Points of Interest

Read about – points of interest – issues that may affect your mortgage or the rates you can get – at First Israel, we are here to help.

Three Mortgage Strategies to save money

1) Mix up your mortgage product term length:
Fixed rate loans are cheaper the shorter the duration, while adjustable rate loans are typically the same rate – regardless of the term.

If you plan to take a 20 year term comprising of both fixed and variable rates (short-term variable rate loans have no pre-payment penalty), take a 15 […]

By |September 3rd, 2016|Points of Interest|Comments Off on Three Mortgage Strategies to save money

“Mr. Fischer: Let the people refinance”

An economic slowdown in Israel combined with a steadily appreciating Shekel have prompted the Bank of Israel to lower interest rates four times in the last twelve months in an attempt to stimulate the economy and weaken the Shekel.

However, the Bank of Israel has clearly stated that the moves are not intended to boost […]

By |December 16th, 2013|Points of Interest|Comments Off on “Mr. Fischer: Let the people refinance”

Monitors and Mortgages

More often than not, “simple” choices aren’t as simple as they seem.

Having opened up our second location on King George Street, one of the busiest streets in Jerusalem, we felt it would be a good idea to install flat screen monitors in our window displaying current mortgage rates and terms.

We assumed that the purchase […]

By |December 19th, 2012|Points of Interest|Comments Off on Monitors and Mortgages

Fischer signals tougher measures to limit mortgages

Measures taken so far to limit mortgages were a first step and relatively moderate, says the Bank of Israel in excepts published today on macroprudential policy that will appear in its Annual Report, which will be published on March 30.

The Bank of Israel says, “During 2010, the Supervisor of Banks announced a series of steps […]

By |December 27th, 2011|Points of Interest|Comments Off on Fischer signals tougher measures to limit mortgages

Israel Mortgage Rate Update

For those borrowers looking for US Dollar based loans, LIBOR loans are now available for foreigners as low as LIBOR+1.8% on the ENTIRE loan amount.

Being able to take the entirety of the loan in a variable rate represents a tremendous benefit, as most lenders are unable to provide more than 1/3 of the loan […]

By |December 16th, 2011|Points of Interest|Comments Off on Israel Mortgage Rate Update

Israeli Credit Rating May Be Cut by S&P in Line With U.S. Action

Israel may have its AAA credit rating on U.S.-guaranteed sovereign bonds cut by Standard & Poor’s Ratings Service in line with a similar action it has warned of taking on U.S. debt.

S&P put Israel’s rating on “CreditWatch” today, meaning there is a 50 percent chance it may be cut in the next 90 days.

It […]

By |December 7th, 2011|Points of Interest|Comments Off on Israeli Credit Rating May Be Cut by S&P in Line With U.S. Action

Red, Hot and Blue

The Israeli mortgage banking industry is in the midst of unprecedented times.

The Bank of Israel, faced with a soaring real estate market and a steadily appreciating shekel, has found it tough to strike a balance between its attempt to dampen speculation in the red-hot real estate market and keep a stable exchange rate.

How hot […]

By |December 21st, 2010|Points of Interest|Comments Off on Red, Hot and Blue

10 Commandments when Buying Pre-Owned Real Estate in Israel

It is such an exciting time in life when one can finally realize the dream of purchasing real estate in Israel.

Whether it is a first home, second home or vacation property, the rule of buyer beware applies.

As with all things in life, you must enter this process with eyes wide open and be prepared […]

By |December 21st, 2010|Points of Interest|Comments Off on 10 Commandments when Buying Pre-Owned Real Estate in Israel

Mortgage Interest Rates Hit Historic Low

Two articles from Globes below, showcase how mortgage interest rates have hit a historic low in recent weeks…

The Bank of Israel reports that the average mortgage interest rate fell to a historic low of 2.18% in October from 2.2% in September. The Bank of Israel’s new guidelines on mortgage terms, aimed at raising mortgage costs, […]

By |December 21st, 2010|Points of Interest|Comments Off on Mortgage Interest Rates Hit Historic Low