Adam Shell USA TODAY Published 5:52 PM EDT Oct 5, 2018 It's not just short-term interest rate hikes from the Federal Reserve that are affecting the personal finances of Americans. The recent spike in the yield of the 10-year Treasury note to nearly 3.25 percent -- its highest level since the spring of 2011 -- will also have an impact on borrowing costs and investment portfolios. The yield on the key U.S. government bond, whose movements are determined by investors and traders based on drivers like economic growth and inflation, influences the prices of things -- from fixed-rate mortgages to stocks. The recent surge in the so-called "long-term" bond is catching the attention of Wall Street economists and money managers. Why? It's the latest sign that the nearly decade-long era of low borrowing costs is coming to a close as the economy gains steam. Many Americans will start feeling an additional financial pinch … [Read more...] about 10-year Treasury rate: How yield’s 7-year high pinches Americans
30 year home equity loan
The future of the Help to Buy scheme (also known as an equity loan) has been called in to question this week after it was revealed that almost a fifth of people who took the loans were upgrading to a larger home, with some people on six-figure salaries using Government funds to buy their property. Critics say the scheme has artificially inflated house prices and house builders’ profits, at a cost to the Government of £9 billion – and counting. But supporters point out that Help to Buy has been used by almost 170,000 people since it launched in 2013 and housebuilders are pressuring the Government to continue to fund it beyond 2021. Stewart Baseley, executive chairman of the Home Builders Federation said: “Housebuilders continue to invest in the land, materials and people needed to deliver furthers increases in supply, confident in the demand Help to Buy is underpinning. “Certainty moving forward is now required, to enable increases in housing supply, and the … [Read more...] about Are Help to Buy equity loans about to be scrapped? Here’s what you need to know
Business By Howard Mustoe Business reporter 7 August 2018 Share this with Facebook Share this with Messenger Share this with Twitter Share this with Email Share this with Facebook Share this with WhatsApp Share this with Messenger Share this with Twitter Share Share this with These are external links and will open in a new window Email Share this with Email Facebook Share this with Facebook Messenger Share this with Messenger Messenger Share this with Messenger Twitter Share this with Twitter Pinterest Share this with Pinterest WhatsApp Share this with WhatsApp LinkedIn Share this with LinkedIn Copy this link https://www.bbc.co.uk/news/business-44992836 Read more about sharing. These are external links and will open in a new window Close share panel UK pension companies may be harbouring billions of pounds of losses from home equity release loans, … [Read more...] about Home equity loans may cost firms billions
A LIFESTYLE and fashion blogger has revealed how she got on to the property ladder at just 23 - without any help from the bank of mum and dad. Jade Vanriel, who's now 25, from Essex, bought her two bedroom flat two years ago after putting down a £30,000 deposit. Single first-time buyers face saving for over a DECADE for a 15 per cent deposit, and up to 17 years for Londoners. So it's no wonder that around of third of Brits (31 per cent) reckon the only way they'll be able to afford to do it is with a partner, according to Skipton Building Society survey. Jade managed to defy the odds and saved for the 20 per cent deposit while she was studying law at university, but it meant cutting back on partying, taxis and clothes. "I stopped spending on coffee and lunches and began bringing in all my meals - it really does add up," Jade said in a money saving video on her YouTube channel. "See if you can limit your clothes buying and going out partying and eating,- sacrifice your lifestyle … [Read more...] about Blogger bought home at 23 WITHOUT help of bank of mum and dad – she reveals how you can do it too
Housing Minister Phil Twyford will announce the eligibility criteria for KiwiBuild homes on Wednesday. The question everyone wants to know: Who can afford one? A source has confirmed to Newshub the Government will introduce income caps, despite the Labour Party originally promising there would be none. Housing Minister Phil Twyford refused to confirm or deny. Housing Strategist Leonie Freeman told The AM Show on Wednesday the Government "originally hadn't had any income caps but it looks like they're going to introduce it. They're going to probably be something like $120,000 for a single person and $180,000 cap limit income for a couple." Exclusive: KiwiBuild income caps to be introduced No means testing for KiwiBuild homes First KiwiBuild houses announced But $180,000 is a high salary and only a small amount of the population earns that much. That means many people won't be able to afford the 100,000 'affordable' homes. However, Ms Freeman says you'd need that sort of income … [Read more...] about Who will be able to afford a KiwiBuild home?