So this is for the public sector or is it really a way for Banks to bring mortgages for all into the system. Rushing to bring mortgages is only sound if the level of employment and sustainable growth in the job market means t ... read full comment
So this is for the public sector or is it really a way for Banks to bring mortgages for all into the system. Rushing to bring mortgages is only sound if the level of employment and sustainable growth in the job market means that those who look to use this have the opportunities to maintain employment and not lose their homes. Ghana should not forget about why the Subprime issue in the States occurred. Mortgages can empower BUT also destroy finances if not managed properly.
DAN 11 years ago
thats what happened in usa..first some people borrowed more than they could afford and others lost their jobs.. so when they where evicted from their homes they either got apartments or moved in with family and left those hom ... read full comment
thats what happened in usa..first some people borrowed more than they could afford and others lost their jobs.. so when they where evicted from their homes they either got apartments or moved in with family and left those homes empty for the banks and metal theives to plunder
DAN 11 years ago
they prime rate in usa is less that 1%. Banks in usa are paying less than 1% on savings..How can this idiot say he's borrowing at 7%...when my car loan was 4.9% for 6 year! Even at 10% he's screwing you...Home loans in usa ar ... read full comment
they prime rate in usa is less that 1%. Banks in usa are paying less than 1% on savings..How can this idiot say he's borrowing at 7%...when my car loan was 4.9% for 6 year! Even at 10% he's screwing you...Home loans in usa are 3.40% for 30 years
Sakura 11 years ago
The answer is simple. HFC is not a credible borrower. Why should I lend to a mortgage finance company from a country with a weakening local currency and an economy that is anaemic? NOTE THAT HFC IS BORROWING IN US DOLLARS AND ... read full comment
The answer is simple. HFC is not a credible borrower. Why should I lend to a mortgage finance company from a country with a weakening local currency and an economy that is anaemic? NOTE THAT HFC IS BORROWING IN US DOLLARS AND LENDING IN GHC CEDIS. With our currency falling, HFC is setting itself up for a big disaster (BANKRUPTCY, probably). THEY ARE VERY LUCKY TO GET a borrowing cost of 7%.
Sakura 11 years ago
I smell something at HFC, a lender advocating lower mortgage rates!! HFC is lying to the public; they have been borrowing in dollars and lending in Ghanaian cedis. With the local currency falling steadily against the dollar, ... read full comment
I smell something at HFC, a lender advocating lower mortgage rates!! HFC is lying to the public; they have been borrowing in dollars and lending in Ghanaian cedis. With the local currency falling steadily against the dollar, a lethargic economy that is generating non-performing loans on their books (that have been hidden from our useless analysts) the company is finding it difficult to meet their dollar-denominated debt obligations. This is one of the reasons why management recently talked about de-emphasizing the mortgage business. The day of reckoning is at hand. The government of Ghana must be ready for a huge mine that could create big hole in our economy.
As a lender you make money on interest rate spreads so why are they talking about bringing down interest rates? Lower interest rates are good, but HFC, a lender, should not be talking about lower interest rates. There is something fishy going on. Their dollar-denominated debts are being called and they are in very hot waters.
Kyekyeku 11 years ago
My mortgage loan in America is just 3.7 percent fixed rate which can never go up. What are we doing to Ghana. It's very sad
My mortgage loan in America is just 3.7 percent fixed rate which can never go up. What are we doing to Ghana. It's very sad
So this is for the public sector or is it really a way for Banks to bring mortgages for all into the system. Rushing to bring mortgages is only sound if the level of employment and sustainable growth in the job market means t ...
read full comment
thats what happened in usa..first some people borrowed more than they could afford and others lost their jobs.. so when they where evicted from their homes they either got apartments or moved in with family and left those hom ...
read full comment
they prime rate in usa is less that 1%. Banks in usa are paying less than 1% on savings..How can this idiot say he's borrowing at 7%...when my car loan was 4.9% for 6 year! Even at 10% he's screwing you...Home loans in usa ar ...
read full comment
The answer is simple. HFC is not a credible borrower. Why should I lend to a mortgage finance company from a country with a weakening local currency and an economy that is anaemic? NOTE THAT HFC IS BORROWING IN US DOLLARS AND ...
read full comment
I smell something at HFC, a lender advocating lower mortgage rates!! HFC is lying to the public; they have been borrowing in dollars and lending in Ghanaian cedis. With the local currency falling steadily against the dollar, ...
read full comment
My mortgage loan in America is just 3.7 percent fixed rate which can never go up. What are we doing to Ghana. It's very sad