Bank of America reported higher second-quarter earnings Tuesday, thanks to a boost in total loans and the benefit of increased interest rates. Net income for the period ending June 30 was $4.9 billion, up 11 percent from the year-ago period. Much of the increase in profit was due to higher net interest income, as a … Read more
US household debt surged $460 billion last year, the biggest increase in 10 years, and has nearly returned to the peak level before the global financial crisis, the New York Federal Reserve said Thursday. However, the increase in recent years has been driven by student debt and auto loans, rather than by the mortgages that … Read more
New figures released by the Bank of Ghana (BoG) reveal demand for loans for house purchase by customers of banks have reduced despite an ease in credit access by commercial banks. Banks in July 2016 eased their credit stance to households for house purchase and consumer credit. Despite the move demand for mortgages saw a … Read more
Ghana’s quest to reduce the almost 2 million housing deficit may take a long time as interest on mortgage loans continue to rise. According to latest average interest and Annual percentage report released by the Bank of Ghana, interest on home loans increased marginally from 30.6 to 31.5 percent between May and September this year. … Read more