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Thursday, September 11
US mortgage rates weekly drop most in over 28 yrs
by
bewarethesharks
on Thu 11 Sep 2008 15:41 BST
Interest rates on U.S. 30-year fixed-rate mortgages fell by 0.42 percentage point in the latest week, the biggest weekly drop in more than 28 years, according to a survey released on Thursday by home funding company Freddie Mac. The drop, which drove 30-year fixed rates to an almost five-month low, ... more » Monday, September 8
Lender HSBC cuts mortgage rates
by
bewarethesharks
on Mon 08 Sep 2008 10:49 BST
Bank HSBC said it is lowering interest rates for its fixed-rate mortgage loans in response to a fall in funding costs. HSBC, the country's biggest bank by market capitalisation, is from Monday cutting its standard two, three and five year fixed-rate loans by 0.56 percentage point to 6.27 percent. The ... more » Wednesday, August 27
Mortgage lending figures give some hope
by
bewarethesharks
on Wed 27 Aug 2008 16:29 BST
The number of new mortgages agreed by leading banks edged higher last month, raising hopes that the worst of the drought in the home-loans market may have passed. A total of 22,448 loans for house purchase, rather than remortgaging, were approved by banks during July. Although this was still a ... more » Wednesday, August 20
Cities best for student landlords
by
bewarethesharks
on Wed 20 Aug 2008 16:04 BST
The city of Durham offers the best returns to landlords investing in student property with annual yields of nearly 14 per cent, research showed today. Despite Durham having one of the smallest student populations in the UK, the city's relatively low house prices combined with its high rents enables landlords ... more » Friday, August 15
Councils push to become mortgage lenders
by
bewarethesharks
on Fri 15 Aug 2008 15:50 BST
NLGN has been campaigning for local authorities to be able to offer financial support to those affected by the credit crunch. It hopes this would stave off repossessions and evictions, prop up the housing market to prevent remortgage difficulties and support first-time buyers to buy locally. Currently, the NLGN is ... more »
Tenants sitting pretty as rents fall
by
bewarethesharks
on Fri 15 Aug 2008 15:44 BST
Rents will fall by up to 10% this year, according to some of Britain's biggest letting agents, as a wave of properties that owners and developers can't sell have started to flood the rental market. The fall in rents will bring welcome relief to tenants but will squeeze buy-to-let landlords ... more » Wednesday, August 13
Credit crisis halfway over "at best"
by
bewarethesharks
on Wed 13 Aug 2008 15:18 BST
A year-long credit crisis may be only halfway over and defaults of prime mortgages and problems at U.S. bond insurers are expected to exert a drag on future bank earnings, Standard & Poor's said on Wednesday.
Defaults and late payments for mortgages known as Alt-A securities and prime mortgages are ... more » Tuesday, August 5
Chancellor considering stamp duty deferment plan
by
bewarethesharks
on Tue 05 Aug 2008 14:30 BST
Alistair Darling, the chancellor, is considering a plan to allow people to defer paying stamp duty when they buy a home. He is committed to bringing forward proposals later this year to kick-start the flagging housing market, and one option would be to allow buyers to put off paying stamp ... more » Friday, August 1
Picturesque second homes come onto market as property prices fall
by
bewarethesharks
on Fri 01 Aug 2008 13:32 BST
Slumping house prices are rejuvenating the property market in picturesque locations as city dwellers sell off their second homes, according to estate agents. In recent years houses in many fashionable rural and coastal areas have become so popular as investments that very few changed hands. But the economic downturn over ... more » Wednesday, July 30
HSBC latest to cut mortgage rates
by
bewarethesharks
on Wed 30 Jul 2008 13:13 BST
HSBC has become the latest mortgage lender to cut its rates following a drop in wholesale funding costs. The group is reducing its two-year fixed rate mortgage by 0.31%, while longer term fixed rate loans are being cut by 0.16%. It is also cutting the booking fee ... more » Monday, July 28
Spanish house sales dive by 34%
by
bewarethesharks
on Mon 28 Jul 2008 13:05 BST
The value of Spanish coastal properties, home to thousands of British expatriates, are heading for freefall, figures suggestA further nail has been hammered into the coffin of the Spanish property boom as figures revealed a one-third fall in house sales and analysts predicted a slump in prices. The statistics ... more » Saturday, July 26
Rich look abroad for buy-to-let loans
by
bewarethesharks
on Sat 26 Jul 2008 13:16 BST
Wealthy buy-to-let property investors are bypassing mainstream UK lenders to take advantage of the more favourable terms provided by some foreign banks. Mortgage brokers said property buyers were preparing to re-enter the housing market as they felt prices did not have too much further to fall. But investors looking for ... more » Sunday, June 8
Banks are only as safe as houses
by
bewarethesharks
on Sun 08 Jun 2008 16:49 BST
As mortgage lenders struggle to shore up their balance sheets, a new crisis may be on the way from the buy-to-let market House prices are already falling by more than 25 per cent a year. That is the figure the experts at M&G have come up with by extrapolating the ... more » Thursday, June 5
Abbey increases mortgage rates and Egg quits mortgage business
by
bewarethesharks
on Thu 05 Jun 2008 14:44 BST
Wednesday, June 4
Bank of England unlikely to cut interest rate, despite pleas
by
bewarethesharks
on Wed 04 Jun 2008 17:43 BST
Homeowners face further worry today as the Bank of England is set to resist calls for a cut in interest rates, despite a fall in house prices and mounting evidence of a sharp slowdown in the economy. The Bank is expected to decide that rising inflation means that it must ... more » Tuesday, June 3
Mortgages: Nationwide raises rates
by
bewarethesharks
on Tue 03 Jun 2008 16:39 BST
Nationwide building society announced today it was increasing the cost of its fixed-rate mortgages by up to 0.3%. The changes, which come into force tomorrow, wipe out some of the rate reductions made by the lender last month. The group is increasing the rate of its best two-year fixed-rate mortgage ... more » Saturday, May 31
Credit crunch sees global property prices tumbling
by
bewarethesharks
on Sat 31 May 2008 18:08 BST
From The world's three biggest financial powerhouses, the US, Japan and Germany, have all experienced negative or zero growth in ... more » Friday, May 30
Negative equity fears soar after record slump in house prices
by
bewarethesharks
on Fri 30 May 2008 19:05 BST
Thousands of homeowners were plunged into negative equity this month as house prices slumped by £5,000. The cost of an average home fell by 2.5 per cent during May, the biggest monthly decline since records began in 1991, figures from the Nationwide Building Society show. House prices have fallen by ... more » Thursday, May 29
America's house prices are falling even faster than during the Great Depression
by
bewarethesharks
on Thu 29 May 2008 18:47 BST
AS HOUSE prices in Wednesday, May 28
House prices suffer record annual fall
by
bewarethesharks
on Wed 28 May 2008 18:44 BST
The gloom enveloping the The S&P/Case Shiller national house price index fell 14.1 per cent in the first quarter of this year, compared with the same period a year earlier, ... more » Tuesday, May 27
US house prices in sharpest fall for 20 years
by
bewarethesharks
on Tue 27 May 2008 19:40 BST
American house prices are collapsing almost five times as quickly as during the last Residential property values fell 14.4 per cent over the first quarter of 2008 compared with the same three months ... more » Sunday, May 25
House prices fall as buyers 'go on strike'
by
bewarethesharks
on Sun 25 May 2008 18:36 BST
House prices falls are accelerating as home buyers "go on strike", according to the latest analysis of the housing market. The average house is now worth 1.9 per cent less than a year ago, a report from Hometrack will say today. This is the largest fall recorded so far by ... more » Wednesday, May 21
UK buy-to-let market shut to 'short-term' players
by
bewarethesharks
on Wed 21 May 2008 14:30 BST
Specialist mortgage lender Paragon has indicated that the era of making a quick kill on the buy-to-let market is over, as the credit crunch makes the market tougher for speculative landlords. Chief executive Nigel Terrington said: "Short-term players - the type that buy off-plan in city centres - they are ... more » Thursday, May 15
Bank of England dashes hopes of interest rate cuts amid inflation threat
by
bewarethesharks
on Thu 15 May 2008 09:42 BST
Hopes of early relief for homeowners in the form of lower interest rates were dashed by the Bank of England today as it forecast inflation could reach 4pc in the months to come. Governor Mervyn King effectively signalled an extended period of stagflation, as the high interest rates needed to ... more » Wednesday, May 7
Cash injection has not cut cost of borrowing
by
bewarethesharks
on Wed 07 May 2008 15:37 BST
The Bank of England's £50 billion cash injection into the mortgage market has so far not made any difference to the cost of borrowing, the head of the UK's biggest building society said yesterday. Graham Beale, chief executive of Nationwide, told The Times that a response to the facility "has ... more » Tuesday, May 6
Odds of further rate cuts increase after Fed's latest moves
by
bewarethesharks
on Tue 06 May 2008 11:33 BST
The odds of further interest rate cuts increased after the Federal Reserve's latest moves, and after policy setter said financial market stress, tight credit and housing weakness was likely to continue over the next few quarters. July fed funds futures rose 0.05 points to 98.04, which implies a 16% chance ... more » Sunday, May 4
Washington must do more to help housing market
by
bewarethesharks
on Sun 04 May 2008 15:23 BST
The government must actively intervene in the domestic housing market to fix the subprime mortgage problems that interest rate cuts and tax rebates alone cannot, a Federal Housing Finance Board official said on Sunday.
Allan Mendelowitz, a member of the Board of Directors of the FHFB -- a regulatory agency ... more » Thursday, May 1
Abbey trims some mortgage rates
by
bewarethesharks
on Thu 01 May 2008 11:11 BST
Abbey, owned by Spain's Santander is trimming some fixed and flexible mortgage rates as it tries to lure new customers in the face of a credit crisis and deteriorating outlook that have seen rivals retreat.
Abbey said on Thursday it would cut its two-year fixed-rate mortgage deals by 0.11 percentage ... more » Wednesday, April 30
Fed cuts key rate to 2% but urges caution over inflation
by
bewarethesharks
on Wed 30 Apr 2008 15:53 BST
The US central bank cut interest rates last night for the seventh time since last summer as it sought to combat the impact of a collapsing housing market and the credit crunch on the world's biggest economy. The Federal Reserve's open market committee voted unanimously for a quarter-point cut in ... more »
US economy 'just keeps its head above water'
by
bewarethesharks
on Wed 30 Apr 2008 14:30 BST
The US economy grew 0.6% in the first three months of the year as an increase in inventories compensated for weaker consumer spending and a deteriorating housing market. Despite beating analysts expectations, the Commerce Department's report shows a widespread weakening that many analysts fear will lead to a recession. However, ... more » Tuesday, April 29
'No sign of a bottom' in US property prices
by
bewarethesharks
on Tue 29 Apr 2008 14:37 BST
More worries over the credit crunch arrived today as 17 out of 20 US cities reported record annual declines in house prices, a survey release today showed. Standard & Poor's/Case Shiller Index, which tracks 20 of the largest housing markets, said prices fell 2.6% to 175.94 in February from January, ... more » Saturday, April 26
Rugby players feeling the crunch as property investments tumble
by
bewarethesharks
on Sat 26 Apr 2008 14:33 BST
Rugby players are the most robust of sportsmen, well able to withstand a battering on the field that would shatter the body and spirit of lesser mortals. But some of the game’s finest players have taken a hit in the property market hard enough to make even the stoutest second-row ... more » |
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