Mortgage approvals hit highest level in two years as housing market recovers September 30, 2024 According to figures from the Bank of England, 64,900 mortgages were approved last month, up from 62,500 in July.
House prices rise at fastest pace in two years September 30, 2024 House prices have risen at their fastest pace in two years as easing mortgage rates shift the UK’s property market back into gear, new figures reveal. House prices across Britain rose by 3.2 per cent year on year in September and 0.7 per cent month on month, according to Nationwide’s house price index. “Mortgage rates [...]
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]
Rising buyer confidence boosts UK residential property market September 27, 2024 HMRC data shows that residential property transactions increased due to buyer confience and more mortgage options
Pound’s strength against the dollar risks ‘damage’ to UK’s competitiveness September 25, 2024 The pound reaching its highest level in over two years against the dollar risks damaging the international competitiveness of the UK, City analysts have warned. Sterling now sits at $1.34, its highest since February 2022 and far from its low point of $1.03 in the days after Liz Truss’ mini budget. However, while the strength [...]
Nationwide offers boost to first-time buyers as mortgage rates cut September 24, 2024 Nationwide announced that it will allow first-time buyers to borrow up to six times their income for a mortgage, becoming the first major lender to offer this significant boost.
Mortgage Advice Bureau shares jump as firm hails ‘growing market momentum’ September 24, 2024 Shares in Mortgage Advice Bureau jumped as much as 15 per cent on Tuesday morning after the financial services firm hailed "growing market momentum" after a "highly challenging 2023".
China unveils stimulus package in bid to kickstart flagging economy September 24, 2024 China has unveiled its largest set of economic stimulus measures since the pandemic in an attempt to kickstart growth in the world’s second largest economy. The People’s Bank of China (PBoC) announced today it had cut its benchmark interest rate by 50 basis points, as well as the amount banks must hold as cash reserves, [...]
Misery index gives cause for hope September 23, 2024 There is an unmistakable inverse correlation between emiserating factors like unemployment, wages and house prices and consumer confidence, but new analysis suggests things may be looking up, says James Sproule The cost-of-living crisis may be difficult to define or quantify, but it is easy enough to feel – and misery has been felt not just [...]
Two-year mortgage rates fall as markets brace for future interest rate cuts September 20, 2024 Two-year mortgage deals are becoming increasingly competitive as rates continue to fall faster than longer-term deals.