June 13th, 2008
Although many analysts had hoped that low rate mortgages would be returning, the latest announcements from several UK banks dashed those hopes. Instead of going down, the interest rates for low rate mortgages have climbed yet again. In addition, for those that are still able to find a low rate mortgage, the closing costs are going up quite a bit, making it unfeasible for many to even apply. This has resulted in an overall drop in applications and since low rate mortgages are increasingly hard to find, this trend is expected to continue for at least the next several months, if not longer.According to Drew Wotherspoon with John Charcol, “It’s not technically news, as we all knew it was coming, but lenders have begun the next round of re-pricing their fixed rates upwards. This week has so far seen Skipton withdrawing their rates, with news that their new ones will be priced higher, and Woolwich has moved all fixed rates up by at least 0.2%. Depressingly, for borrowers, it will not end here with others certain to follow, so the message for those who want a fixed rate is still the same - act now.”
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June 4th, 2008
Although many are seeking new low rate mortgages to help them avoid foreclosure, they are not having much luck according to financial experts. The current trends in the low rate mortgage market are very similar to the early 1990’s, which were a dark time indeed for the UK. Although many need a low rate mortgage, […]
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May 29th, 2008
Consumers are seeking new low rate mortgages in record numbers as they worry about their homes going into foreclosure. Millions are set to switch over to high variable rate this year and many are trying as hard as they can to secure a new low rate mortgage. However, for those with bad credit, this may […]
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May 24th, 2008
The fixed rate deals in the UK are at their highest level in a decent amount of time. Unfortunately, the low rate mortgages are disappearing, and there aren’t any signs of an immediate end.Even the smallest loans are being hit big, with rising interest rates and rising monthly payments. The low rate mortgages are becoming […]
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May 15th, 2008
HSBC managed to rock the UK mortgage industry when they announced a few weeks ago that they would be offering new low rate mortgages for those seeking a refinancing at their old rates. Competitors yelled foul but consumers rushed in to get their hands on a low rate mortgage. With most banks in the UK […]
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May 8th, 2008
Although the housing market in Utah has remained quite solid given the rest of the nation, a new problem is emerging among those who had initial low rate mortgages that will be transferring over to an adjustable rate. According to a recent report, numerous homeowners are now at risk for losing their homes and are […]
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April 30th, 2008
For consumers seeking a low rate mortgage, the news has not been good over the past few weeks. A new report released today revealed that approvals for low rate mortgages are at their lowest point since the early 1990’s and the trend is expected to continue for some time. In order to get a low […]
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April 23rd, 2008
One money analyst is stating that even though low rate mortgages are declining and the cost of living appears to be rising, all may not be as it seems. Even though the effects in the low rate mortgage market have been keenly felt, this analyst believes that there is still a lot of hype out […]
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April 16th, 2008
Prime Minister Gordon Brown met with a group of low rate mortgage lenders today, but his office has described the meeting as being routine. The prime minister is set to go on a trip to the United States and apparently wanted to meet with the low rate mortgage lenders before he left. It has been […]
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April 14th, 2008
Speaking at a banking group this week, Ben Bernanke, the US Federal Reserve Chairman commented on the current housing crisis, stating, “This situation calls for a vigorous response. Although lenders and servicers have scaled up their efforts and adopted a wider variety of loss-mitigation techniques, more can, and should be, done.” The crisis has made […]
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