Housing - Finding the Elusive Bottom
Where is the Value in Housing?
Bottom Line? There is no Bottom in Sight
The Real ARMs Race

Existing home sales rose by 2.9% in February, the first significant rise in home sales since the housing market started to decline last year. I was in my car […]

The lighting strike in the markets that I looked for in last week’s edition did indeed occur across many sectors. It was a belly button moment for many as Commodities, Currencies, Stocks and Interest Rates were rocked midweek and I was forced look around to make sure that “nothing had changed”. The mainstream […]

House price growth slows to lowest level in twelve years
Clear change in consumers’ housing market sentiment
Outlook more downbeat, but within forecast range
MPC expected to bring rate cut forward to April

Headlines
March 2008
February 2008

Monthly index * Q1 ‘93 = 100
360.5
362.6

Monthly change*
-0.6%
-0.5%

Annual change
1.1%
2.7%

Average price
£179,110
£179,358

* seasonally adjusted
Commenting on the figures Fionnuala Earley, Nationwide’s Chief Economist, said:“House prices […]

It can be confusing watching UK broadcast TV housing market programming, as I am finding that the property shows being aired are more often repeats captured from the heights of the housing boom. Viewers could be confused into thinking that what they are watching is current programming as usually there is no clear indication of […]

The fallout from the credit crunch and predicted falling house prices have forced lenders to consider their positions in the market and reassess their attitude to risk based lending. Denise Harvey, mortgage analyst from moneyfacts.co.uk looks at the position of the UK’s largest lenders in today’s market.

“Research carried out by moneyfacts.co.uk shows that, […]

It seems that the effects from the credit crunch on the sub prime mortgage market are far from over. Julia Harris, mortgage analyst from moneyfacts.co.uk looks at recent changes to the ever-depleting market. “Over the last week we have seen a host of sub prime lenders including Amber Homeloans, Scarborough Specialist Mortgages and SALT cease […]

It doesn’t matter what newspaper you picked up. I doesn’t matter what TV show you watched. Records fell like no time in recent history with perhaps the exception of Carl Lewis running loose at the Olympics in his heyday.
I wonder how much his Gold medals are worth now?
$1.55 on the Euro, 100 on […]

On the eve of the launch of the first ever Moneyfacts mortgage report “Tougher times in the UK residential mortgage market”, Andrew Hagger of Moneyfacts.co.uk comments on the following topics:

Government intervention required to help the first time buyer
“The current stamp duty threshold set at £125,000 is totally out of line with the […]

A matter of days after soothing words on the prospects for UK house prices for 2008 were issued by the chief economist of Britain’s largest Mortgage Bank (The Halifax), the Royal Institute of Chartered Surveyors released data today which shows the worst margin between rising and falling house prices since the height of the 1990’s […]

New figures published by the Financial Services Authority (FSA) today show that one in five mortgage holders are concerned about meeting their repayments in the next 12 months. When asked how they would meet these costs, a quarter of them said they had no plans.

The FSA is now launching a £2 million advertising […]

Seasonally adjusted house prices fell in February by 0.3% to £196,649 (Halifax:SA), a fall of £600. None seasonally adjusted house prices are now down £7,600 since the peak made in August 2007 which equates to an average drop of £1,266 per month in equity. This is against an interest rate implied cut of 0.5% on […]

Mike Larson writes: The most amazing thing about the housing and mortgage market crunch is that it has unfolded in the context of a decent employment backdrop and a growing economy.Home sales collapsed … inventories ballooned … prices started dropping … and mortgage delinquency rates and foreclosures exploded.
All this DESPITE the fact the unemployment rate […]

“And there should be no doubt about who is really responsible for the subprime woes. The investment banks employ some of the country’s “best and brightest” — sharp guys who have studied at some of our finest colleges and universities. Does anyone really believe that a Harvard MBA — who understands all the fine-points of […]

“And there should be no doubt about who is really responsible for the subprime woes. The investment banks employ some of the country’s “best and brightest” — sharp guys who have studied at some of our finest colleges and universities. Does anyone really believe that a Harvard MBA — who understands all the fine-points of […]

House prices fell by 0.5% in February, the fourth consecutive monthly decline
The annual rate of house price inflation fell from 4.2% to 2.7%
UK recession “a remote risk for the UK economy”

Headlines
February 2008
January 2008

Monthly index * Q1 ‘93 = 100

363.3

365.0

Monthly change*

-0.5%

-0.3%

Annual change

2.7%

4.2%

Average price

£179,358

£180,473

* seasonally adjusted

Commenting on the figures Fionnuala Earley, Nationwide’s Chief […]

The British Bankers Association mortgage lending statistics reveal a contraction in the total amount of outstanding mortgage debt amongst its UK member banks, of nearly £6 billion from the peak set in October 2007. Whilst the amount may seem small in terms of the size of total mortgage debt of some $1.2 trillions, it is […]