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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....
...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....
...Sales of previously built homes in the US declined in March, as persistently high mortgage rates continue to constrain buying activity....
...The index, which tracks the proportion of lenders reporting an increase in demand for home loans versus those reporting a decrease, rose to 35.9 in the first quarter, according to the Bank of England’s quarterly...
...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....
...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...
...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 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....
...The average two-year mortgage with 60 per cent loan to value was 4.62 per cent in February, according to the central bank....
...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....
...A number of UK lenders have announced mortgage rate increases in a sign that the race towards more competitive offers is slowing, as the prospect fades of imminent Bank of England interest rate cuts....
...Brexit and mortgage regulatory changes also played a role, according to Richard Donnell, executive director at property consultancy Houseful....
...According to Zillow, the average home price in the US is now nearly $348,000....
...The sharp rise in mortgage costs as the Bank of England raised interest rates to tame inflation put the brakes on the property market, and imposed a particular strain on affordability for first-time buyers...
...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....
...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...
...Sales of previously built homes in the US jumped to the highest annual rate in a year, as easing mortgage rates and an increase in supply boosted buying....
...Home prices in big US cities steadied in December, with the high mortgage rate environment generally tempering demand in most large metropolitan areas....
...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....
...Equities in Hong Kong and China were muted on Tuesday despite the country’s central bank announcing a reduction to the lending rate for mortgages on the mainland....
...Existing US home sales in November ticked higher than economists expected, with more buyers entering the market as mortgage rates softened....
...Over the past few years UK policymakers have explored the idea of mortgages with an interest rate locked in for the term of the loan, along the lines of long-term products offered in countries like the US...
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