Tag Archives: rise

New study reveals the rise of home loan hostages

Three quarters of Australian borrowers are now at risk of becoming home loan hostages due to their lifestyle and financial decisions, new research from mozo.com.au has found. “Home loan customers might be unaware that when they go to refinance their home loan with a new lender, they are assessed as though they are a new […]

Mortgage rates rise for fourth straight week – reaction pours in

Total Interest Paid on a $500,000 Mortgage: – May 2021: $220,000 – NOW: $710,000 In 18 months, mortgage rates have risen from 2.5% to 7.1%. Further, the housing affordability index is officially below 2008 levels. The well overdue housing market correction is on its way. — The Kobeissi Letter (.KobeissiLetter) March 2, 2023 […]

Two-year fixes static; three- and 10-year fixes rise, Moneyfacts data shows – Mortgage Finance Gazette

Moneyfacts has revealed that the average rate for a two-year fix remained at 5.33% this week. The average 10-year fix gained six basis points from 4.97% to 5.03%. The average three-year fix gained three basis points, moving to 5.19%, and the average five-year fix fell by two basis points to come to 4.98%. Two-year fixes […]

NatWest sees profits rise sharply in 2022 – Mortgage Finance Gazette

The report details the bank as seeing mortgage growth of £14.4bn in the year to December 2022, powering a net loan increase of £15.4bn. It adds that gross new mortgage lending came to £41.1bn, comprising a flow share of ‘around’ 13%. A total of £2.9bn of mortgage loans completed in 2022 were for green mortgages, […]

Mortgage delinquencies rise as economy stumbles

Mortgage delinquencies increased in the fourth quarter from their record lows as borrowers became susceptible to a sinking U.S. economy, the Mortgage Bankers Association said. Its National Delinquency Survey reported 3.96% of all outstanding mortgages on a seasonally adjusted basis were not current on their payments in the three months ended Dec. 31, 2022. This […]

Prime London new buyers and tenant numbers rise, yields push higher: Knight Frank  

The number of new prospective buyers registering in the first three weeks of the year was 6% higher than in 2020, during the so-called ‘Boris Bounce’ that followed the December 2019 general election, says the estate agent’s Prime London January residential sales and lettings reports.   It adds that the only time more new buyers […]

Mortgage demand picks up as seller concessions rise

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. And to close deals, sellers are increasingly coming to the table with concessions and rate buydowns.  “I’ve had five people . me in the last week or so to talk about buying a new home, which is much […]

Mortgage demand plunges, as interest rates rise

A ‘For Sale’ sign stands in a vacant lot near new homes in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images After a brief reprieve in the first half of December, mortgage interest rates shot up again to end the year, weighing on mortgage demand. Mortgage application volume was down 13.2% at the end […]

The Weekly: Housing market cools off as mortgage rates rise

News 6 morning anchor Justin Warmoth sat down with Kristin Mazza, a real estate consultant for Keller Williams Heritage Realty, and Julia Bell, a branch leader at Movement Mortgage, on “The Weekly” to learn more about the market and what higher interest rates mean for prospective home buyers. source orlando mortgage rate

Quickest rise in newly drawn mortgage rate since Dec, records BoE

Increasing by 29 basis points, the central bank puts September’s rate at 2.84%. Meanwhile, for outstanding mortgages, rates moved up 7 basis points, to 2.24%. A month ago this was 2.17%. The BoE also points to households shifting more money into bank and building society deposits in September, with £8.1bn being placed with institutions, which […]