Nationwide Building Society, the U.K.’s largest customer-owned lender, said gross residential mortgage lending dropped 37 percent to 12 billion pounds ($17.2 billion) in the last fiscal year as housing transactions slumped.
British house prices will be “flat” this year, the Swindon, England-based company said in a statement today. Nationwide’s residential mortgage customers repaid 3.6 billion pounds [...]
Posts Tagged ‘financial’
Nationwide Home Loans Fall 37% on Contracting British Market
May 26th, 2010 by Mortgage Writer
Tags: borrower, economy, financial, financial crisis, home loans, homeowners, interest rates, mortgage lenders, mortgage lending, mortgage market
more...Hey, Mortgage Industry: Nobody Trusts You
May 25th, 2010 by Mortgage Writer
The mortgage banking industry knows it’s not the most popular kid on the block right now, but it tried to put a positive face on the state of the industry during a convention in New York on Monday.
The session kicked off with a feel-good video with uplifting messages such as “A Noble Profession” that flashed [...]
Tags: fannie mae, financial, Freddie Mac, global economy, homeowners, investors, Mortgage Bankers, Mortgage Bankers Association, mortgage market, mortgage rates, US Economy
Mortgage loan modification and credit scores
May 24th, 2010 by Mortgage Writer
A mortgage loan modification can prevent foreclosure but inevitably will damage your credit.
Homeowners struggling to make their house payments may seek a mortgage loan modification in hopes of avoiding foreclosure and protecting their credit score. However, loan modifications also take a toll on those scores.
In theory, a loan modification should be a mutually acceptable solution [...]
Tags: borrowers, credit, economy, financial, foreclosures, homeowners, investors, lenders, mortgage debt, mortgage loans, mortgage payments, US Economy
Tax-credit deadline passes, mortgage applications swoon
May 23rd, 2010 by Mortgage Writer
You didn’t need to wait long for a sign of what the end of the home buyer tax credit program means: Mortgage applications by buyers fell 27 percent last week — following a 10 percent drop the week before — to their lowest level in 13 years.
“The data continue to suggest that the tax credit [...]
Tags: economy, financial, homebuyers, homeowners, interest rates, mortgage, Mortgage Bankers Association, mortgage payments, mortgage rates, tax credit, treasurys, US Economy
Mortgage Rates Continue Slide
May 21st, 2010 by Mortgage Writer
Mortgage rates declined again this week, with many reaching the lowest levels in years, according to Freddie Mac’s weekly survey of mortgage rates.
They have followed U.S. Treasury yields lower over the past several weeks as investor concern builds about Europe’s economic future. The benchmark 10-year yield touched a 5 1/2-month low Thursday.
Freddie Mac Chief Economist [...]
Tags: economic recovery, economy, european stocks, financial, Freddie Mac, global economy, interest rates, investors, mortgage market, mortgage rates, treasurys, US Economy
Most Mortgage Rates Hit Lowest Levels In Years -Freddie
May 20th, 2010 by Mortgage Writer
Mortgage rates declined again this week, deepening from last week’s levels that were already the lowest of 2010, with many reaching the lowest levels in years, according to Freddie Mac’s (FRE) weekly survey of mortgage rates.
They have followed U.S. Treasury yields lower the past several weeks as investor concern builds about Europe’s economic future. The [...]
Tags: banks, business, economic recovery, economy, europe, financial, Freddie Mac, investors, mortgage, mortgage rates, treasury
Mortgage Default Rates Lower as Consumers Choose Property Over Plastic
May 19th, 2010 by Mortgage Writer
The monthly default rates for first and second mortgages fell in April, but climbed for bank card loans for the third consecutive month, according to the latest data from credit-rating agency Standard & Poor’s and national credit bureau Experian.
Defaulting balances of bank card loans rose to 9.1% in April, from 8.9% in March and from [...]
Tags: banks, borrowers, business, economy, financial, housing market, interest rates, investors, loans, mortgage lenders, mortgage rates, stock markets, US Economy
Greece’s debt crisis pushes down mortgage rates here
May 18th, 2010 by Mortgage Writer
Many consumers may not be able to take advantage.
Blame Greece’s debt crisis for contributing to the recent drop in your stock portfolio, but give it credit for something that could benefit consumers: lower mortgage rates.
Last week, rates on fixed-rate mortgages fell to their lowest level this year, while rates on adjustable-rate loans dipped to a [...]
Tags: economic recovery, economy, federal reserve, financial, financial crisis, Freddie Mac, interest rates, investors, mortgage, mortgage rates, US Economy
Mortgage Advance Boost For First-Time Buyers
May 17th, 2010 by Mortgage Writer
Housing market activity gained pace in March as the number of mortgages offered to home buyers rose by 25%.
Around 45,000 mortgages were granted for house purchase during the month, up from 36,000 in February, according to the Council of Mortgage Lenders (CML).
The value of the loans offered in March added up to £6.3bn - a [...]
Tags: economic recovery, economy, financial, home loans, homebuyers, housing market, mortgage, mortgage lenders, mortgage rates, mortgages, US Economy
Hung Parliament Means Fix Mortgage Rate Now!
May 15th, 2010 by Mortgage Writer
Despite a small recovery in the housing market over the months prior to the general election, many industry experts are warning of a sharp halt to this as a result of a hung Parliament. A decisive result either way would have been a much better result for the property market as there would be more [...]
Tags: business, economic recovery, economy, financial, homebuyers, housing market, investors, money, mortgage, mortgage market, mortgage rates, sellers, US Economy
Fatal error: Cannot redeclare pagenavi_textdomain() (previously declared in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php:34) in /home/mortlast/public_html/wp-content/themes/front-page/wp-pagenavi.php on line 35