Mortgage rates ‘lowest in over a decade’
Mortgage rates ‘lowest in over a decade’
There is some good news for those considering buying their first home as mortgage payments are now at their most affordable for 14 years, according to new figures from Halifax.
In some areas such as in Scotland and northern England, repayments take up less than 20% of disposable income.
Nationally, typical mortgage payments were 27% of disposable income in the last quarter of 2011. This is the lowest ratio since the first quarter of 1997 when a figure of 26% was recorded, and is still far below the average over the last 27 years of 37%.
The research also found a clear divide between the north and south of the country, with the most expensive areas found in London and the South East.
The London borough of Kensington and Chelsea was found to be the least affordable area, with 78% of disposable income being spent on mortgage payments.
Housing economist for Halifax, Martin Ellis, said that falls in house
January 16, 2012 No Comments
mortgage rates
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December 16, 2011 No Comments
Average Mortgage Rates in Livonia Today – in Livonia, MI | Livonia Banking Rates
You have most likely been hearing a lot about Livonia mortgage rates as of late, as news of new interest rate lows continues. If you’re in the market for a new home and will need financing, now is one of the best times to obtain a Livonia mortgage. However, it can be difficult to decide which rates in the city are really the best, and which lenders are providing mortgage loans at a higher-than-average rate.
That’s why being aware of the average mortgage rates in Livonia will help you determine which offers are truly competitive for the region, and which you should pass up. Below, we’ve compiled a list of the average Livonia mortgage rates for several home loan types, including both fixed rate and ARMs.
Average Fixed Mortgage Rates in Livonia
15-Year Fixed: 3.31%
30-Year Fixed: 4.13%
Average ARM Interest Rates in Livonia
3/1 ARM: 3.07%
5/1 ARM: 2.89%
Please note these interest rate averages are based on data as of October 1, 2011, but are subject to change at any time. You may
November 23, 2011 No Comments
Post Office slashes rates for first-time buyers
First-time buyers struggling to secure a home loan could see their prospects of getting a cheaper mortgage improve, after the Post Office cut its rates on a range of “first-time buyer friendly” products yesterday.
The move, which could see competition increase in the 90% loan-to-value (LTV) market, means that potential buyers with a 10% deposit can now take out a five-year fixed rate mortgage at 4.99% and a three-year fix at 4.75% for a fee of £995.
The Post Office also announced that it intends to pull out of the buy-to-let market to focus on first-time buyers, movers and remortgages.
Borrowers have benefited from a number of rate cuts in the mortgage market over recent months after forecasts that the Bank of England base rate is likely to remain at 0.5% until 2013.
There has even been speculation that the prospect of cutting rates to 0.25% was raised at the last monthly meeting of the Bank’s Monetary Policy Committee.
Paul Cook, head of mortgages at the Post Office, said: “Many of the five-year fixes that are heavily advertised are only… Continue To Read This Post..
September 22, 2011 No Comments
Faster insulation rates needed for UK property
Faster insulation rates needed for UK property
More needs to be done by the UK’s six major energy suppliers if they are to meet mandatory energy efficiency targets, the Government has warned.
Recent statistics showed that nearly 300,000 insulation measures, including loft and cavity wall lagging, has been installed in UK property over the last three months.
However, the Government has said that energy firms must double the rate at which they are insulating Britain’s homes as more than two-fifths of properties are still lacking adequate loft insulation. A similar proportion of homes that have cavity walls have also not had them insulated.
Some 58% of homes now have adequate loft insulation in place and the figure is the same for the number of houses with cavity walls that have wall insulation, according to the Department of Energy and Climate Change.
Chris Huhne, Secretary of State for Energy and Climate Change, said that homeowners can save 100 a year on rising heating bills by property lagging
September 8, 2011 No Comments
Best Mortgage Rates
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The Best Mortgage Rate Latest rates!
August 31, 2011 No Comments
Best Mortgage Rates
It is essential to know about the annual percentage charges that it would be easiest required to pay the lenders along with the compulsory points to
August 30, 2011 No Comments