Hints and tips:
Related Special Reports
...Sales of new-single family homes in the US have stalled since the start of this year, as mortgage rates creep up from the multi-month lows they hit in late 2023....
...The growing demand for mortgages that usually characterises the spring home buying season could delay approvals....
...Sales of previously built homes in the US declined in March, as persistently high mortgage rates continue to constrain buying activity....
...Mortgage brokers have welcomed an “innovative” home loan aimed at first-time buyers, which requires a deposit of just £5,000 for homes worth up to £500,000....
...Simon Gammon, managing partner at Knight Frank Finance, said: “Demand for mortgages to buy homes has been rising since the new year and momentum will continue to build into the summer.”...
...Brexit and mortgage regulatory changes also played a role, according to Richard Donnell, executive director at property consultancy Houseful....
...Persimmon overshot expectations for new home building last year as falling mortgage rates helped to boost property sales at the end of the year, but warned of a “highly uncertain” housing market in 2024....
...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...
...Home loan arrears are lower than during the 2008-09 financial crisis in part because of a resilient labour market and improved mortgage regulations....
...Their supporters say they provide borrowers with certainty and help them pass mandatory affordability tests, particularly those buying their first home....
...The average rate for a 30-year, fixed home mortgage was around 6.63 per cent last week, according to Freddie Mac....
...“Previously, older borrowers may have used [mortgages] for home improvement, travel or to help a younger family member get on the property ladder,” said David Hollingworth, associate director at L&C, a mortgage...
...existing homes....
...In 2021 the government introduced a 95 per cent loan-to-value mortgage scheme which officials say has helped close to 40,000 home buyers....
...That’s why they have to react so quickly,” said Simon Gammon, a mortgage broker at Knight Frank. At the end of 2023 there was a rally in bond markets that prompted lenders to lower mortgage rates....
...She’s actually got two mortgages on her property. She’s a first-time buyer who’s then bought a bigger home....
...Existing US home sales in November ticked higher than economists expected, with more buyers entering the market as mortgage rates softened....
...US mortgage applications for home purchases rose by the most in a year in January, according to analysis by Capital Economics of data from the US Mortgage Bankers Association on Wednesday....
...Home prices in big US cities increased in January, but high borrowing costs tempered monthly price gains in a sign that the market was cooling....
...Former UK science minister George Freeman has blamed an impending jump in the cost of his mortgage for his decision to quit the role and warned politics was becoming an unaffordable career....
...Home prices in big US cities steadied in December, with the high mortgage rate environment generally tempering demand in most large metropolitan areas....
...Sales of previously built homes in the US jumped to the highest annual rate in a year, as easing mortgage rates and an increase in supply boosted buying....
...defer spending on big-ticket items and delay DIY projects against the backdrop of sticky inflation and elevated mortgage rates....
...US homebuilder confidence rose to its highest level in 4 months as easing mortgage rates have boosted demand for new homes....
...Including mortgage payments, mortgage insurance and property taxes, he pays $3,500 per month more today than what he spent on rent at the family’s last home....
International Edition