Hints and tips:
Related Special Reports
...UK households with mortgages experienced higher inflation than any other household type in December, according to new official statistics....
...Some households will pay more in rent than they would pay for their mortgage, but can’t qualify for a loan because they fail the stress test....
...UK mortgages in arrears hit a seven-year high in the final quarter of 2023, according to official data that underlines the impact of high borrowing costs on households....
...The share of UK mortgages in arrears rose to the highest level since 2016 in the last three months of 2023, according to Bank of England data underlining the impact of high mortgage rates on household finances...
...The BoE data on Tuesday also showed other signs of the impact of higher interest rates fading, with cash deposits in household bank accounts rising in February driven by flows into instant access accounts...
...Consumer price inflation for households with mortgages was 9.3 per cent in the year to September, above the headline national rate of 8.2 per cent, the Office for National Statistics said....
...The BoE lenders’ survey, conducted between late February and mid-March, also found that secured credit availability to households improved at the start of the year with the index rising to 18.4 from 10.4...
...The five-year rate is used as the benchmark for mortgages, while household and corporate loans are based on the one-year rate, which remained unchanged at 3.45 per cent....
...Even on our baseline 200bp cutting cycle, households on five-year fixed rate mortgages (around half of total mortgage debt) that refinance over the next two years are likely to face increased mortgage payments...
...He added that households had more scope to make mortgage payments since wages were rising faster than the rate of inflation....
...The index tracking defaults on household mortgages — which shows the proportion of lenders reporting rising defaults over the past three months minus those reporting a decrease — was 23.6 per cent for the...
...Mortgage origination volume looks set to grow again in 2024 after falling to its lowest level in nearly 30 years, according to the Mortgage Bankers Association....
...Hunterbrook accused UWS, a mortgage lender, of cultivating loyal mortgage brokers while telling customers they were independent....
...Higher interest rates have made mortgage payments unaffordable for more households. However, arrears remain well below their peak rates of 3.64 per cent in the first quarter of 2009....
...Isolated from the world’s capital markets, Russian banks have benefited from a boom in domestic lending as households have rushed to take on state-subsidised mortgages and corporate lending has soared....
...For Tomasz Wieladek, chief European economist at T Rowe Price, this reflects rising real wages “as higher household disposable income means consumers need to rely less on credit for their consumption”....
...With a higher proportion of households on longer-term fixed-rate deals the overall pass-through from interest rate rises to mortgage costs had slowed....
...Although mortgages are a substantial portion of household debt, mortgage debt service ratio is expected to only increase 4.5 per cent of household disposable income in 2025 from 4 per cent in 2022....
...Households with mortgages faced the highest annual inflation rate of any socio-economic group, at 6.3 per cent in December, reflecting rising mortgage interest payments....
...Households were “struggling desperately with sky-high mortgage, food and energy costs and sadly some are falling behind”, said Karen Noye, mortgage expert at Quilter....
...The data also showed a rise in household deposits with banks and building societies, driven by flows into time deposit accounts that usually pay higher interests....
...Specification: Economic indicators: inflation Click to read the article below and then answer the questions: UK inflation highest for mortgaged households Why did UK households with mortgages experience...
...Respondents to the latest Financial Times survey of economists said between 1.5mn and 2mn households renewing mortgages would face much higher costs....
...“The sharp increase in credit card rates and the resumption of student loan payments will drive non-mortgage household debt service to historic highs in 2024,” said Olu Sonola, head of US regional economics...
...mortgage costs....
International Edition