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...Large commercial housebuilders, which build the bulk of new homes, have cut their output by about a quarter as buyers are put off by high mortgage rates....
...Mortgage approvals hit an 18-month high in March, the Bank of England reported last week, in a further sign of buyers returning to the market....
...From the roof of the Metropolitan Museum, it waves its bronze-and-steel tentacles genially at the humans below. One limb provides a perch for a tiny bird stretching its wings....
...Home prices in big US cities steadied in December, with the high mortgage rate environment generally tempering demand in most large metropolitan areas....
...This mortgage rate lock-in led to a 57% reduction in home sales with fixed-rate mortgages in 2023Q4 and prevented 1.33 million sales between 2022Q2 and 2023Q4....
...Home prices have risen more than 70 per cent since then, so why have home equity loans halved? After the financial crisis, banks have actively taken down their mortgage exposure....
...The average 30-year mortgage rate is hovering around its highest level in 23 years, tracking the Fed’s post-pandemic policy tightening cycle....
...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....
...Porto Alegre, which is home to 1.3mn people, has been one of the places worst affected after the Guaíba river broke its banks and flooded the city....
...Don’t Forget to Call Your Mother, the Metropolitan Museum’s latest love letter to the mnemonic power of photography, amps up that effect — or tries to....
...They are now closer to the 2016-19 monthly average of 66,000, signalling a normalisation in the market despite a steady rise in home loan costs over recent months....
...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.”...
...“The traditional UK trend in home buying is that customers move up the ladder over the course of their lives. The European trend is that people live in their homes for longer....
...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....
...The growing demand for mortgages that usually characterises the spring home buying season could delay approvals....
...A forward-looking indicator of US home sales jumped to the highest level in a year in March, in a sign that low inventory is pushing up housing demand despite high mortgage rates....
...“The home secretary will undoubtedly hold Sir Mark, the Metropolitan Police commissioner, to account for what happened,” he said....
...Sales of previously built homes in the US declined in March, as persistently high mortgage rates continue to constrain buying activity....
...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...
...Foxtons struck an upbeat tone on home sales on Thursday due to easing mortgage rates, as strong lettings pushed the estate agent’s earnings above expectations last year....
...Home prices in big US cities rose more than expected in February on a shortage of housing inventory, even as high borrowing costs reined in monthly gains....
...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....
...Sales of new single-family homes in March unexpectedly increased to the highest level since September, as the lack of housing inventory in the US continues to boost demand for new builds despite high mortgage...
...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....
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