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...These new performance metrics reflect how Citi, which has taken a more flexible approach to working from home than many rivals, is trying to squeeze more from its employees....
...But Perenna is launching its long-term home loans just as the governor of the BoE, Andrew Bailey, cast doubt on the need for further interest rate rises....
...The average rate for a 30-year, fixed home mortgage was around 6.63 per cent last week, according to Freddie Mac....
...Mortgage rates were at 7.5 per cent, a 10-year high and more than double the 3.25 per cent interest Angela, who requested that the Financial Times not use her last name, was paying on the loan on her home...
...Homeowners who have locked in on low mortgage rates are reluctant to sell, limiting the supply of houses for sale....
...GEORGE BUSH: In recent years, innovative mortgage products have helped millions of Americans afford their own homes, and that's good. Unfortunately, some of these products were used irresponsibly....
...Home Depot has struck one of its biggest-ever deals to acquire speciality building products supplier SRS Distribution in a move that could boost its faster-growing professional services business....
...They function as a place for depositors to safely store their cash and obtain other financial services beyond loans....
...If they charge an additional fee, what additional services does it buy you? The key things to question are communicating after hours, and the level of aftercare you can expect....
...Burton Resnick, another developer, bought it in 1989 for $77mn, and — with a $50mn loan from Citicorp — began renovations. But it was a disaster....
...He was referring in part to the planning restrictions that complicate alterations to heritage homes whose owners are often among those most likely to have the cash to drive demand for green goods and services...
...Svanstrom said Rightmove was continuing to diversify its business into new areas including rental and mortgage services, and commercial real estate....
...I’d be mortgage free, if I owned just one home. And my costs of living would be drastically reduced, too. But where’s the fun in that?...
...Citi says it serves 700 law firms and 50,000 lawyers in the US and Britain, providing services that include favourable mortgage rates....
...“We have seen demand for new homes start to dry up.”...
...The system de facto forced sellers to hire realtors in order to expose their homes to buyers and to be advertised on multiple listing services, which are central databases of properties, thus violating antitrust...
...With about three-quarters of homeowners paying 4 per cent or less on their mortgages, they are “trapped” in their current homes because a new mortgage means paying more than 7 per cent....
...UK private landlords typically have interest-only mortgages. That exposes them to steeper cost increases on refinancing than owner-occupiers when rates rise....
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...A law firm consultant said a managing partner of a top firm once called his Newport, Rhode Island, holiday home, “the house that Citi built”, because of the deal he got on his mortgage....
...We enjoyed meeting Unhedged readers at Tuesday’s FT Alphaville pub quiz in New York, where a team from GIC, the Singaporean sovereign wealth fund, brought home gold....
...“Nationwide is a good home for it and will benefit customers.”...
...Rising rates could also offer an opportunity to expand mortgage sales and connected services by using data to develop appealing digital products....
...At the end of 2023, about 70 per cent of mortgage holders had rates more than 3 percentage points below the market rate....
...of elevated mortgage rates....
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