ICS CHIEF WELCOMES COOLER HOUSE MARKET - There are annual results today from the Bank of Ireland owned ICS Building Society. It has roughly 5% of the market and runs its business from a number of mortgage stores and also takes in Bank of Ireland's business from mortgage brokers.
This morning it says it made pre-tax profits of €129m in 2006 - up 13.5% on the previous year. That is on the back of a 14% increase in new loans in the year worth bang on €2 billion.
ICS managing director Joe Larkin said the market was slowing, but that was not a bad thing after a record year for mortgage lending last year.
He said property price inflation would be around 3% this year, after price rises of just 0.3% in the first quarter, adding that the double-digit increases of recent years could not go on. Mr Larkin said there was still strong demand, but the main factor in the slowdown was higher ECB interest rates.
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MAST MONITOR SERVICE LAUNCHED - There is much debate about the health impact of living close to a mobile phone mast. Today sees the launch of a new service which is also a world first. The service, called Open Access, monitors radio emissions from masts and other installations.
Director of Open Access Joe Moore said the company had been developing the service for the last 12 months.
He said concerned groups or people could commission the company to do an initial survey to check emission levels from masts. They could then place a monitor wherever the levels were highest. Mr Moore said the annual subscription fee would be around €20,000 a year.
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IRAN MAKES OIL MARKET JITTERY - New York's main oil contract was up 89 cents at $63.82 a barrel, while Brent North Sea crude was up 92 cents at $65.52. The rises were due to tensions in Iran.
