VietNamNet Bridge - The difficulties Vietnam has to face in the next five years will increase as ODA loans will be cut by 50 percent, while new loans will bear an interest rate of 3 percent. The new government has made the first decision in its tenure – setting up economic goals for the next five-year development period to 2020. The state budget deficit and the inflation rate, the two important indexes, have been set up at below 4 percent. The National Assembly’s resolution pointed out that the interest rate policy must be regulated in a flexible way in accordance with the performance of inflation. Which macroeconomic tools will the government use to drive the national economy to be sure it can go on the normal track in the next five years? The difficulties Vietnam has to face in the next five years will increase as ODA loans will be cut by 50 percent, while new loans will bear an interest rate of 3 percent. The budget deficit and inflation rates are variables which … [Read more...] about Are the next 5-year economic goals attainable?
5 year closed mortgage rates ontario
Around 10 new housing projects have hit the market in Ho Chi Minh City since early March. Tan Phuoc apartments in outlying District 12 is being sold at VND24 million (US$1,140) a square meter and sales of the under-construction Hung Ngan Garden apartments in District 12 opened in mid-March at VND10.9 million a square meter. Doan Chi Thanh, general director of Hoang Anh Saigon Real Estate Company, the developer, said buyers can pay gradually until construction is complete. Banks are offering mortgages at low interest rates. Asia Commercial Bank (ACB) has announced a rate of 9.5 percent for the first six months for loans of at least VND300 million for people buying from luxury developer Phu My Hung. Beyond the preferential terms, the rates will be 3.5 percent on top of the deposit rate. VietinBank offers loans at 8 percent for the first six months for buying apartments at 17 projects it has tied up with. TOP BANKS PROMISE $2.4 BLN TO PROPERTY FIRMS BIDV, Vietcombank, VietinBank … [Read more...] about Vietnam banks cut mortgage rates, but buyers not keen
Vietnam's bonds rose, driving the three-year yield to the lowest level in almost five years, on speculation the central bank will reduce interest rates as inflation slows. The dong was steady. Some Vietnamese banks have cut local-currency deposit rates to as low as 7.5 percent, Tuoi Tre newspaper reported yesterday. The central bank in December lowered the cap on dong deposit rates to 8 percent from 9 percent. Consumer prices in Ho Chi Minh City dropped 0.29 percent this month from February, and declined 0.21 percent in Hanoi, online newswire CafeF reported March 20. "Easing inflation will give room for the central bank to lower interest rates further, so investors are buying bonds in anticipation of rate cuts," said Hoang Thanh Tam, head of the fixed-income department at Vietnam Maritime Commercial Joint- Stock Bank in Hanoi. The three-year yield fell 13 basis points, or 0.13 percentage point, to 8.23 percent, the lowest since March 31, 2008, according to a daily fixing from … [Read more...] about Vietnam yield falls to 5-year low on rate outlook
U.S. fixed mortgage rates this week edged up for the third straight week following recently released stronger economic data, according to the Primary Mortgage Market Survey released Thursday by Freddie Mac. The mortgage giant said the 30-year fixed-rate mortgage (FRM) was 3.62 percent in the week ending August 16, up from last week's 3.59 percent. It has been below 4 percent all but one week in 2012. The 15-year FRM, a popular choice for those looking to refinance, also increased to 2.88 percent from 2.84 percent a week earlier. It has been below 3 percent for 12 consecutive weeks. … [Read more...] about U.S. fixed mortgage rates continue to rise with stronger economic outlook
The interbank overnight interest rate has tumbled to 2.5 percent a year, the lowest rate since the figure was set for the first time 5 years ago. The rate was first set on July 23, 2007, falling 0.5 percent from the previous rate of 3 percent, according to the State Bank of Vietnam (SBV). The new rate, dropping from the previous rate of 3-3.6 percent, is the lowest since 2005, according to Reuters data. On the interbank market, the interbank interest rate for a one-week term has also fallen to 3.5-4 percent a year, down sharply from 4-4.5 percent a year. The interest rate for a 1-month term has also dropped from 6-7 percent to 6-6.5 percent a year. On the open market operations (OMO), interest rates of treasury bills (T-bills) have also declined to 5.8-10.23 percent a year. However, many commercial banks continue to buy T-bills at a daily volume of some VND3 trillion. The total amount of money commercial banks have spent on T-bills since March 15 is more than VND80 … [Read more...] about Interbank overnight rate dips to 2.5pct, 5-year low