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...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 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....
...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....
...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...
...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 data comes against a backdrop of recent volatility in the mortgage market. Home loan rates peaked in the summer of 2023 before declining sharply at the end of last 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....
...inflation versus food-away-from-home getting back to its historical dynamic, which means some of those consumers are just choosing to eat at home more often . . ....
...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...
...Brexit and mortgage regulatory changes also played a role, according to Richard Donnell, executive director at property consultancy Houseful....
...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....
...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....
...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....
...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....
...“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....
...Existing US home sales in November ticked higher than economists expected, with more buyers entering the market as mortgage rates softened....
...As mortgage rates hover around 6 per cent, nearly 70 per cent of Manhattan homes purchased in the final quarter of 2023 were bought without a mortgage, according to Pamela Liebman, the chief executive of...
...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....
...She’s actually got two mortgages on her property. She’s a first-time buyer who’s then bought a bigger home....
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