With Britain expecting a general election later this year, the ruling Conservatives and Labour opposition are drawing up rival plans to help a key demographic: aspiring homeowners. An affordability crisis linked to decades of underinvestment in new homes — plus years of rock-bottom interest rates that pushed up property values — have piled pressure on
February mortgage rate forecast Everyone is impatient for mortgage rates to go down. Folks might have to wait at least another month because mortgage rates might not change much in February. Market observers expect mortgage rates to fall this year, but not until the Federal Reserve signals that it’s ready to relax monetary policy. The
Key Takeaways Homebuilders may partner with preferred lenders to offer competitive mortgage rates, closing cost credits, sales price reductions or other incentives. A builder’s incentives may be offset by higher fees and interest rates from the preferred lender, which can make the deal less attractive. You’re not required to use your builder’s preferred lender, so
Fannie Mae has announced an update to its HomeReady mortgage product that could save certain borrowers thousands of dollars on upfront homebuying costs – but this offer is only available for a limited time. In a lender letter issued Wednesday, the mortgage giant unveiled a temporary $2,500 credit for low-income homebuyers that can be used
Crunching the numbers to excel in the purchase market “Currently, we have 50 million people in this country between 30 and 40,” Fratantoni said. “We generate about a million and a half households a year. By comparison, from 2000 to 2015, it was closer to a million a year. So we’re generating 50% more households
A New York man was fined more than $1 million and another has been imprisoned for orchestrating an elaborate fraud they used to acquire $50 million in mortgage loans and build an extensive residential real estate portfolio across Hartford. Federal prosecutors said the “sheer volume of false documents and material misrepresentations’’ concocted to deceive lenders
Almost three quarters (74 per cent) of buy-to-let landlords feel confident about the performance of the property market over the next 12 months, research from The Mortgage Lender has revealed. The research found that confidence in the market’s future peaked for those landlords that predominantly owned homes of multiple occupancy (86 per cent). This was
Reductions in tax relief on buy-to-let mortgages, which were phased in between 2017 and 2020, have amplified the impact of higher rates on landlords who own properties in their own names. The new rules mean landlords are no longer able to deduct all of their mortgage interest as a business expense when they calculate their
More than 10,000 homeowners are at risk of becoming mortgage prisoners as a negative equity “time bomb” looms, new information suggests. The number of houses purchased with a loan worth 95pc or more of the value of the property doubled last year, according to figures released under a Freedom of Information request. These homes are most
The average long-term U.S. mortgage rate retreated for the ninth straight week to reach its lowest level since May. The average rate on a 30-year mortgage dipped to 6.61 percent from 6.67 percent last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.42 percent. Borrowing costs on 15-year fixed-rate mortgages,