Property boom sees investors return to the market, adding to the pain of first-home buyers
3 years, 6 months ago

Property boom sees investors return to the market, adding to the pain of first-home buyers

ABC  

It's a sunny Saturday morning in suburban Sydney and a nervous group of would-be buyers and onlookers watch as the price of a five bedroom brick house climbs higher and higher. Key points: Investors return to the property market after laying low during the global pandemic Banks cut investor rates to attract landlords Regulators are not expected to act anytime soon to cool the housing market Half of the eight registered bidders are investors. "As the interest rates have been dropping, and the yield rates are increasing that's just leading to an increased return for investors," Mr Dawson said. Number of lenders that have cut rates for investors Number of lenders that have hiked rates for investors Variable 19 6 1 year fixed 11 4 2 year fixed 17 4 3 year fixed 11 6 4 year fixed 0 12 5 year fixed 2 8 Ms Tindall acknowledged that's bad news for first-home buyers. "It seems like investors could be muscling in at the expense of first-home buyers and low-income earners who just don't have as much money as investors to compete at auctions," Ms Tindall said.

Market Property Interest Investors House Rates Buyers Newcastle House Prices Investor Fixed Ms Tindall Matt Chamberlain  adding  firsthome  tindall  investor  interest  sees  house  return  property  pain  market  buyers  rates  fixed  boom  investors

History of this topic

Trump may renew a housing fight that could rattle mortgage rates
3 weeks, 1 day ago

Trump may renew a housing fight that could rattle mortgage rates

CNN  

CNN — During his second term, President-elect Donald Trump is widely expected to privatize Fannie Mae and Freddie Mac, the mortgage giants that guarantee 70% of America’s mortgages. The government’s stake in the two mortgage giants could be valued at billions of dollars, meaning a spinoff would potentially net a big payday for the government and private investors in the …

Mortgage rates: Bad news if you’re looking to buy a house in the next two years
1 month ago

Mortgage rates: Bad news if you’re looking to buy a house in the next two years

CNN  

Washington CNN — Americans looking to purchase a home in the next few years will have a tough pill to swallow. Mortgage rates are now expected to stay stuck above 6% for at least the next two years, according to economists and recent forecasts. Wells Fargo economists project mortgage rates to average 6.3% by the end of next year, according …

Harris and Vance have found a new culprit for the housing crisis
2 months, 1 week ago

Harris and Vance have found a new culprit for the housing crisis

Politico  

Industry experts, however, say kicking investors out of the housing market is exactly the wrong approach. “Nobody wants to run for office saying the reason young people can’t buy their first homes is old people are staying in them too long or paying all cash — that would be politically suicidal.” The battle underscores a broader political dynamic at play, …

Number of house sales was 5% higher in August than a year earlier
2 months, 3 weeks ago

Number of house sales was 5% higher in August than a year earlier

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Holly Tomlinson, a financial planner at wealth manager Quilter …

US home sales fell in August despite easing mortgage rates, more homes on the market
3 months ago

US home sales fell in August despite easing mortgage rates, more homes on the market

Hindustan Times  

LOS ANGELES — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased …

Will interest rate decline shake up California housing market?
3 months ago

Will interest rate decline shake up California housing market?

LA Times  

The interest rate on a 30-year fixed mortgage has fallen from above 7% in May to the low 6% range as of last week. For many prospective homebuyers, the last two years have been brutal as high home prices and mortgage rates produced the most unaffordable housing market since the 2000s bubble. Experts attribute the recent decline in mortgage rates …

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
5 months ago

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

Associated Press  

LOS ANGELES — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Existing home sales sank to a nearly 30-year low last year as the average rate on a 30-year mortgage surged to a 23-year high of 7.79%, according to mortgage …

Buy-to-let mortgage market shrinks for the first time in almost three decades
5 months ago

Buy-to-let mortgage market shrinks for the first time in almost three decades

The Telegraph  

The value of buy-to-let mortgages has shrunk for the first time in three decades as soaring borrowing costs and strict lending rules force landlords to exit the market. Data from UK Finance showed the number of outstanding mortgages to landlords has fallen for the first time since 1996, when bespoke loans for property investors were first introduced. There were a …

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?
5 months, 2 weeks ago

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?

Associated Press  

LOS ANGELES — The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall. The weak spring sales are a reflection of the affordability challenges many home shoppers face: the average rate on a 30-year mortgage rate is moored near 7%; the supply …

Real estate expert predicts huge changes in the housing market: 'Things are really breaking down'
5 months, 3 weeks ago

Real estate expert predicts huge changes in the housing market: 'Things are really breaking down'

Daily Mail  

America's real estate market could be heading for a significant correction. Veteran strategist Chris Vermeulen, of The Technical Traders, believes he is witnessing troubling signals in the market, noting how borrowing costs are expected to remain high for an extended period. Despite a recent stabilization in building activity, driven by increased investment, Vermeulen believes the real estate market is still …

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
7 months ago

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices

Associated Press  

WASHINGTON — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association of Realtors reported Wednesday. Homeowners have hesitated to put their houses on the market …

House prices are falling, but what does the future hold for the market from here?
7 months, 2 weeks ago

House prices are falling, but what does the future hold for the market from here?

The Independent  

Britain’s housing market has turned hostile again, at least for sellers. It was possible to find rates close to 1 per cent in 2021, before the Bank of England imposed 14 consecutive interest-rate rises in an attempt to bring an inflationary spike under control. While the US and the UK are in very different places economically, that sort of sudden …

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined
8 months ago

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined

Live Mint  

-- Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices. “Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. At the current sales pace, selling all …

Mortgage rates tumble for the second week in a row
9 months, 1 week ago

Mortgage rates tumble for the second week in a row

CNN  

Washington, DC CNN — Mortgage rates dropped for the second week in a row, falling nearly a quarter of a percentage point over the past two weeks in the face of stronger-than-expected employment and inflation data. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation,” said Sam Khater, Freddie Mac’s chief …

House prices continue to rise despite higher interest rates, inflation and cost of living
9 months, 3 weeks ago

House prices continue to rise despite higher interest rates, inflation and cost of living

ABC  

In short: Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. Home values rose 0.6 per cent in February, with increases in every capital city except Hobart, according to CoreLogic. "It's pretty unusual for economic conditions to be so weak but the housing market showing this really strong trend," CoreLogic's …

Is this the 'magic' mortgage rate that will kickstart the housing market? Fascinating study reveals rate that could finally spur the majority of aspiring homeowners into buying
9 months, 3 weeks ago

Is this the 'magic' mortgage rate that will kickstart the housing market? Fascinating study reveals rate that could finally spur the majority of aspiring homeowners into buying

Daily Mail  

After the Federal Reserve started lifting interest rates in March 2022, mortgage rates followed suit - and home sales have faltered since. Fixed 30-year mortgage rates are now hovering around 6.9 percent after reaching a 22-year high of 7.8 percent in October, according to Government-backed lender Freddie Mac. Some 72 percent out of 5,000 potential home buyers said they pulling …

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
10 months ago

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association of Realtors said Thursday. “While home sales remain sizably lower …

Home sales post biggest decline in four months thanks to high mortgage rates - but experts insist you can STILL haggle a good deal
10 months, 2 weeks ago

Home sales post biggest decline in four months thanks to high mortgage rates - but experts insist you can STILL haggle a good deal

Daily Mail  

Touring activity of homes is on the rise, up 16 percent since January 1 Mortgage rates are down from records highs but borrowing is still expensive Home sales in January were down 8 percent compared to last year as high mortgage rates and harsh winter weather may have discouraged Americans from buying. This week, 30-year fixed mortgage rates were 6.64 …

Is Britain’s mortgage hell finally over?
11 months, 2 weeks ago

Is Britain’s mortgage hell finally over?

The Independent  

On the face of things, it looks like a very happy new year for mortgage borrowers. After a miserable 2023 in which rates shot up like a world champion pole vaulter, Bank of England base rates hit 5.25 per cent before the Monetary Policy Committee pressed pause – 2024 could hardly have started better for the housing market. More good …

Squeeze on home buyers’ budgets set to continue into 2024, say experts
11 months, 3 weeks ago

Squeeze on home buyers’ budgets set to continue into 2024, say experts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Overall, we predict a modest average fall of 1% …

How the rent crisis is pricing out Britain’s landlords
1 year ago

How the rent crisis is pricing out Britain’s landlords

The Telegraph  

In theory, a record jump in rental prices should be a good thing for landlords. Higher rents have meant first-time buyers are doing whatever they can to get on the property ladder, just as high mortgage rates have weakened investors’ buying power. The result is that first-time buyers are now overtaking landlords when it comes to commanding Britain’s mortgage market. …

Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers
1 year, 2 months ago

Home sales fell again in September as surging mortgage rates, rising prices discouraged homebuyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes in September fell for the fourth month in a row, grinding to their slowest pace in more than a decade as prospective homebuyers grapple with surging mortgage rates and a near historic-low level of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted …

Why you SHOULD purchase a home this fall: Buyers facing a 'sweet spot' in the market as 9.2 percent of sellers are cutting prices
1 year, 2 months ago

Why you SHOULD purchase a home this fall: Buyers facing a 'sweet spot' in the market as 9.2 percent of sellers are cutting prices

Daily Mail  

But the number of sellers cutting prices has reached their highest level this year Homebuyers are facing a market 'sweet spot' this fall as the number of sellers cutting prices has reached their highest level this year, a new report claims. Zillow senior economist Jeff Tucker wrote in a report: 'For determined buyers, with enough budget room to accommodate the …

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices
1 year, 4 months ago

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices

Associated Press  

LOS ANGELES — The U.S. housing market remains in a deep sales slump, but the worst declines may be over when it comes to home prices. If mortgage rates remain elevated and inventory continues rising, the combination could weigh on home prices and cause the national median sales price to dip this fall, said Lisa Sturtevant, chief economist at Bright …

Mortgage rates reach their highest rate in more than 20 YEARS - here's what it means for new home buyers
1 year, 4 months ago

Mortgage rates reach their highest rate in more than 20 YEARS - here's what it means for new home buyers

Daily Mail  

Are YOU worried about rising mortgage rates? Get in touch: [email protected] Home buyers are facing their highest mortgage rates since 2002, as experts warn higher loans could pour cold water on the property market. Home buyers are facing their highest mortgage rates since 2002, as experts warn higher loans the property market to a screeching halt Over the course of …

Buying or selling? How to deal with rising mortgage rates and falling house prices
1 year, 5 months ago

Buying or selling? How to deal with rising mortgage rates and falling house prices

The Independent  

For millions of Britons who had plans to move house or get on the property ladder this year, the latest mortgage misery coupled with the cost of living crisis makes paints a grim picture. Ross Lacey, director and chartered financial planner at Fairview Financial Management, said: “As a homeowner, if you want to move then even if your property price …

May home sales rise with near record-few on the market and biggest annual price drop since 2011
1 year, 6 months ago

May home sales rise with near record-few on the market and biggest annual price drop since 2011

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market. Existing home sales rose 0.2% last month from April to a seasonally adjusted annual rate of 4.3 million, …

Housing boom: buy now or wait?
1 year, 6 months ago

Housing boom: buy now or wait?

The Hindu  

When the Reserve Bank of India’s Monetary Policy Committee, in its second bi-monthly monetary policy meeting of FY24 this week, decided to leave the repo rate unchanged at 6.5%, economists and industry experts felt their expectations were met. After the RBI hiked the repo rate several times and then maintained it at 6.5%, home loan interest rates also increased. Should …

Britain’s property market faces a reckoning – the house price plunge is only beginning
1 year, 8 months ago

Britain’s property market faces a reckoning – the house price plunge is only beginning

The Telegraph  

Invisible threat This presents a looming potential threat for the mortgage market. This is likely to mean more stringent “affordability tests” for borrowers, smaller loans in proportion to income, and higher mortgage rates on loans for buyers with smaller deposits. The British housing market is much more exposed to higher mortgage rates than other European markets. This is because debt-to-income …

Sale of newly constructed homes falls by half; Housing minister concerned
1 year, 8 months ago

Sale of newly constructed homes falls by half; Housing minister concerned

NL Times  

Sales of new construction homes fell by half in the last quarter of 2022 compared to a year earlier, Statistics Netherlands said this week. The cause of the trend is likely due to the limited growth of new homes placed on the market, said CBS Chief Economist Peter Hein van Mulligen. “Then you get an interest rate shock: both buyers …

Mortgage applications drop to 28-year low as rates climb
1 year, 9 months ago

Mortgage applications drop to 28-year low as rates climb

CNN  

Washington, DC CNN — Applications for a mortgage fell for the third week in a row and now sit at a 28-year low for the second-straight week, according to data released Wednesday. With mortgage rates half a percentage point higher over the past month, home buyers are pulling back even as the spring home buying season should be heating up. …

Has Australia's housing boom hit the end of the road and could it take the economy down with it?
1 year, 11 months ago

Has Australia's housing boom hit the end of the road and could it take the economy down with it?

ABC  

While Argentina may have dispatched Australia to go on and win football's World Cup, there is one kicking contest where we are undisputed world leaders – that's economic can kicking. Many fixed mortgage rates were below 2 per cent, some for terms as long as four years, and the Reserve Bank governor had said repeatedly that rates were unlikely to …

The housing market in 2022 has been anything but boring
1 year, 11 months ago

The housing market in 2022 has been anything but boring

Dutch News  

Rising interest rates, falling house prices, fewer deals, more properties – the Dutch housing market was far from dull in 2022, says financial advisor José de Boer. For a start, the government is increasing the transfer tax on buy-to-let properties from 8% to 10.4%, in an effort to dissuade people from buying up homes as an investment – so that …

Mortgage approvals fall to lowest level since Covid hit
2 years ago

Mortgage approvals fall to lowest level since Covid hit

The Telegraph  

The mortgage market chaos following Liz Truss's mini-Budget pushed down approvals for home loans to their lowest level in more than two years in October. The figures cover the period immediately after Kwasi Kwarteng delivered the mini-Budget when lenders withdrew hundreds of mortgage products and rates were pushed up in response to expectations for aggressive Bank of England action. Forecasters …

Surge in renters as would-be homebuyers put purchases on hold
2 years ago

Surge in renters as would-be homebuyers put purchases on hold

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Bank of England base rate hikes are also pushing …

Housing industry braces for a downturn, but investors are piling in
2 years, 1 month ago

Housing industry braces for a downturn, but investors are piling in

Live Mint  

Investors are seizing on any sign inflation has peaked as a reason to snap up beaten-down shares. Redfin Corp. shares have soared more than 50% since Nov. 9 when the real-estate brokerage’s chief executive warned, “We have to assume that the sun will never come up." Shares of real-estate brokerages, home builders, mortgage lenders and practically anything that touches the …

I am a mortgage adviser – let’s address the elephant in the room
2 years, 1 month ago

I am a mortgage adviser – let’s address the elephant in the room

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The high property prices have slowed …

Mortgage rates top 7% for the first time since 2002, chilling L.A. housing market
2 years, 1 month ago

Mortgage rates top 7% for the first time since 2002, chilling L.A. housing market

LA Times  

Real estate agent Skyler Hines, right, speaks with visitor during open house in the Arlington Heights neighborhood of Los Angeles. The cost of buying a home took another leap this week as the average rate on the popular 30-year fixed-rate mortgage surpassed 7% for the first time since 2002. California Rising mortgage rates are sending home prices lower After a …

Mortgage rates hit 6%, first time since 2008 housing crash
2 years, 3 months ago

Mortgage rates hit 6%, first time since 2008 housing crash

Associated Press  

WASHINGTON — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. The long-term average rate has more than doubled since a year ago and is the highest it’s been since November of 2008, just after the housing …

US mortgage rates hit 6% for first time since 2008 housing crisis
2 years, 3 months ago

US mortgage rates hit 6% for first time since 2008 housing crisis

Al Jazeera  

Average long-term United States mortgage rates climbed above 6 percent this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. The long-term average rate has more than doubled since a year ago and is the highest it has been since November 2008, just after the housing …

New homebuyers enticed into market now face perfect financial storm
2 years, 4 months ago

New homebuyers enticed into market now face perfect financial storm

ABC  

Farheen Khan and her husband Faizan Afzal are about to achieve the great Australian dream — buying a home where their children can grow up, with nearby parks and a good school. Key points: Big government incentives in 2020 lured first homebuyers into the market But those same incentives also helped drive up housing costs Now rising interest rates are …

Housing market stalls after rapid mortgage interest rate hike
2 years, 4 months ago

Housing market stalls after rapid mortgage interest rate hike

NL Times  

The increased mortgage interest has put the housing market at an “impasse.” Mortgage advice chain De Hypotheker reached this conclusion based on its figures on the number of mortgage applications. According to De Hypotheker, people who look at the housing market seem to postpone purchasing a home until the mortgage interest rate has fallen again or the supply becomes more …

Interest rate rises will see property prices fall further as maximum home loan sizes shrink
2 years, 4 months ago

Interest rate rises will see property prices fall further as maximum home loan sizes shrink

ABC  

Property prices may be dropping but that doesn't mean that wannabe home owners are suddenly celebrating. Key points: The Reserve Bank is set to hike the cash rate again today Banks are already winding back mortgage limits as interest rates and inflation rise Mortgage brokers say a 'feedback loop' is emerging in the property market Lenders are simultaneously winding back …

As interest rates rise, the 'American dream' of homeownership fades for some
2 years, 4 months ago

As interest rates rise, the 'American dream' of homeownership fades for some

NPR  

As interest rates rise, the 'American dream' of homeownership fades for some Enlarge this image toggle caption Seth Wenig/AP Seth Wenig/AP Mackenzie Bathgate and her husband, Jon, have been trying to buy a home in Lansdale, PA., for eight months now. "At this point, we've seen 28 homes in person, but ultimately made seven different offers, each one a little …

Five things to know about the next US housing crisis
2 years, 5 months ago

Five things to know about the next US housing crisis

Al Jazeera  

High home prices, scarcity and global uncertainty may be the perfect recipe for a United States housing crisis, economists tell Al Jazeera. “We’re seeing listings stay on the market a little longer than a year ago, even six months ago.” Inflation, a bear market on Wall Street after the S&P 500 dropped 20 percent, free-falling cryptocurrencies, war in Ukraine, and …

Home sales give way as prices enter unprecedented territory
2 years, 6 months ago

Home sales give way as prices enter unprecedented territory

Associated Press  

Sales of previously occupied U.S. homes slowed for the fourth consecutive month as climbing mortgage rates and record high prices discouraged house hunters. Existing home sales fell 3.4% last month from April to a seasonally adjusted annual rate of 5.41 million, the National Association of Realtors said Tuesday. The housing market, a crucial part of the economy, is slowing as …

“Cooling” housing market means more opportunities for young people, mortgage firm says
2 years, 6 months ago

“Cooling” housing market means more opportunities for young people, mortgage firm says

NL Times  

It has become slightly easier for young real estate buyers to snatch up a home now that the housing market seems to be cooling down somewhat. The number of mortgage applications from home buyers up to the age of 35 increased by 17 percent this year compared to the last five months of 2021, reports mortgage advisor De Hypotheker. The …

Declining Sydney property prices a forecast for the rest of Australia, experts say
2 years, 6 months ago

Declining Sydney property prices a forecast for the rest of Australia, experts say

ABC  

As interest rates rise, Sydney house prices are dropping and experts say it is a "bellwether" for what is about to happen across the rest of the country. Key points: Interest rates are driving the decline in value of Sydney properties The Reserve Bank of Australia increased the cash rate to 0.85 per cent. "If we see interest rates rise …

Re/Max CEO: Home prices can’t keep up double-digit gains
2 years, 7 months ago

Re/Max CEO: Home prices can’t keep up double-digit gains

Associated Press  

LOS ANGELES — The U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale. Previously occupied home sales fell in February and March as mortgage rates shot up, crimping homebuyers’ purchasing power during the annual spring homebuying season. Nick Bailey, president and CEO of Re/Max, a global network of …

Home sales tumble again as mortgage rates surge
2 years, 7 months ago

Home sales tumble again as mortgage rates surge

Associated Press  

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual rate of 5.61 million, the National Association of Realtors said Thursday. Fierce competition for …

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