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...The pandemic taught me that none of us knows what will happen in the future.”...
...More than 90 per cent of UK borrowers take out a fixed-rate mortgage for five years or less. Long-term fixed-rate mortgages are the norm in the US....
...Existing home sales, which make up most of the US housing market, totalled just 4.09mn units in 2023, a 30-year low. Yet, median home prices hit a record high of $389,800....
...The jump in interest rates to the highest levels in decades has led to a big increase in mortgage scams, according to banks and regulators....
...The good news is that US mortgage rates have been falling this month, and remain well below peaks levels from late last year....
...The fastest-growing part of its balance sheet is investment in renewable energy and Hunt said 45 per cent of all mortgages last year were lower rate loans for more energy efficient homes....
...According to Zillow, the average home price in the US is now nearly $348,000....
...of a minority) start to feel that sweet, sweet interest-rate relief: We wrote about mortgages a bit last summer, looking at how the shifting composition of UK home borrowing to (mainly 5-year) fixed terms...
...Basically, I defined what was wrong with mortgage markets. These “modified mortgages” entailed you buying the home, borrowing the money and paying 1 per cent on the mortgage for three years....
...She’s actually got two mortgages on her property. She’s a first-time buyer who’s then bought a bigger home....
...And agents stopped showing us homes that were totally unsuitable,” says Koutoulas. Rising rents also increased the couple’s focus on finding a suitable home to buy....
...Most Fed officials support reducing the central bank’s mortgage-backed securities holdings to zero, to avoid distorting the mortgage market....
...Since the rise of working from home during the coronavirus pandemic, US offices were “under demolished”, he said, with too many undesirable old buildings....
...At the end of 2023, about 70 per cent of mortgage holders had rates more than 3 percentage points below the market rate....
...Will McBride, vice-president of federal tax policy at the Tax Foundation, a US think-tank, says that inheritance tax “deters savings, investment, work — all the things that we have long understood contribute...
...The cost of homes soared in many countries during the pandemic, but high mortgage rates have led to a significant slowdown in house price growth in a number of countries....
...So new homebuyers are grappling with higher mortgage rates, high home prices and a lack of homes to buy....
...Take a break from the news V-necks have been verboten for as long as most of us can remember, writes Teo van den Broeke....
...A similar levitation act is visible in the US housing market; despite higher mortgages rates, prices have risen steadily and faster than in other developed nations....
...Already, there has been an uptick in new mortgage applications and pending home sales....
...Subsidised mortgages accounted for more than half of the new home loans....
...With US rates above 5 per cent, refinancing these mortgages is an expensive proposition at best, and at worst is simply not feasible....
...The Brooklyn housing market was cooled last year by high mortgage rates....
...Given that they comprise bundles of home loans, mortgage-backed securities move to roughly the same macroeconomic impulses as Treasuries....
...Net mortgage lending rose €12bn last month, the biggest monthly increase for more than a year, largely driven by a jump in French home loans....
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