Word: loan
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...National Association of Realtors (NAR) is lobbying for the U.S. government to artificially lower mortgage rates by purchasing loan points for home buyers. They say the program would cost $100 billion, and could raise home prices as much as 4% nationwide. Anyone buying a house for primary residence would be eligible for the mortgage-rate buydown, which would lower a purchaser's loan rate 1% for the life of the loan. They say the incentive should be made available for the next 12 months. "The sentiment in Washington is that we need to get the housing market moving...
Much of the growth was financed by cheap money, as Swedish and Finnish banks competed for customers in Europe's fastest growing region. Entrepreneur Lepik recalls firing off an e-mail loan application in 2006 with a "very basic" business plan, and getting approval in less than a week. Private debt across the Baltics rose from nearly zero to Western levels as consumers became hooked on credit. Home buyers and businesses took out mortgages in foreign currencies, which had the effect of worsening already severe current-account deficits. In a peculiarly Estonian twist, companies in the tech-savvy country began...
...followed? "Risk gets forgotten in all bubbles," says Peter Bernstein, an investment adviser and the author of Against the Gods: The Remarkable Story of Risk. "We've been down this particular road before." Indeed, we have. After every other trauma--the 1987 stock-market crash, the savings-and-loan crisis, the meltdown of the Long-Term Capital Management hedge fund--boisterous, unchecked risk-taking eventually rushed back in. "In times like this, people do listen to risk managers," says John Hull, professor of derivatives and risk management at the University of Toronto. "The problem is, times will become good again...
...power tend to flow as one. A new generation of voters is about to show us whether they dropped in to visit or intend to stay. The Democrats in Congress were handed greater power despite abiding unpopularity; we'll now see whether they understand that it's a loan, not a reward. And the repudiation of President Bush and his allies ensures that the conservative movement will have to sit in a circle, hold hands, light some incense and figure out what its members really believe in when it comes to putting their principles into practice. The legacy...
...college students concerned about their futures, McCain is the only logical choice. In the short-term, McCain wants to expand the Federal Family Education Loan Program that provides subsidies to lenders offering parent and student loans. In the long-term, his stance on social security makes sense for a generation being disinherited by the flawed institution. Obama’s proposal of increasing the income tax for social security pales in comparison to McCain’s introduction of personal accounts...