Mortgage rates to stay low as the eurozone flounders Independent.ie Hundreds of thousands of mortgage-holders, as well as small businesses, are set for a reprieve on anticipated higher repayments. https://www.independent.ie/business/brexit/mortgage-rates-to-stay-low-as-the-eurozone-flounders-37477298.html https://www.independent.ie/business/world/article37477318.ece/afa8a/AUTOCROP/h342/2015-08-09_bus_11801235_I2.JPG Email Hundreds of thousands of mortgage-holders, as well as small businesses, are set for a reprieve on anticipated higher repayments. A slow-down in the economies of countries in the eurozone means an interest rate rise next year is now less likely. Adding to the economic concerns, a no-deal Brexit would be likely to tip Britain into a recession that could last as long as the downturn that followed the global financial crisis, ratings agency Standard & Poor's has warned. That's bad news for Ireland, a key trading partner. The European Central Bank (ECB) has … [Read more...] about Mortgage rates to stay low as the eurozone flounders
Current home mortgage rates
With mortgage rates on the rise, sales of US existing homes dropped sharply last month to the lowest rate in three years, the National Association of Realtors said Friday. Home prices remained high and with a decline in homes on the market, many would-be homeowners are unable to purchase. NAR said home sales fell 3.4 percent in September after stagnating in August, the fifth decline in six months. Analysts had expected the rate to hold steady. The rate of 5.15 million, seasonally adjusted, means sales of single-family homes, townhomes, condominiums and co-ops are down 4.1 percent since September of last year. "This is the lowest existing home sales level since November 2015," NAR Chief Economist Lawrence Yun said in a statement. He blamed rising interest rates for "preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low." The median home price jumped 4.2 percent compared to 2017, to $258,100, the 79th month of … [Read more...] about US existing home sales drop in September as mortgage rates rise
Mortgage rates were on the rise again, hitting 8-year highs in the week ending 17th May, following the previous week’s hold, with mortgage applications continuing to fall through mid-May, May’s month-on-month applications looking weak following the 5% fall in April. While home owners have found support from the current economic environment that has contributed to the tight labour market environment, rising borrowing costs have been joined by rising energy prices, with gas prices hitting 4-year highs ahead of the peak season for home buyers. A combination of strong demand and low inventories have seen the upward trend in mortgage rates have a limited impact on the housing sector to date, but with inflationary pressures building, mortgage rates on the rise and house prices also rising, the housing sector could be in for a surprise should rates continue to rise at pace seen through the first 5-months of the year, with mortgage rates heading towards the 5% range. The resumption … [Read more...] about U.S Mortgage Rates on the Move and It’s Going to Hurt
Buying into the American dream of homeownership is getting pricier. A confluence of factors has made for a seller's market across much of the country, with buyers already sidelined by limited supply and lofty prices. But this week they're confronting another hike in borrowing costs. "Rising mortgage rates are further squeezing affordability for would-be homebuyers that are already frustrated by limited inventory of available homes and the higher home prices that have resulted," Greg McBride, chief financial analyst at Bankrate.com, said in emailed comments. The ability to afford a home is becoming a bigger hurdle as increases in property values outrun growth in income and as interest rates climb. The benchmark used in setting rates for loans including home mortgages is the 10-year Treasury note, and on Wednesday it held near seven-year highs, just a tick below 3.1 percent. That's hiking borrowing costs for consumers, businesses and the government. For those looking to purchase a home, … [Read more...] about Ready to buy a home? Lock in your mortgage rate now
A number of the biggest lenders, including Lloyds, Santander, NatWest and Halifax, have increased mortgage rates in the past week ahead of an anticipated Bank Rate rise. Lloyds Bank has replaced its mortgage range with new deals. The lowest rate is now 2.02pc, based on a 60pc mortgage, which is 0.11 percentage points higher than before, according to Moneyfacts, the data firm. Halifax increased a selection of its two-year fixed deals by up to 0.36 percentage points. Three year mortgage rates rose by 0.3 percentage points. Reader Service: Compare the latest remortgage offers with our trusted partners L & C and ensure you get the best mortgage deal Santander has also pushed up its rates. Its two and five-year deals are now 1.44pc and 2.24pc respectively, based on 75pc mortgage, 0.05 percentage points higher than before. Its two-year mortgage, previously at 1.69pc, has been increased to 1.79pc. NatWest and Royal Bank … [Read more...] about Santander, NatWest and Barclays raise mortgage rates: where can I find a cheap deal?