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Three Mortgage Strategies to save money
1) Mix up your mortgage product term length:
Fixed rate loans are cheaper the shorter the duration, while adjustable rate loans are typically the same rate – regardless of the term.
If you plan to take a 20 year term comprising of both fixed and variable rates (short-term variable rate loans have no pre-payment penalty), take a 15 […]
“Mr. Fischer: Let the people refinance”
An economic slowdown in Israel combined with a steadily appreciating Shekel have prompted the Bank of Israel to lower interest rates four times in the last twelve months in an attempt to stimulate the economy and weaken the Shekel.
However, the Bank of Israel has clearly stated that the moves are not intended to boost […]
Monitors and Mortgages
More often than not, “simple” choices aren’t as simple as they seem.
Having opened up our second location on King George Street, one of the busiest streets in Jerusalem, we felt it would be a good idea to install flat screen monitors in our window displaying current mortgage rates and terms.
We assumed that the purchase […]
Fischer signals tougher measures to limit mortgages
Measures taken so far to limit mortgages were a first step and relatively moderate, says the Bank of Israel in excepts published today on macroprudential policy that will appear in its Annual Report, which will be published on March 30.
The Bank of Israel says, “During 2010, the Supervisor of Banks announced a series of steps […]
Israel Mortgage Rate Update
For those borrowers looking for US Dollar based loans, LIBOR loans are now available for foreigners as low as LIBOR+1.8% on the ENTIRE loan amount.
Being able to take the entirety of the loan in a variable rate represents a tremendous benefit, as most lenders are unable to provide more than 1/3 of the loan […]
Israeli Credit Rating May Be Cut by S&P in Line With U.S. Action
Israel may have its AAA credit rating on U.S.-guaranteed sovereign bonds cut by Standard & Poor’s Ratings Service in line with a similar action it has warned of taking on U.S. debt.
S&P put Israel’s rating on “CreditWatch” today, meaning there is a 50 percent chance it may be cut in the next 90 days.
It […]
Red, Hot and Blue
The Israeli mortgage banking industry is in the midst of unprecedented times.
The Bank of Israel, faced with a soaring real estate market and a steadily appreciating shekel, has found it tough to strike a balance between its attempt to dampen speculation in the red-hot real estate market and keep a stable exchange rate.
How hot […]
10 Commandments when Buying Pre-Owned Real Estate in Israel
It is such an exciting time in life when one can finally realize the dream of purchasing real estate in Israel.
Whether it is a first home, second home or vacation property, the rule of buyer beware applies.
As with all things in life, you must enter this process with eyes wide open and be prepared […]
Mortgage Interest Rates Hit Historic Low
Two articles from Globes below, showcase how mortgage interest rates have hit a historic low in recent weeks…
The Bank of Israel reports that the average mortgage interest rate fell to a historic low of 2.18% in October from 2.2% in September. The Bank of Israel’s new guidelines on mortgage terms, aimed at raising mortgage costs, […]