News Analysis Canada’s big banks dominate the mortgage market and aren’t helping homebuyers and housing affordability with lower mortgage rates for the time being. Analysts point to the banking oligopoly in Canada as a major factor in the lack of competitive options for consumers as compared with the United States. Like other industries, the big…
Mortgage Rates Remain High as Big Banks Anticipate Recession
August 4, 2022
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Climbing Rates, Halt in Refinancing Blamed for Mortgage Industry Nosedive
Headlines across the nation continue to trumpet the recent slump in the mortgage industry, as thousands of loan professionals now find themselves furloughed for the time being. Industry giants like JP Morgan Chase and Loan Depot are planning to slash thousands of jobs, while published reports indicate layoffs have been in the hundreds at Wells…
New Zealand Property Market in ‘Correction’ Phase and Faces Significant Challenges
July 28, 2022
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The New Zealand (NZ) property market faces significant challenges as house values have fallen for three consecutive months, and sales activity shows clear signs of slowing. CoreLogic NZ’s latest property market update revealed that the total value of residential real estate fell $40 billion (US$25 billion) across the June quarter to $1.69 trillion. The value…
10 Mortgage Hacks Every Homeowner Should Know to Save Thousands
The average monthly mortgage cost in the United States is $1,492 per month according to data from Value Penguin. As such, it’s typically one of the largest line items on a person’s budget. If homeowners want to reduce this monthly payment faster, there are several mortgage hacks you can implement that will save you thousands of dollars on your…
Real Estate ‘Time Bomb’ and Mortgage Boycott by Homeowners in China; Enes Freedom on Human Rights
July 18, 2022
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China is facing a growing mortgage strike. Unfinished homes and growing resentment toward banks and developers may be a ticking time bomb. For the Chinese regime, a third of the economy is on the line, with upward of $2 trillion in home loans. Meanwhile, the protest over what Chinese residents call “rotten tail buildings” reaches…
Mortgage Lender Calling Every Hour All Day Long!
Dear Mary: We are one month behind on our mortgage payments and plan to catch up this month. We have told our credit union we will pay half on the 1st and the second half on the 13th. This will bring us current. Still, they call all day, every hour. When we answer they say…
Over 40,000 Homebuyers in China Threaten to Boycott Mortgage Repayments for Stalled Projects
More than 40,000 homebuyers have threatened to cease paying their bank mortgages for pre-sold yet unfinished apartments unless developers resume construction. The distressed homebuyers have informed mortgagees of their decisions to boycott payments for stalled development projects via letters, some of which have been circulated online. The homebuyers said they have taken such measures after…
Lloyds Offers Extra Support to 2 Million Customers as Cost Rises Hit Hard
LONDON—Britain’s biggest domestic lender Lloyds Banking Group contacted 2 million of its 26 million customers in May after identifying they could need extra support to cope with soaring food and energy prices and rising debt costs. The UK’s largest mortgage provider outlined options including debt consolidation, household budget reviews, and spending control tools to customers…
Potential Home Buyers Are Asking—Should I Stay or Should I Go
In 1982, the British punk rock band, The Clash, released their hit song “Should I Stay or Should I Go.” Forty years later, potential home buyers and sellers are now asking themselves that very same question. With mortgage interest rates currently near 6 percent for a 30-year fixed plan, many would-be home buyers are debating…
Is Now a Good Time to Buy or Sell a Home?
In 1982, the British punk rock band, The Clash, released their hit song “Should I Stay or Should I Go.” Forty years later, potential home buyers and sellers are now asking themselves that very same question. With mortgage interest rates currently near 6 percent for a 30-year fixed plan, many would-be home buyers are debating…
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