According to AFG this is the highest proportion of
fixed rate loans it has seen in the last ten years.
31 per cent, while longer term
fixed rate loans are being cut 0.
The average fee charged to someone taking out a discount mortgage has risen by 15 per cent, to pounds 407, while fees for
fixed rate loans are 22 per cent higher, at an average of pounds 494, according to financial website MoneyExpert.
Homebridge offers prospective homebuyers access to a wide range of mortgage products, including long-term
fixed rate loans and true mortgage commitments, not simply a non-binding pre-approval.
One program by Irvine-based American Savings Bank offers no points and no fees for
fixed rate loans.
Securitizing and selling
fixed rate loans where spreads do not meet corporate hurdle rates,
Resurgence of
Fixed Rate Loans as Solution for Homeowners Seeking to Escape Interest-Only or Adjustable Rate Mortgages
Westpac Banking (NYSE :WBK) has announced that it has cut rates on its two-year
fixed rate loans.
But the proportion of
fixed rate loans taken out was still below the peak of 76 per cent in November and December last year.
Second, the sale of approximately $30 million of
fixed rate loans with the longest maturities and lowest interest rates in the mortgage portfolio and approximately $25 million of one-year adjustable mortgages, more than 70% of which are convertible into
fixed rate loans, provides the opportunity to shorten the average life of the Bank's assets and increase the asset sensitivity of the balance sheet as market interest rates move up from their cyclical lows.
The offering, Daiwa Mortgage Acceptance Corporation Asset-Backed Certificates, Series 1992-I, has two senior tranches: a $104,760,00 class backed by
fixed rate loans and a $39,894,000 class backed by floating rate loans.
Over 98% of the closed-end portfolio is
fixed rate loans, with approximately 12% included in RMBS transactions.
