All Entries Tagged With: "economy"
UK house prices continue to slide in June: down 1.2%
UK house prices are still falling as the average price of a house by 1.2% in June. Many thought that house prices would be up again, as in May house prices were up by 1.2 percent, but that was not to be. According to reports from Right Move, the
Interest rates expected to rise as retail sales jump
On a previous article we told you that gross mortgage lending fell in the month of May, but also in the same month retail sales soared at its fastest rate in almost two decades, this has lead to speculation of an interest rate could go up. Although we know that food prices in the UK [...]
Fixed rate mortgages of 6% plus here for foreseeable future
If you are a homeowner and was about to start up a new fixed rate deal, then do not expect to see any fixed-rate term mortgages under 6%. It seems that deals of 6% plus are now here for the foreseeable future, this has been warned by
Federal Reserve Chairman Ben Bernanke no plans to raise interest rates
A Washington Post op-ed reported that Federal Reserve Chairman Ben Bernanke has no plans at the current time to raise interest rates however: he has said that he is more concerned about growth than inflation. Sources close to Bernanke, has said that
Recovery of house prices could take more than four years
If you thought that the fall in house prices was just a minor blip, then you had better think again. It seems as if we are in for a long bumpy ride, one that could take more than four years to recover from. House prices have now been falling for the
100% mortgage borrowers now facing negative equity
If you are one of the 23,200 borrowers who took out a 100% mortgage in the year up to March 31st, then the BBC has said that they could now be facing the prospect of negative equity. This is the result of falling house prices hitting the UK, so your
Industry changes making it harder for mortgage brokers to earn
Michael Dougherty, who is a managing partner at Choice Mortgage L.L.C, is just one of thousands of mortgage brokers who are still finding it hard to make a living with tougher lending changes. These tough changes were brought in to affect after the subprime-lending collapse, these changes had to be made for the industry to [...]
Mortgage brokers giving up licenses or quitting due to housing crisis
The housing crisis that is hitting the U.S. is having a massive affect for mortgage brokers, many are giving up their licenses, some are just walking away and quitting. The reason for this is due to underwriting standards rising as home sales have
Nationwide records biggest monthly fall in UK house prices
Nationwide have released some shocking figures which show that UK house prices have slid to 2.5% in the month of may, this is the biggest monthly drop that the Building society have ever recorded. This huge drop came as a surprise too many economists, as they were
Abbey has risen some fixed-rate mortgages week after announcing rate cuts
Customers of Abbey have been left a little confused as well as betrayed, as the bank owned by Santander have risen some fixed-rate mortgages by up-to 0.44 percent, this follows an increase in borrowing costs. Abbey Customers are