Mortgage

India Mortgage Guarantee Corporation (IMGC), has announced a partnership with GIC Housing Finance Ltd (GICHFL) to offer innovative mortgage guarantee-backed home loan products. This strategic collaboration aims to introduce innovative mortgage guarantee-backed home loan products to prospective salaried and self-employed home loan customers, specifically designed to enhance accessibility and affordability in the growing housing finance sector, a joint statement said on Monday. By combining IMGC's expertise in mortgage guarantees with GICHFL's extensive network, the partnership will enable it to offer more flexible and secure home loan products to a wider range of borrowers, it said. Mortgage guarantee as a product plays a crucial role in helping lender partners foray into responsible lending with minimal risk and helping home buyers fulfill their dreams of owning a home through higher eligibility and lower equated monthly installments, it said. Speaking on the partnership, IMCG Chie

Donald Trump's election win is clouding the outlook for mortgage rates even before he gets back to the White House. The president-elect campaigned on a promise to make home ownership more affordable by lowering mortgage rates through policies aimed at knocking out inflation. But his proposed economic agenda could potentially set the stage for mortgage rates to move higher, some economists and analysts say. Mortgage rates are influenced by several factors, including moves in the yield for US 10-year Treasury bonds, which lenders use as a guide to price home loans. Treasury yields rose in recent weeks even after the Federal Reserve cut its benchmark interest rate, which influences rates on all types of loans including mortgages. Investors appeared to question how far the Fed should cut rates given the strength of the economy. Then yields surged further immediately after Trump's victory, sending the average rate on a 30-year mortgage up to 6.79 per cent, according to mortgage buyer ...

Britain's growth prospects and public finances meanwhile remain frail

Refinancing now accounts for more than 57 per cent of all mortgage applications, the data show, above the historic median of 48 per cent

Before the new role, Rampal was the Group Head - Business Banking Working Capital, Rural Banking Group, and Sustainability Livelihood Initiative at HDFC Bank

Cost of finance to housing firms is a concern, considering the inherent risks in the industry, said Adhikari

Pointing to economic spinoffs, such as creating jobs, Dinesh Khara, chairman, says it's time to revisit tax benefits for loans

The company aims to provide guarantees worth Rs 7K cr in FY24

There is confusion among buyers regarding the distinction between land and a house due to issues with land records and opaqueness

The five-year loan prime rate (LPR) was lowered by 25 basis points to 3.95 per cent from 4.20 per cent previously, while the one-year LPR was left unchanged at 3.45 per cent

Dinesh Khara and Deepak Parekh spell out measures to boost country's mortgage financing at the Business Standard-IMGC India Mortgage Leadership Conclave

It's an almost farcical conclusion to 12 months of trading that saw rates on the benchmark - a global anchor for markets and US mortgage rates - tumble to as low as 3.25 per cent

Mortgage firm SRG Housing Finance plans to achieve Rs 750 crore asset under management (AUM) during the next financial year, a top company official has said. "We have achieved AUM of Rs 500 crore in the last quarter. We hope to achieve the next milestone of Rs 750 crore in 2024-25," SRG Housing Finance Managing Director Vinod Kumar Jain told PTI. The company got listed on bourses in August this year. Currently, Rajasthan and Gujarat contribute about 60 per cent of its business. The mortgage firm plans to expand its footprint in southern states. The company will also open its branches in Andhra Pradesh, Telangana and Karnataka in the next few months, Jain said. Also, from April next year, the treasury and pan India business team will work from Mumbai, he added. During the second quarter of the current financial year, the mortgage firm recorded 20 per cent growth to Rs 5.26 crore compared to Rs 4.39 crore a year ago. Its total income stood at Rs 31.20 crore, with a growth of 37.9

The average 15-year rate also jumped to 6.46 per cent. It was up from 6.34 per cent the week prior and was also the highest level since April 2002

Constellation had also agreed to buy Black Knight's Empower loan origination system business in March, a deal that analysts said may not be enough to quell concerns over ICE's $11.7 billion proposal

Company runs programme that offers loans to women who don't have formal income documentation

Lower cost of funds will help HDFC Bank after merger

"Urbanisation in India is an irreversible trend. Currently 32 per cent of the population reside in cities and this is expected to be 40 per cent by 2030," Parekh said

CMI findings show a marked increase in demand for credit cards and personal loans, indicating growing adoption of consumption-led credit products that provide convenience and liquidity

Not doing so can hurt buyer even years later, when he tries to sell the unit