Mortgage Rates are at Historical Lows

According to the latest MBA weekly survey, average interest rates on a 30-year fixed-rate mortgage falling to just 3.19 percent – another record low in the history of MBA’s survey. The average interest rate for a 15-year fixed-rate mortgage fell to just 2.70 percent.

ICICI Bank slashes lending rates by 10 bps across tenors

ICICI Bank has reduced the marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenors. The revised rates of the bank became effective from August 1, 2020.The present MCLR for the private lender is 7.20%-7.45% as against 7.30%-7.55% earlier. Its overnight and one-year rates were slashed to 7.20% and 7.45% whereas […]

Bank of Maharashtra announces cut in repo-linked lending rate by 40 bps to 7.05%

TCS, 2 others shortlisted for implementation of RBI’s market surveillance system India brands Pakistan’s new political map an ‘exercise in political absurdity’ Tata Consumer Products Q1 profit up 82% at Rs 346 crore

Canara Bank cuts in repo-linked lending rate by 40 bps

TCS, 2 others shortlisted for implementation of RBI’s market surveillance system India brands Pakistan’s new political map an ‘exercise in political absurdity’ Tata Consumer Products Q1 profit up 82% at Rs 346 crore

US manufacturing activity crawls off 11-year low

The promising signs of stabilization in manufacturing reported by the Institute for Supply Management on Monday are a welcome respite as the country braces for data on Friday expected to show the worst unemployment rate since World War Two. Rampant joblessness will lead to tepid demand and economic growth.”Today’s report on the manufacturing sector represents […]

A rate-cut and one-time loan restructuring will help resurrect the economy

Apart from interest rates, RBI would have to decide on the loan moratorium, which is valid till August 31, 2020. This will have a bearing on financial stability. Data for Apr’20 shows as many as 55 per cent customers had opted for moratorium. Latest data on moratorium released by banks for Jun’20 shows large decline […]

‘History Happened In This Stadium’: Paterson Politicians Approve Development Project To Rebuild Historic Hinchliffe Stadium

“This stadium has been in decay for generations. It’s been a nightmare for families living around the 1st and 2nd ward,” said Gilman Choudhury, a councilman from the city’s 2nd Ward. “Right now is the most possible opportunity we’ll have to give the families and people yet born to have the dignity they deserve.”

US STOCKS-Wall St falls after historic GDP slump, Trump suggests election delay

“The short-term data indicates we’re kind of flattening out a little bit, which indicates the recovery is much less a ‘V’ and a little bit more a ‘square root sign’ at this point,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

Wall Street falls after historic GDP slump, Trump suggests election delay

“The short-term data indicates we’re kind of flattening out a little bit, which indicates the recovery is much less a ‘V’ and a little bit more a ‘square root sign’ at this point,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.

State’s unemployment rate drops to 8.8% in July

The state’s unemployment rate has dropped significantly to 8.8% in July compared to 21% in June, reflecting the improvement in employment prospects due to relaxations given during the two Unlock phases. With this, the unemployment rate has almost returned to that in the pre-lockdown period, according to the monthly data of the Centre for Monitoring […]