Comparing Mortgages in Ireland to Mortgages in the United States

 

The mortgage market is a vital component of the housing sector, enabling individuals to purchase homes by providing them with long-term financing options. While mortgages serve a similar purpose in different countries, their structures and features can vary significantly.

First, we take a look at the different mortgage types. In the United States there are fixed-rate mortgages which are predominantly offered and provide a fixed interest rate for the loan’s duration. There are Adjustable-Rate Mortgages (ARMs) and the interest rates can fluctuate based on market conditions and typically offer an initial fixed rate for a specified period.There are FHA Loans which are backed by the Federal Housing Administration and provide accessible financing options for low-to-moderate-income borrowers. Lastly, there are VA Loans which are guaranteed by the Department of Veterans Affairs and are exclusively available to eligible military veterans and their families.

In Ireland there are Variable Rate Mortgages which are commonly offered with interest rates subject to change in response to market conditions. The Tracker Mortgages are tied to the European Central Bank (ECB) rate and offer borrowers …

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El Salvador Becomes First Country to make Bitcoin Legal Currency

El Salvador has become the first country to adopt bitcoin as legal tender. Officials in the Salvadoran congress voted in a “supermajority” of 62 out of 84 votes. This fulfills president Nayib Bukele’s promise to make bitcoin legal tender alongside the US dollar. 

 

“The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power, unlimited in any transaction, and to any title that public or private natural or legal persons require carrying out,” the law reads. Furthermore, the law enables prices to be shown in bitcoin. Taxes can now be paid in bitcoin, and exchanges in bitcoin are exempt from capital gains tax. The government will also be partnering with digital wallet firm Strike to provide an easy and simple to use financial framework based around the cryptocurrency. Jack Mallers, founder of strike, claims that adopting bitcoin could help countries like El Salvador avoid some of the pitfalls of traditional fiat currency, such as excessive hyperinflation, that developing economies are sometimes prone to. 

 

This decision is unprecedented, as no country has yet …

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ECB release half a Trillion just in case…

The ECB released a further 500 billion, Bank of England 10 billion and the Fed 20 billion This was done as a follow on the the USA’s liquid injection rather than rate cut, the idea is to lower interbank rates, increase liquidity and at the same time not promote inflation.

Thankfully and historically we are seeing a trend here. The Fed, ECB, Canadian Central Bank, Bank of England and the Swiss Central Bank all acted in unison, traditionally this was not the case and its great to see that internationally we can start acting in a global way in a global world. Prior to this we acted in a national way in a global world, central banks didn’t refer to eachother before making a move.

All the banks with the qualifying collateral could buy from the ECB at 4.21% which is what the old Euribor was, this will mean that the people selling from euribor rates will only be able to sell to institutions which don’t qualify for this money, it may also mean that the people who are most …

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