boost affordability and may help home sales (Market Watch)
The Federal Reserve’s plan to spend $600 billion buying mortgages is driving down lending rates and boosting home affordability, which combined with decreasing inventories may signal a 2009 recovery for the battered home-building sector.
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Feds dropped home-loan crackdown, records show (San Francisco Chronicle)
The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold...
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China cuts key lending rate (Business Standard India)
China’s central bank slashed its key lending rate by the most in 11 years, giving support to a 4 trillion yuan ($586 billion) spending plan aimed at sustaining growth in the world’s fourth-largest economy.
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CBA, NAB pass on full rate cut (Sydney Morning Herald)
Commonwealth Bank of Australia and National Australia Bank have rushed to pass on the full one percentage point rate cut announced by the Reserve Bank.
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US diluted loan rules before financial meltdown (The Arizona Republic)
AP IMPACT: US diluted loan rules before crash.
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New row as Northern Rock raise home loan rates (Daily Record)
NORTHERN Rock fuelled the row over mortgage lending yesterday by jacking up home loan rates.
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RBA cuts cash rate by 100 bps to 4.25% (Sydney Morning Herald)
The Reserve Bank of Australia (RBA) has cut the cash rate by 100 basis points to its lowest level in six and a half years.
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