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) Online Mortgage Portal Receives Spike in Refinance Applications after the Fed Cut Rates
LendingGateway.com receives hundreds of online enquires to get into a fixed rate despite the interest rate drop.San Diego, CA (PRWEB) September 28, 2007 -- Over the last week, after the Federal Reserve cut interest rates by 0.5 percentage points, LendingGateway.com received an increase in online enquires and phone calls about how this will affect the home loan market. Despite the Federal Reserve's intentions of alleviating the "sub-prime" home loan chaos through the rate cut mortgage rates continued to increase.
"The most common thing we see is people that have adjustable rate mortgages worried about their interest rate increasing and affecting their ability to meet their monthly loan payment," explains Scott Olson, COO at LendingGateway.com, "the best advice our loan consultants give is to look into re-financing their existing home loan from an ARM to a safer fixed rate."
In addition to an increase in online mortgage applications, LendingGateway.com, also saw a jump in several debt consolidation enquiries on their online form at https://apply.lendinggateway.com/forms/debt.php
"Although we advise consumers to get into a safer fixed rate not everyone qualifies," says Alexander Capio, Owner and CEO of LendingGateway.com. More>>
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) Bernanke Abolishes Corrections and Bank Losses
I was shocked by yesterday's decision by the Federal Reserve to lower interest rates by 50 basis points and then signal that there is more to come in its statement. The Fed is in a tough bind. I know there are frightening things happening in the credit markets and banks and Wall Street is clamoring for rate cuts. We saw the near collapse of Countrywide Financial a few weeks ago and England's Northern Rock has experienced a full fledged bank run. At the same time though inflation is accelerating as oil prices hit all-time highs and gold breaks through $700 an ounce and the DOW is only 1.7% off of its all-time high. Look the Fed saved the stock market from crashing on August 16th by intervention. We've since seen a rally going up into yesterday's expected Fed announcement while the credit markets continued to deteriorate. More>> - (
) Top 100 Global Chemical Companies Unveiled by ICIS Chemical Businesss
ICIS Chemical Business has unveiled its list of the Top 100 global chemical companies based on 2006 sales, led by BASF, Dow Chemical and ExxonMobil.Germany-based BASF once again took the top spot with $69bn in sales, up 23% from 2005, driven by acquisitions, growth and the strength of the Euro versus the dollar. Dow came in second again with $49bn in sales. Overall Top 100 sales were up 6% in 2006.
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) Smart Lending Solutions Positioned to Take Advantage of Recent Mortgage Rate Decrease by Offering Lending Options to ...
Offering a competitive edge to consumers wanting to take advantage of the recent cuts to mortgage rates, www.smartlendingsolutions.com presents ability for users to work with one of their more than 1600 licensed broker affiliates.Tempe, AZ (PRWEB) September 28, 2007 -- As the mortgage industry licks its wounds from the recent reports of a dismal outlook on both the mortgage industry and new home sales, companies focused on offering a wide variety of lending options are quickly proving to be the ideal resource for consumers. One such company is www.smartlendingsolutions.com. Smart Lending Solutions offers one of the widest varieties of lending options in the industry, with a multitude of commercial and residential loans as well as refinancing options.
Focused on an inclusive approach towards mortgage lending, www.smartlendingsolutions.com now offers consumers of all credit levels the ability to take advantage of the Fed's recent half-point cut in mortgage rates; by helping consumers to locate and secure their customized home loan, business loan or refinance. More>>