US 30-year mortgage yields drop to record low

Note: This section contains information in English only.
Source: Bloomberg

Mortgage rates for US 30-year loans fell to the lowest since 1971 amid signals property market is improving. The average borrowing cost on a 30-year mortgage decreased from 3.94% to 3.71% this week. Declining home prices and relatively low interest rates are propelling affordability, claimed Ellen Zentner, Nomura Securities International's senior US economist. 

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Fri, 23 Dec 2011 11:01:17 GMT

Russia cuts benchmark refinancing rate

Russia unexpectedly lowered country's refinancing rate while increasing its overnight deposit rate after inflation decelerated, reaching the smallest year-end reading since the collapse of Soviet Union. Bank Rossii cut nation's refinancing rate from 8.25% to 8.0%. Decision was made to circumvent inflation risks and threats to economic growth. 

Fri, 23 Dec 2011 08:38:30 GMT

Christchurch in New Zealand hit by 5.8 earthquake

Christchurch, the second biggest city in New Zealand, was hit by sequence of earthquakes, damaging several buildings, flooding roads and pushing rescuers to evacuate shopping centres. No victims, serious injuries or damages were reported. Christchurch still is retrieving from series of quakes which began in September 2010.

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