Friday, June 1, 2007

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Spire of Mortgage Hope. Kyiv Presents First Issue of Mortgage ...

Ukrgasbank came out with the local inaugural issue of mortgage notes within the project of United States Agency for International Development (USAID) "Initiative of Crediting Assistance (ICA) in association with Pragma Corporation.
After nearly a quarter of millennium since mortgage securities were firstly issued in the world history (that was in Lower Silesia (Prussia) in 1796), one of the key financial instruments finally came up in our country.

During the road-show on February 27, its initiators presented the three-year mortgage notes they issued in the amount of UAH 50 billion with the coupon rate of 10.5%. HVB Ukraine and Grant Thornton Ukraine were selected as Mortgage Pool Administrator and Auditor correspondingly.

Ukrgasbank explains that the small issue volume (even for the domestic financial markets) is due to the necessity to test and master the instrument which is absolutely new for the national market.

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Your car insurance rate can go down, if you shop

The typical American driver will pay less for auto insurance this year than in 2006, according to the Insurance Information Institute. This is the first decrease in insurance premiums since 1999.

But the average annual cost for car insurance is still a hefty $847 (it was $851 in 2006).

There are ways to bring down your costs:

• Shop around for insurance quotes. Get estimates from at least three places.

• Consider insurance costs when buying a car. Some cars just cost more to insure.

• See if buying your homeowners and auto insurance from the same company is cheaper.

• Raise your deductible. But be sure you can afford to pay it if you have an accident.

• Ask for discounts.