BOSTON - Five banks have created a $125 million fund to refinance mortgage loans for New England borrowers who are keeping up with monthly payments but face interest rate
increases that could eventually put them at risk of losing their homes.
Looking ahead, FAs may continue to face interest rate
challenges during the 2nd half of 2007 as well as competition from VAs with GLBs.
Investors in fixed-income funds typically face interest rate
risk because the value of outstanding bonds usually decreases when interest rates rise," said Art Zimmer, co-manager of the Senior Floating Rate Fund.
The shares are to have a face interest rate
of 10% with semi annual interest payments to be made on June 30 and Dec.
Farmers like Brivia face interest rates
as high as 120 percent if they resort to borrowing, FAO said, noting that a recovery plan should be speed up address the problem.
As far as debt, juniors often face interest rates
that are two to three times higher than what the senior mining companies pay.
Revenue has already warned if people choose to defer paying the tax they will face interest rates
of 4% - for example if your only income is social welfare and you can't afford to pay.
People turning to payday loan firms can face interest rates
of up to 4000 per cent and be hit with hidden charges such as high fees for reminder letters.
Greece's Deputy Finance Minister Philippos Sachinidis told Mega TV that Athens wanted the euro zone to "send the proper message to markets so that the next time Greece goes out to borrow in international markets it will face interest rates
that price the Hellenic Republic in a better way.
The Council of Mortgage Lenders, the trade association for mortgage firms, was reported as saying homeowners could face interest rates
of more than 10pc - an extra pounds 227.
If Britain joins, we face interest rates
which bear no relation to the needs of our economy; centralised regulation which will inevitably add to the cost burden on business and make Britain less competitive; centralised taxation which can only mean higher taxes; and complete loss of control over our own fate.