The mortgage rates have experienced a decline for the third consecutive week, which should have been a signal for a surge in refinancing applications. However, this was not the case as there was a notable drop of 15% in applications to refinance a home loan compared to the previous week. Despite this, the volume remains
Real Estate
In the wake of the Bank of England’s recent interest rate cut, Britain’s major high street lenders, including Barclays, Halifax, HSBC, and NatWest, have been quick to respond by slashing borrowing costs. This move has led to a surge in homebuyer activity, with these lenders now offering five-year fixed rate mortgages of under 4%. This
Inflation in the United States continued to decrease in July, mainly due to the easing of price pressures on consumer staples and physical goods, such as food, energy, new and used cars. The consumer price index (CPI), which serves as a crucial measure of inflation, rose by 2.9% in July compared to the previous year,