Second Mortgage Interest Rate
ANZ joins rivals in rates rise
ANZ Bank has increased its home loan interest rates, becoming the last of the major banks to pass on this week's rise in official rates.
The bank says it will increase interest rates for a range of key deposit and lending products by 25 basis points following Reserve Bank of Australia's (RBA) 25 basis point rise in interest rates to 6.0 per cent this week.
Effective Monday, the interest rate on ANZ's standard variable rate home loan will increase to 7.82 per cent for new and existing customers.
ANZ's other variable rate mortgage products will also increase by 25 basis points effective from Monday.
Money Saver rates lift to 7.22 per cent, Equity Manager to 7.82 per cent and Home Equity to 8.32 per cent.
"This is the second increase in official rates this year which inevitably places additional pressure on household budgets," ANZ group managing director personal Brian Hartzer said.
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Capital Title Group Reports Second Quarter and Six-Months Results
PHOENIX--(BUSINESS WIRE)--Aug. 1, 2006--Capital Title Group, Inc. (Nasdaq:CTGI) -- named for a second consecutive year in FORTUNE'S 100 Fastest Growing Companies in America in 2005 -- is a national provider of title, appraisal, flood and other transaction services to the real estate and mortgage lending industries.
Capital Title today reported revenue of $84.9 million for the second quarter ended June 30, 2006, a decrease of 19.8% compared to revenue of $105.8 million in the same quarter of 2005. The revenue decrease in the second quarter is primarily attributable to a general decline in real estate market activity in 2006 compared to the prior year, a result of the increase in mortgage interest rates. Earnings attributable to common shares for the second quarter ended June 30, 2006 were $2.7 million or $.09 per diluted share on weighted average shares outstanding of 31.0 million shares compared to the second quarter ended June 30, 2005 when earnings attributable to common shares were $7.2 million or $.30 per diluted share on weighted average shares outstanding of 24.2 million shares.