What are the best mortgage rates? Mortgage Interest Rates explained.

What are the best Irish mortgage rates? What are interest rates and where do they come from? These are all good questions and in today’s post I hope to answer some of them.

Often I find that people call me and ask ‘what’s the best rate’ and then there is silence on the other end of the phone as they await an answer. The truth is that at any given time there is a ‘best mortgage rate’ out there, but normally there are restrictions surrounding it which inhibit the ability for most borrowers to avail of them.

We have come out of eight rate hikes which began at the end of 2005, and in an upward rate market people often feel that their old loan has become expensive, in fact it’s not necessarily the case that the ‘old loan’ is exceptionally dear, its that the rate market has gone up and therefore the cost of all loans has gone up, when we talk about the greater ‘debt burden’ that’s what we are referring to, because car loans, higher purchase, leases, …

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US fed will inject $200 billion in cash in an effort to end the credit crunch

The United States Federal Reserve have announced that they will give a $200 billion dollar cash injection to ease the tensions in the credit market that are threatening to stall the wider US economy. They will buy mortgage backed security in return for cash and that will hopefully free up the credit markets and lending. Does that mean the Fed is taking on the risk the banks created? In a nutshell, yes, it does mean that, they are going to accept mortgage backed bonds from banks that were finding it hard to raise cash through the normal channels. So these institutions are not good enough for the market but they’ll do for the Fed.

The banks and financial institutions have taken a beating due to the credit crunch but it seems now that the fed is willing to stand up and be hit on behalf of the banks, so its like a guy who steps in to break up a fight and he turns out to be …

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Mortgage Fraud. A story of collusion and a closer look at Thomas Byrne and Michael Lynn

Michael Lynn is making headlines, for ripping off the banks, to the tune of fifty million euro! yes, thats €50,000,000!!! What an astronomical rip-off! Not even the Northern Bank robbers got away with that much, and more to the point Michael Lynn will either not face jail, or go to an open prison or some other shamble that is meant to represent ‘imprisonment’. The fact is that crime does actually pay, especially white collar crime.

I have to say ‘hats off’ to Mr. Lynn though… I mean, how the hell did he pull that off? My first suspicion is that part of the way he did it was bank greed, I know what most people have to go through in order to secure finance, there is no way of lying your way through it, however, some people are ‘special’ clients, and I don’t mean they catch a short bus. They get treated differently, endless lines of credit, think Nick Leeson, think Barings Bank (although he was a trader not a borrower).

Now we hear that Michael Lynn is a fugitive. …

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