housing-market
InvestingFTSE 100 Drops as Commodity-Linked Stocks Weigh; Persimmon Tumbles
TradingSterling Rises but Gloomy Economic Outlook Remains in Focus
FinanceYoung Greeks Priced Out as Inflation, Rents Soar
Top StoriesIrish Central Bank Eases Strict Mortgage-Lending Limits
UK Housing Market Shows Strains From “mini-Budget”: Rightmove
Date: October 17, 2022
LONDON (Reuters) – Britain’s housing market lost momentum this month after Prime Minister Liz Truss’s economic plans upset financial markets and triggered a repricing of the mortgage market, data from property website Rightmove showed on Monday. Asking prices for homes coming to the market rose by 7.8% year-on-year in October, the smallest increase since January....
London’s FTSE 100 Falls for Sixth Day as Financials Extend Losses
Date: October 12, 2022
By Sruthi Shankar (Reuters) – Financial stocks led Britain’s blue-chip index lower on Wednesday as gilts continued their selloff, while Barratt Developments’ disappointing results deepened worries for the battered housing sector. The FTSE 100 fell 0.9% extending losses for a sixth straight session, while the midcap FTSE 250 index dropped 1.7%. The pound rose 1.1%...
Caixabank Proposes Sector-Wide Freeze in Variable Mortgage Costs, Source Says
Date: October 12, 2022
MADRID (Reuters) – Caixabank, Spain’s biggest lender by domestic assets, has proposed a sector-wide measure to cushion the rise in payments on variable mortgage contracts for a year, a source with direct knowledge of the matter said on Tuesday. “The proposal foresees freezing the increase in payments on variable mortgages for twelve months,” the source...
Explainer-Why Is Bank of England Acting Again? What Next in the UK Crisis?
Date: September 28, 2022
LONDON (Reuters) – Britain’s central bank resorted to buying bonds again on Wednesday in an emergency move to reduce the chaos in financial markets which was triggered last week by the tax and spending plans of new British Prime Minister Liz Truss. The slump in government bond prices – and the subsequent surge in yields...
UK Housing Market May Face Perfect Storm as Mortgage Rates Rise, House Prices Drop
Date: September 28, 2022
By Andy Bruce, Sinead Cruise and Carolyn Cohn LONDON (Reuters) – A surge in borrowing costs and a likely slowdown in economic growth threaten to trigger a selloff in Britain’s housing market with consequences for personal wealth and the broader economy that could resonate for decades. The tumultuous unveiling of the country’s new economic strategy...
UK Lenders Pull Mortgages at Record Rate as Market Chaos Worsens
Date: September 28, 2022
LONDON (Reuters) – A record 935 mortgage products were pulled in Britain overnight, financial services provider Moneyfacts said on Wednesday, as deepening turmoil in financial markets pushed more lenders to temporarily withdraw products for new customers. The volatility comes after the new UK government announced huge tax cuts funded by borrowing, leading to a plunge...