Exact(2)
Another is that by encouraging countries to issue debt at shorter maturities, the programme would create a bigger refinancing hump at the point when it was wound up.
New issues of long bonds were halted in 2001, but higher public debt has exposed the government to bigger refinancing risks; investment groups faced with long-term liabilities also benefit.Down a stepAs expected, the Bank of England cut its key interest rate by one-quarter of a percentage point to 4.5%, the first drop in two years.
Similar(58)
There will not be another big refinancing.
Bank of America claims that she pulled out over $140,000 in a big refinancing in 2005, but Ms. Roberts was stunned when I mentioned that figure to her.
Germany's medium-sized banks, for example, are weak and have big refinancing needs, but can still borrow at very low rates because investors reckon the state has the strength to back them.
The average contract interest rate for a 30-year mortgage fell to 6.13percentt, a new low, in the week ended Aug. 9. "We are in a pretty big refinancing wave," said Yubo Wang, senior mortgage strategist at Morgan Stanley.
Tata Steel Europe will face a big debt-refinancing in 2015.
Months after the end of one big mortgage-refinancing boom, another is under way -- three years or more earlier than many lenders had expected.
"We had a big cash-out refinancing boom in 2001 , 2002" said Orawin Velz, a senior economist at Fannie Mae.
If the difference in interest rates is big enough, a refinancing may make sense even with the prepayment penalty.
For instance, $1.84 trillion of mortgages were originated in 2009, a big year for refinancing, according to data from Inside Mortgage Finance, a trade publication.
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