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...The 30-year borrowing rate breached 7 per cent in mid-February for the first time since December as traders scaled back bets on interest rate cuts from the Federal Reserve this year....
...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....
...UK lenders reported a return to growth in the demand for mortgages in the first three months of 2024, according to the latest official data, providing further evidence of the property market stabilising....
...A blip, or the first chink in the armour of the great AI narrative? You tell us: robert.armstrong@ft.com and ethan.wu@ft.com....
...UK lenders said mortgage demand returned to growth in the first three months of 2024, according to official data published on Thursday that adds to evidence of stabilisation in the property market....
...“Very suspicious at first glance.”...
...Just 6 per cent of new mortgages taken out in the first three months of the year were trackers, according to John Charcol; nine in 10 were fixed; in all, half were two-year fixes....
...But the structure of the mortgage market has been blamed for making it more difficult for first-time buyers to get on the housing ladder at all....
...Pimco has proposed its first mutual fund-to-ETF conversion, according to a regulatory filing....
...US mortgage rates have risen back above 7 per cent as robust economic data reduces the chances of the Federal Reserve cutting interest rates soon....
...UK house prices fell for the first time in six months in March, according to the lender Halifax, surprising economists and adding to signs of inconsistency in the property market recovery....
...From BofA: Mortgage rates have eased — now hovering just around 7% — and we expect the first Fed cut . . . in June....
...US mortgage rates have fallen below 7 per cent for the first time in four months, a sign of relief for the housing market as the Federal Reserve shifts its monetary policy path towards interest rate cuts...
...Its gain-on-sale margin — which measures how much is earned when mortgages are sold — came in at 2.6 per cent in the first nine months of 2023, compared with 4.5 per cent in 2020....
...UK house prices rose more than expected in February, posting their first annual increase in more than a year according to lender Nationwide, adding to evidence of a market recovery as mortgage rates eased...
...The average asking prices for properties of up to two bedrooms, which Rightmove classifies as being for first-time buyers, was almost flat month on month at 0.3 per cent....
...Nevertheless, the figure remains well below a peak of 3.64 per cent in the first quarter of 2009, during the global financial crisis....
...Northern Ireland was the best-performing region, with house prices rising by an annual rate of 4.6 per cent in the first three months of 2024, according to Nationwide....
...UK average mortgage rates fell for the first time in over two years, according to data from the Bank of England, suggesting that the burden on homeowners is easing as lower borrowing costs filter through...
...Then at the end of the third year, the mortgage rate would jump to a market rate, and all the interest which you didn’t pay in the first three years would be added to the balance of the loan....
...The first signs of borrowers responding are likely to show up in mortgage approvals....
...US mortgage rates have fallen to their lowest level since July, in a sign that the economy is cooling as Federal Reserve officials prepare for their latest interest rate decision on Wednesday....
...Friday interview: Harley Bassman Almost all of what fixed-income options traders do on Wall Street today, Harley Bassman did first....
...Their supporters say they provide borrowers with certainty and help them pass mandatory affordability tests, particularly those buying their first home....
...Nevertheless, the share of mortgages in arrears remains well below a peak of 3.64 per cent in the first quarter of 2009 during the global financial crisis....
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