Interest Rates

Mortgage rates sink to 2014 low

May 8, 2014
Associated Press
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers, while many homeowners are reluctant to list their properties for sale.

Average 30-year mortgage rate climbs to 4.48 percent

December 27, 2013
Associated Press
Rates are sharply higher than they were a year ago when the 30-year fixed rate was 3.35 percent and the 15-year was 2.65 percent.

Stonegate Mortgage profit slows in third quarter

November 14, 2013
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.

Local hotelier files for bankruptcy on 7 properties

November 8, 2013
Mason King
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.

First Internet profit falls on rising interest rates

October 25, 2013
Chris O'Malley
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.

Carmel council approves refinancing package

November 19, 2012
 IBJ Staff
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.

Record-low rates aren't creating rush at local mortgage firms

March 12, 2012
Scott Olson
Local mortgage industry executives say record-low interest rates aren't leading to a big boom in business because broader economic issues are keeping large parts of the population from seeking or qualifying for loans.

UPDATE: Competitors' woes could help Fishers mortgage firm expand

December 14, 2010
Francesca Jarosz
Fishers-based Stonegate Mortgage Corp. plans to spend about $3 million to expand operations, creating up to 300 jobs by 2015.

Bond swaps cost city units $93M in penalties

July 3, 2010
Cory Schouten
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied on misguided assumptions, and taxpayers paid.

New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.

Indiana Legislature approves mortgage certification program

March 20, 2010
 IBJ Staff
Rating system will help homebuyers avoid the risks of borrowing.

Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.

Market, not bailouts, should stimulate refinancingsRestricted Content

March 2, 2009
Mike Hicks
Markets, no matter how imperfect, not government programs, manage the economy.

Hospitals suffer from spiking bond interest rates, investment lossesRestricted Content

November 3, 2008
J.K. Wall
Indianapolis-area hospitals have suffered a double whammy of spiking interest rates on their bonds and heavy losses in their investment portfolios and are trying to save cash any way they can.
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  1. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!