Marian Finucane Show: Interest Rate Guide

Last Saturday Charlie Weston (award winning Personal Finance editor with the Irish Independent) Karl Deeter (of Irish Mortgage Brokers) were on the Marian Finucane show on RTE 1 (audio here), during the show Karl mentioned a file with mortgage rate information on it that you could download. The file was a mid-sized pdf but they don’t embed easily in the existing site for the show so we are posting it on our site and RTE Will link to it instead.

The file in question is here or you can click on the image to the left, if you have any questions feel free to call us at the number which is at the top of every page on this site.

Thanks for listening and for your enquiries, we were delighted to have a representative from our firm on such a big show, we are huge fans and we hope our opinions …

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Talking about Trains

I had a chat with Ronnie O’Toole who is currently an economist with NIB, and we talked about buses versus trains as a solution to transportation, I’ll cover more of this conversation in a later post but there are many interesting points and reasons for getting rid of trains and replacing the system with buses. This video covers the American version of the same debate.

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Taxing Banks & Taxing Risk

In the first clip, James Galbraith (son of the famous JK), economics professor at University of Texas, discusses whether a new tax on big banks is justified. Ken Bentsen, of the Securities Industry & Financial Markets Association, and Mark Calabria, of the Cato Institute, share their insight as well.

In the second clip Mark Walsh, of ‘Left Jab,’ and Dan Mitchell, of the Cato Institute, discuss taxing banks based on their risk to the system.

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Mortgage Market Trend Outlook 2010

We have put together a report outlining the trends we expect to see in the Irish mortgage market in 2010. Many of the opinions have been substantiated from within industry and are evident in market information, however, we cannot say with certainty that anything mentioned is guaranteed to pass, only that we believe these trends are the ‘most likely’ and stating the reasoning behind them. You can obtain the report by clicking on the image below.

If you have any questions please feel free to call or email our firm regarding same.

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USA: Failed mortgage modification programme

Kudlow talks to Christian Weller, Center for American Progress and Dan Mitchell, Cato Institute on the topic of debt relief and mortgages in the USA, the argument for straight out write-downs on mortgages is compelling, and yet so too is the argument for allowing the market to work. Sometimes believing in the free market is seen as a ‘dirty thing’, but the side effect of trying to manage an economy from every aspect is also a bad thing (look no further than the former Eastern Bloc). Somewhere in the middle is a fair and sustainable path, but ideology bias is usually in the way before the conversation passes go, for that reason you will favour one speaker over the other quite often from the outset. However, ideology doesn’t actually get results, it is merely the platform from which a concept is launched and the better path would be to have an operational model to prove the point – although that isn’t always practical.

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Mortgage questions: broker fees

Q: I am a first time buyer and am hoping to purchase a property this year with my partner who is also a first time buyer. I was just enquiring what are your fees for your service and what does the process involve?

A: Generally we don’t charge fees. We are paid commission by the Mortgage Lender and Insurance Company you choose to proceed with. We will advise you what each Lender and Insurer has to offer and try to secure the deal that suits your needs.

When you have chosen a suitable property we will take you through the process from putting down your booking deposit through to getting the keys to your new home.

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Where are interest rates headed?

While we often see opinions about interest rates given by various commentators, I think the most telling indication is often that of the market, the point at which rates are settling at in prices is available at any time by looking at the Euribor Yield Curve, below is the chart for today.

The idea that rates will probably stay c. 1% until well into 2010 is only partially priced in, you can see the yield curve crossing the 1% mark at 6 months (which would be May 2010) – this however, is the Euribor and does have margin factored in, currently the margin over ECB is c. 25 basis points so the 1% base would cross when the graph above is at c. 1.25%. and that is the part that brings us to the latter half of 2010. The yield curve is live and dynamic so it could change at any time, either flattening or inverting. The reasoning behind where interest rates are going is a science in itself, and one that …

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