Lenders enjoy wider mortgage rate spread

Article Abstract:

Mortage rate specialists and consumer lobbyists said consumers are paying around a quarter percentage point more than what they normally pay so they could secure new mortgages and seek new financing. The experts said the spread between government bonds, on which the mortages are dependent, and the mortgage rates are wider than necessary. For instance, a $100,000 mortgage will have an additional $17 a month because of the wider spread. Ed Mierzwinski at the US Public Interest Research Group said the pricing has become predatory with banks charging consumers more but paying them less.

Commodity & service prices, Mortgage Bankers, Real Estate Credit, Mortgage banks, Article

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Merger means low gas prices -- for now

Article Abstract:

The merger of Exxon and Mobil will, in the short-run, provide consumers with low gas and heating oil prices because of the heightened competition in the industry. However, the longer-term outlook is not bright for the consumers. The continued consolidation of the industry will eventually lead to fewer and bigger companies controlling prices because there will be less competition. Public Citizen's Critical Mass Energy Project Director Wenonan Hauter believes that consumers will eventually pay for the consolidation of the industry since it induces non-competitive behavior.

Acquisitions & mergers, Petroleum and Coal Products Manufacturing, Petroleum, Exxon Mobil Corp.

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